Almonty Shares Gain Momentum on Strong Tungsten Market and Project Progress

Almonty CA0203981034

Almonty Industries Inc. saw its share price advance significantly in today's trading session, moving closer to its 52-week high. The upward movement is being driven by a combination of surging tungsten prices, elevated trading volumes, and continued progress on the company's key expansion projects.

A notably firmer tungsten market is providing fundamental support. In Europe, the price for ammonium paratungstate (APT), a key industry benchmark, has recently been trading within a range of $1,000 to $1,050 per metric ton unit (mtu). Market data from January 23 indicated an average price point of approximately $1,025 per mtu.

The company is actively working to capitalize on this favorable pricing environment. Its mining operation in South Korea, which commenced production in December 2025, is currently in a ramp-up phase. Furthermore, CEO Lewis Black has outlined plans for a new U.S.-based facility targeted for late 2026, aimed at securing supply chains for this critical industrial metal.

Trading Activity and Analyst Sentiment

Trading volume exceeded 5.3 million shares today, a figure roughly 163% above the average daily volume, indicating strong investor interest. The stock's performance has now pushed it above the average analyst price target of about $10.17.

Recent analyst actions have provided additional, though somewhat limited, upside momentum. Oppenheimer recently raised its price target to $12 and assigned an "Outperform" rating. Similarly, DA Davidson reaffirmed a "Buy" rating with a matching $12 target.

Insider Transaction and Market Focus

A notable insider transaction occurred on January 21, when Director Mark Trachuk sold 111,000 shares at average prices around $10, realizing proceeds of approximately $1.1 million. Despite this sale, the equity has continued its upward trajectory. The market appears to be focusing primarily on the positive industry dynamics and the company's project pipeline rather than the insider's divestment.

Financial Performance Overview

A review of the latest financials presents a mixed picture. For the third quarter ended September 30, 2025, Almonty reported revenue of $8.7 million. The company posted a net profit of approximately $33.2 million; however, this result was primarily influenced by a non-cash accounting item. A gain of $34.5 million stemming from the revaluation of warrant liabilities inflated the bottom line, meaning underlying operational profitability remains more subdued.

Concurrently, the company continues to make substantial investments in its international portfolio of projects located in Portugal, South Korea, and the United States. In the near term, this creates a dynamic where significant capital expenditures are set against a much-improved commodity price backdrop and an expanding production base—a tension that is likely to be a key driver of the share price in coming quarters.