Almonty gains after Stifel initiates coverage with 'buy'
25/09/2026 13:07
BUZZ-Almonty gains after Stifel initiates coverage with 'buy' ** Nasdaq-listed shares of tungsten producer Almonty Industries ALM.O rise 2.6% to $12.73 premarket
** Stifel initiates coverage with "buy" rating
** Says ALM is expanding production at its Panasqueira mine in Portugal, which, along with South Korea's Sangdong, "would result in the company leading Western tungsten production by the end of 2028"
** "We also see long-term upside from the development of additional owned assets and the build-out of a downstream tungsten oxide facility" - Stifel
** Nine out of 10 brokerages rate the stock "buy" or higher; their median PT is $25 - LSEG-compiled data
** Up to last day's close, shares up 40.8% YTD
(Reporting by Sudeshna Ghoshal in Bengaluru)