Almonty rises after tungsten supply deal with Sandvik unit
17/09/2026 12:58
BUZZ-Almonty rises after tungsten supply deal with Sandvik unit ** Nasdaq-listed shares of tungsten producer Almonty Industries ALM.O rise 4.5% to $13.98 premarket
** Co signs a tungsten supply agreement with a unit of Swedish industrial group Sandvik SAND.ST
** Deal includes a conditional upfront payment of $3 mln and covers tungsten recovered from existing mine waste
** The tie-up supports growing demand for non-Chinese tungsten supplies ahead of tighter US sourcing rules due in 2027, co says
** All 8 brokerages covering the stock, rate it "buy" or higher, their median PT is $25, according to LSEG-compiled data
** As of last close, ALM stock up around 53% YTD
(Reporting by Darshan Kumar in Bengaluru)