Canada's Almonty 2025 revenue rises 13%, net loss widens on non-cash charges

Almonty Industries

19/03/2026 04:59

Overview

Canada tungsten producer's 2025 revenue rose 13% yr/yr, driven by higher tungsten prices

Company posted C$161.9 mln net loss, mainly due to non-cash derivative revaluation charges

Almonty began active mining at Sangdong Mine and raised cash through a public share offering

Outlook

Company focused on commissioning Sangdong Mine and optimizing throughput to meet rising demand

Almonty expects structural supply deficit in tungsten to deepen, supporting strong pricing

Company anticipates increased demand from Western governments and defense customers for secure tungsten supply

Result Drivers

TUNGSTEN PRICE SURGE - Revenue growth driven by a 534% yr/yr increase in average APT tungsten price

SANGDONG MINE RAMP-UP - Transition to active mining at Sangdong Mine marked a key operational milestone

HIGHER ADMIN COSTS - General and administrative expenses rose due to legal and regulatory costs tied to capital markets activities

Company press release: ID:nBw9ppMZfa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
C$32.50 mln
FY Net Income
-C$161.90 mln
FY Adjusted EBITDA
-C$17.10 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the specialty mining & metals peer group is "buy"

Wall Street's median 12-month price target for Almonty Industries Inc is C$17.65, about 27.5% below its March 18 closing price of C$24.36

The stock recently traded at 60 times the next 12-month earnings vs. a P/E of 54 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)