Canada's Almonty Q1 revenue more than triples on tungsten prices

Almonty Industries

11/05/2026 23:17

Overview

Canada tungsten concentrate producer's Q1 2026 revenue rose 221% yr/yr, driven by record pricing

Adjusted EBITDA for Q1 improved to C$6.1 mln from a loss in prior yr

Company completed Sangdong Mine commissioning and relocated HQ to U.S. after quarter end

Outlook

Company expects general and administrative expenses to normalize through the rest of 2026

Result Drivers

TUNGSTEN PRICE SURGE - Revenue growth was driven by a significant increase in the spot price of tungsten APT, per management

PANAQUEIRA MINE PERFORMANCE - Continued strong operations at the Panasqueira Mine contributed to higher revenue, according to CFO Guillaume de Lamaziere

NON-CASH REVALUATION CHARGES - Net loss included $8.4 mln in non-cash charges related to revaluation of derivative and warrant liabilities due to share price appreciation, which did not impact operating performance

Company press release: ID:nBw31cDj0a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
C$25.40 mln
Q1 Net Income
-C$5.26 mln
Q1 Adjusted EBITDA
C$6.13 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "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$19.30, about 32.6% below its May 11 closing price of C$28.62

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 63 three months ago

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(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.)