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Almonty Industries ( (TSE:AII) ) has shared an update.
Almonty Industries has announced the acquisition of the Gentung Browns Lake Tungsten Project in Montana, a strategic move that positions the company for near-term production in the U.S. tungsten market. This acquisition, valued at $9.75 million, allows Almonty to expand its global footprint and strengthen its position as a leading non-Chinese supplier of tungsten concentrate. The project is located in a historic tungsten district with existing infrastructure, enabling a swift transition to production. The move is expected to enhance Almonty’s ability to meet growing defense and manufacturing demands for tungsten, particularly in the U.S. and allied markets.
The most recent analyst rating on (TSE:AII) stock is a Buy with a C$12.00 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
Spark’s Take on TSE:AII Stock
According to Spark, TipRanks’ AI Analyst, TSE:AII is a Neutral.
Almonty Industries’ overall stock score is primarily impacted by its weak financial performance, characterized by significant losses and high leverage. Despite these challenges, the stock’s technical indicators are positive, suggesting potential short-term bullish momentum. However, the negative P/E ratio and lack of dividend yield limit its valuation appeal.
To see Spark’s full report on TSE:AII stock, click here.
More about Almonty Industries
Almonty Industries Inc. is a leading global producer of tungsten concentrate, supplying conflict-free tungsten critical to the defense and advanced technology sectors. The company operates the Sangdong Mine in South Korea, one of the world’s largest tungsten deposits, and has additional operations in Portugal and projects in Spain. Almonty aims to address supply vulnerabilities in the tungsten market, particularly in light of geopolitical tensions and recent U.S. defense procurement bans.
Average Trading Volume: 542,824
Technical Sentiment Signal: Buy
Current Market Cap: C$2.12B
See more insights into AII stock on TipRanks’ Stock Analysis page.