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Almonty Industries
(NASDAQ:ALM)
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Rating:42Neutral
Price Target:
$17.50
â–¼(-4.06% Downside)
Action:N/A
Date:08/17/26
The score is held down primarily by persistent heavy losses and ongoing cash burn despite improved revenue growth and better leverage. Technicals also remain weak with the stock in a downtrend and negative momentum, while valuation is difficult to support given the company is loss-making and has no dividend yield data.
Positive Factors
Sangdong enters production
Sangdong’s move from development into revenue-generating processing creates a platform for higher production and cash inflows. Plant commissioning also provides operating experience that can support throughput stabilization and future expansion of the company’s Western tungsten supply base.
Negative Factors
Severe and volatile losses
The company has not yet demonstrated a sustainable earnings model despite improved revenue. Very thin gross margins and an exceptionally large net loss leave profitability highly sensitive to production performance, costs, tungsten prices and ramp-up execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Sangdong enters production
Sangdong’s move from development into revenue-generating processing creates a platform for higher production and cash inflows. Plant commissioning also provides operating experience that can support throughput stabilization and future expansion of the company’s Western tungsten supply base.
Read all positive factors
Almonty Industries (ALM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.46B
Dividend YieldN/A
Average Volume (3M)N/A
Price to Earnings (P/E)―
Beta (1Y)1.47
Revenue Growth207.96%
EPS GrowthN/A
CountryUS
Employees341
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.20
Shares Outstanding288,480,740
10 Day Avg. VolumeN/A
30 Day Avg. VolumeN/A
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)7.03
Price to Sales (P/S)77.34
P/FCF Ratio-31.44
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$25.00Price Target Upside37.06% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.64
Revenue Forecast (FY)$266.09M
Almonty Industries Business Overview & Revenue Model
Company Description
Almonty Industries, Inc. engages in the mining, processing, and shipment of tungsten concentrates. Its projects include Almonty Korea Tungsten, Panasquiera mine, Gentung, Almonty Korea Moly, Los Santos mine, and Valtreixal. The company was founded...
How the Company Makes Money
Almonty primarily makes money by producing tungsten-bearing ore from its mining operations, processing that ore into tungsten concentrate (and, where applicable, downstream tungsten products), and selling those materials to customers at prices inf...
Almonty Industries Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
33
Negative
Cash Flow
16
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2023 | Dec 2021 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 73.07M | 32.51M | 19.36M | 24.80M | 20.85M | 25.09M |
| Gross Profit | 34.17M | 3.42M | 1.32M | 2.55M | 2.79M | -1.37M |
| EBITDA | -56.65M | -28.56M | -6.87M | -6.85M | -3.32M | -7.57M |
| Net Income | 53.58M | -161.91M | -10.94M | -14.49M | -7.75M | -9.06M |
Balance Sheet | ||||||
| Total Assets | 1.20B | 589.73M | 172.08M | 192.84M | 165.85M | 151.06M |
| Cash, Cash Equivalents and Short-Term Investments | 863.61M | 265.95M | 5.26M | 8.44M | 1.05M | 2.37M |
| Total Debt | 572.21M | 162.11M | 106.91M | 89.48M | 67.71M | 61.52M |
| Total Liabilities | 810.81M | 231.92M | 217.28M | 153.09M | 128.36M | 121.89M |
| Stockholders Equity | 388.30M | 357.81M | 39.07M | 39.75M | 37.49M | 29.17M |
Cash Flow | ||||||
| Free Cash Flow | -54.80M | -79.98M | -43.73M | -28.33M | -18.44M | -11.13M |
| Operating Cash Flow | 23.59M | -19.14M | -7.50M | -5.57M | -8.44M | -4.83M |
| Investing Cash Flow | -79.81M | -62.27M | -24.32M | -22.75M | -10.00M | -6.29M |
| Financing Cash Flow | 970.63M | 342.00M | 21.25M | 35.22M | 17.19M | 11.91M |
Almonty Industries Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
Performance Comparison
Almonty Industries Corporate Events
Almonty Industries Unveils US$300 Million Share Buyback Ahead of Sangdong Ramp-Up
Aug 17, 2026
On August 17, 2026, Almonty Industries announced that its board approved a new share repurchase program authorizing buybacks of up to 14.4 million common shares, or about five percent of its outstanding stock, for as much as US$300 million over a ...
Almonty Industries Files Form 6-K Detailing July 7 Amendment to Key Supply Agreement
Jul 17, 2026
On July 17, 2026, Almonty Industries Inc. filed a Form 6-K with the U.S. Securities and Exchange Commission for the month of July 2026. The filing records an amendment, dated July 7, 2026, to the company’s existing amended and restated suppl...
Almonty Boosts Sangdong Tungsten Offtake Deal to US$490 Million in Annual Revenue
Jul 14, 2026
Almonty Industries Inc., a leading producer of conflict-free tungsten concentrate, is leveraging its Sangdong Mine in South Korea to address Western supply-chain gaps in a metal vital for armor, munitions and electronics. Together with existing op...
Almonty Begins Tungsten Processing at Sangdong Mine, Transitioning to Revenue Operations
Jul 1, 2026
On July 1, 2026, Almonty Industries announced that it has begun processing operations at its Sangdong Mine in South Korea, moving the asset from development into active, revenue-generating production of saleable tungsten concentrate. During June 2...
Almonty Industries Added to Russell 1000 and 3000 Indexes as Tungsten Producer Gains Scale
Jun 29, 2026
Almonty Industries Inc., a major global supplier of conflict-free tungsten concentrate serving defense and high-tech sectors, is building a diversified portfolio anchored by its Sangdong Mine in South Korea, historically one of the world’s l...
Almonty Accelerates Sangdong Molybdenum Drilling as South Korea Faces Supply Crunch
Jun 16, 2026
Almonty Industries Inc., a leading global producer of tungsten concentrate, is expanding its focus into molybdenum at its Sangdong complex in South Korea as part of a broader strategy to support critical mineral supply chains for defense, energy a...
Almonty Industries Closes Oversubscribed US$800 Million Convertible Notes to Fund Tungsten Expansion
Jun 12, 2026
On June 9, 2026, Almonty Industries Inc. closed a significantly oversubscribed US$800 million offering of 2.25% convertible senior notes due 2031, including the full US$100 million over-allotment exercised by initial purchasers. The private Rule 1...
Almonty Industries Shareholders Back Board Slate and Auditor at June 9 AGM
Jun 10, 2026
Almonty Industries Inc., a key tungsten producer serving defense and advanced technology markets, operates the Sangdong mine in South Korea and assets in Europe and the U.S., aligning its portfolio with Western efforts to diversify away from China...
Almonty Industries Prices Oversubscribed US$700 Million Convertible Notes Due 2031
Jun 5, 2026
On June 4, 2026, Almonty Industries priced an oversubscribed private offering of US$700 million in 2.25% convertible senior notes due 2031 to qualified institutional buyers under Rule 144A, with settlement expected on June 9, 2026 and an option fo...
Almonty Industries Plans $700 Million Convertible Notes Offering to Refinance Debt and Support Tungsten Expansion
Jun 4, 2026
On June 4, 2026, Almonty Industries announced a proposed private offering of $700 million in convertible senior notes due 2031, with an option for initial purchasers to buy up to an additional $100 million. The notes will be senior unsecured oblig...
Almonty Rallies Shareholders Ahead of June 9 AGM After Transformational Tungsten Expansion
Jun 1, 2026
On June 1, 2026, Almonty Industries urged shareholders to vote ahead of its June 9 annual general meeting, highlighting a year of rapid expansion in the Western tungsten supply chain. The company emphasized the importance of re-electing its curren...
Almonty Industries Set for Inclusion in Russell 1000 and 3000 Indexes
May 28, 2026
Almonty Industries Inc., a major producer of conflict-free tungsten concentrate, is positioning itself as a cornerstone supplier to Western defense and advanced technology markets. With its Sangdong Mine in South Korea coming online and existing o...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.