Investment firm DA Davidson has increased its price target for tungsten specialist Almonty from $11 to $12, projecting a substantial 71 percent upside potential. With the stock currently trading around $7, this revised outlook suggests the possibility of a major price movement.
Strategic Acquisition Drives Optimism
The analyst's positive reassessment follows Almonty's strategic $10 million acquisition of a US tungsten project located in Montana. This key purchase could initiate production as early as the second half of 2026, representing a crucial expansion into the North American market.
Matt Summerville of DA Davidson highlighted an "increasingly detailed valuation" of the Montana venture as a primary reason for the upgraded price target. The company's strategic shift to diversify beyond its traditional European operations demonstrates forward-thinking planning.
Quarterly Performance Informs Revised Forecasts
DA Davidson's updated financial models for the fourth quarter of 2025 and long-term projections were influenced by the company's Q3 2025 results. The investment bank raised both revenue and EBITDA estimates, indicating stronger anticipated market conditions within the tungsten sector.
Should investors sell immediately? Or is it worth buying Almonty?
Key operational milestones include:
* Finalization of construction at the flagship Sangdong mine in South Korea
* Initiation of extensive drilling programs at both Sangdong Molybdenum and the Panasqueira mine
* Strategic positioning ahead of planned production ramp-ups
Favorable Tungsten Market Dynamics
The analyst's revision reflects evolving fundamentals in the global tungsten market. DA Davidson points to "ongoing news flow and market developments" as supportive factors. The firm's more optimistic revenue projections are further bolstered by increasing price assumptions for tungsten.
Recent trading activity suggests growing market confidence, with Almonty's stock price recently moving above its 50-day moving average—a technical indicator often interpreted as signaling potential continued upward momentum.
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Almonty Stock: New Analysis - 17 November
Fresh Almonty information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
Read our updated Almonty analysis...
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