DA Davidson Reiterates Buy Rating on Almonty Industries (ALM)

DA Davidson analyst Matt Summerville reiterated a Buy rating and $11.00 price target on Almonty Industries (NASDAQ: ALM).

The analyst commented, "Shortly before the close, Bloomberg reported ALM agreed to buy the past producing Lentung-Browns Lake project located in MT for an unquantified consideration of cash and stock. Based on the report, ALM could restart the mine as soon as late-‘26 subject to obtaining an extraction permit and utilizing reconditioned equipment from assets in Spain to allow for on-site beneficiation. In short, we view this potential deal, paired with its plan to redomicile, as logical steps to quickly establish ALM as a domestic tungsten champion and reliable/transparent supplier of conflict-free material."

For an analyst ratings summary and ratings history on Almonty Industries click here. For more ratings news on Almonty Industries click here.

Shares of Almonty Industries closed at $6.68 yesterday.

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