Almonty gains after Stifel initiates coverage with 'buy'
ALM•Almonty Industries shares rose 2.6% to $12.73 premarket after Stifel initiated coverage with a buy rating. Stifel said planned production expansion could make the company a leading Western tungsten producer by the end of 2028.
1. Stifel starts coverage
Stifel initiated coverage of Almonty with a buy rating, citing production expansion at its Panasqueira mine in Portugal and the Sangdong project in South Korea. Stifel said the projects would result in Almonty leading Western tungsten production by the end of 2028, and cited potential long-term upside from additional owned assets and a downstream tungsten oxide facility.
