BUZZ-Almonty rises after tungsten supply deal with Sandvik unit

Nasdaq-listed shares of tungsten producer Almonty Industries ALM.O rise 4.5% to $13.98 premarket

Co signs a tungsten supply agreement with a unit of Swedish industrial group Sandvik SAND.ST

Deal includes a conditional upfront payment of $3 mln and covers tungsten recovered from existing mine waste

The tie-up supports growing demand for non-Chinese tungsten supplies ahead of tighter US sourcing rules due in 2027, co says

All 8 brokerages covering the stock rate it "buy" or higher, their median PT is $25, according to LSEG-compiled data

As of last close, ALM stock is up around 53% YTD