Almonty Industries Surges on Long-Term Deals and Share Buyback

Almonty Industries has become a focal point of attention from Wall Street investors. The tungsten specialist has secured long-term offtake agreements, cleared regulatory hurdles in multiple continents, and initiated a share buyback program worth up to $300 million.

The company's stock price closed at EUR 12.09 on Friday, marking an 11% increase on the day and a year-to-date advance of 52%. This surge has drawn mixed opinions from analysts.

Goldman Sachs initiated coverage with a neutral rating and a $13.00 price target, while Stifel took a more bullish stance, launching coverage with a buy recommendation and a $25.00 target. This disparity in opinion suggests that investors remain divided on the company's prospects.

Stifel analyst Brock Cannon points out that China dominates the global tungsten market, controlling approximately 80% of mine production and 85% of downstream refining capacity. The imposition of export controls by Beijing has led to a significant surge in prices, with tungsten values rising around 775% since the start of 2025.

With industrial and defense buyers seeking alternative supplies, Almonty is positioning itself to fill this gap through its supply agreements. A long-term contract with Wolfram Bergbau und Hütten AG for the reprocessing of tailings at the Los Santos mine in Spain has strengthened the company's commercial foundations.