Almonty Shares Surge on Major Analyst Upgrade and US Expansion

Almonty Industries has captured significant market attention following a substantial revision of its valuation by research firm Sphene Capital. The analyst has dramatically increased its price target for the company from CAD 8.40 to CAD 13.50, indicating a potential upside of more than 60% for the tungsten miner's stock.

The primary catalyst for this bullish reassessment is the company's successful strategic move into the United States mining sector. Almonty has completed the acquisition of the Gentung Browns Lake Tungsten Project located in Montana, a development that market experts view as a crucial value driver for the business.

Key operational details for the newly acquired Montana project highlight its near-term potential:

• Commencement of Operations: Production is anticipated to begin in the second half of 2026.
• Projected Annual Output: The site is forecast to yield approximately 140,000 Metric Tonne Units (MTU) of tungsten trioxide.
• Favorable Infrastructure: The presence of existing road access, secured water rights, and proximity to the electrical grid are seen as factors that significantly lower development risks.

Positioning Within Critical US Supply Chains

This acquisition strategically positions Almonty as a key future supplier within American defense and technology supply chains. Establishing a domestic source of tungsten directly addresses the rising demand for critical minerals, aiming to reduce reliance on foreign sources.

Should investors sell immediately? Or is it worth buying Almonty?

This strategic pivot is viewed by the market as reducing the company's overall risk profile. The project is situated within a historic tungsten district that previously supplied the US national stockpile, providing further validation of the asset's inherent potential.

Financial Model Reflects Enhanced Value

The revised CAD 13.50 price target from Sphene Capital reflects the added value of the US operations alongside Almonty's existing asset portfolio. The analyst's updated financial model now incorporates the projected cash flows from the Montana project, which are expected to start contributing to revenue from late 2026 onward.

Such an aggressive increase in the price target signals strong confidence in the management team's ability to execute the project development plan on schedule. Investors are beginning to price in Almonty's ongoing transition from a project developer to a multi-jurisdictional producer with a strategic foothold in North America.