Almonty Industries Positioned for Near-term Revenue Bump as South Korean Tungsten Mine Ramps

Dow Jones07-10

Almonty Industries will likely benefit from near-term revenue and earnings as it ramps up the Sangdong tungsten mine in South Korea, capturing higher spot price of the metal. DA Davidson analyst Matt Summerville says that global tungsten and molybdenum prices are hovering near historical highs on stronger demand, which should drive revenue through 2028 higher than previously thought. Beyond Sangdong, the company has other projects that will continue to contribute, alongside upcoming downstream products like tungsten oxide. DA Davidson raises its target price on the stock to $33 from $25, noting its model assumptions remain conservative relative to current commodity spot prices. Shares are trading 8.3% higher at $15.78 in New York. (adriano.marchese@wsj.com)

(END) Dow Jones Newswires

July 10, 2026 11:49 ET (15:49 GMT)

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