AII
Live News • Jun 05
Almonty Industries Reports 221% Revenue Growth as Sangdong Mine Reaches Commercial Production Almonty Industries has completed commissioning and started commercial production at its Sangdong tungsten mine in South Korea, which is described as one of the world’s largest and highest-grade tungsten deposits.
The company reported 221% year-over-year revenue growth in Q1 2026, supported by output from Sangdong and the Panasqueira mine in Portugal, alongside record tungsten prices tied to tight supply and rising demand from sectors such as defense, semiconductors, AI and fusion energy.
Almonty has relocated its headquarters to Dillon, Montana, secured a 15-year offtake contract with U.S. defense customers, and obtained full ownership of the Gentung Browns Lake Tungsten Project in Montana, which is expected to begin production in late 2026.
These moves point to Almonty positioning itself as a key Western supplier of tungsten outside China, with long-term offtake agreements offering a degree of revenue visibility while the company ramps up new production.
You should keep an eye on execution risks around scaling Sangdong and bringing Gentung into production, as well as any changes in tungsten prices or geopolitical trade policies that could affect demand and pricing. Price Target Changed • May 16
Price target increased by 16% to CA$27.44 Up from CA$23.71, the current price target is an average from 7 analysts. New target price is 14% above last closing price of CA$24.02. Stock is up 567% over the past year. The company is forecast to post earnings per share of CA$0.52 next year compared to a net loss per share of CA$0.78 last year. Reported Earnings • May 13
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: CA$0.019 loss per share (improved from CA$0.19 loss in 1Q 2025). Revenue: CA$25.4m (up 221% from 1Q 2025). Net loss: CA$5.26m (loss narrowed 85% from 1Q 2025). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 294 percentage points per year, which is a significant difference in performance. 
