Almonty Industries (ALM) Stock Overview

Engages in mining, processing, and shipping of tungsten concentrates. More details

ALM fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	6/6
Past Performance	2/6
Financial Health	5/6
Dividends	0/6

Rewards

Trading at 63.4% below our estimate of its fair value

Earnings are forecast to grow 38.02% per year

Became profitable this year

Analysts in good agreement that stock price will rise by 68.4%

Risk Analysis

High level of non-cash earnings

Shareholders have been diluted in the past year

Significant insider selling over the past 3 months

Volatile share price over the past 3 months compared to the US market

ALM Community Fair Values

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Almonty Industries Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Almonty Industries
Historical stock prices
Current Share Price	US$15.49
52 Week High	US$24.41
52 Week Low	US$4.51
Beta	1.39
1 Month Change	2.65%
3 Month Change	-13.75%
1 Year Change	247.31%
3 Year Change	3,157.63%
5 Year Change	1,318.50%
Change since IPO	942.47%

Recent updates

Seeking Alpha • Jun 05

Almonty Industries: Buy The Dip And Profit From Tungsten's Supply Chain War

Summary Almonty Industries is uniquely positioned to benefit from the global tungsten supply shock. ALM’s Q1 revenue surged 221% to $25.4M, with positive EBITDA and strong operating cash flow driven by high prices and Panasqueira's sturdy output. Geopolitical supply constraints, robust defense demand, and ALM’s strategic U.S. positioning underpin a multi-year super cycle. The company's Sangdong mine could eventually supply 40% of the world's (non-Chinese) tungsten. The company enters the Russell 1000 and Russell 3000 on June 29, ensuring new investor engagement. I rate it a Strong Buy. With the stock down 18% after yesterday's dilutive $700 million convertible note offering, ALM at $17.00 is an excellent entry point. Read the full article on Seeking Alpha

Shareholder Returns

	ALM	US Metals and Mining	US Market
7D	-11.8%	-2.6%	-1.0%
1Y	247.3%	54.4%	14.1%

Return vs Industry: ALM exceeded the US Metals and Mining industry which returned 54.4% over the past year.

Return vs Market: ALM exceeded the US Market which returned 14.1% over the past year.

Price Volatility

Is ALM's price volatile compared to industry and market?
ALM volatility
ALM Average Weekly Movement	12.7%
Metals and Mining Industry Average Movement	9.7%
Market Average Movement	6.9%
10% most volatile stocks in US Market	15.3%
10% least volatile stocks in US Market	2.9%

Stable Share Price: ALM's share price has been volatile over the past 3 months compared to the US market.

Volatility Over Time: ALM's weekly volatility (13%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
n/a	341	M. Black	almonty.com

Almonty Industries Inc. engages in mining, processing, and shipping of tungsten concentrates. The company explores for tin and tungsten deposits. It holds 100% interests in the Canada, Korea, Portugal, Spain, and the United States projects and mines.

Almonty Industries Inc. Fundamentals Summary

How do Almonty Industries's earnings and revenue compare to its market cap?
ALM fundamental statistics
Market cap	US$4.47b
Earnings (TTM)	US$77.50m
Revenue (TTM)	US$61.89m

57.7x

P/E Ratio

72.2x

P/S Ratio

Is ALM overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
ALM income statement (TTM)
Revenue	CA$85.80m
Cost of Revenue	CA$43.07m
Gross Profit	CA$42.74m
Other Expenses	-CA$64.71m
Earnings	CA$107.45m

Last Reported Earnings

Jun 30, 2026

Next Earnings Date

n/a

Earnings per share (EPS)	0.37
Gross Margin	49.81%
Net Profit Margin	125.23%
Debt/Equity Ratio	147.3%

How did ALM perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/09/13 02:37
End of Day Share Price	2026/09/11 00:00
Earnings	2026/06/30
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Almonty Industries Inc. is covered by 13 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Jacob Sekelsky	Alliance Global Partners
Lawson Winder	BofA Global Research
Nicholas Giles	B. Riley Securities, Inc.

Almonty Industries (ALM) Stock Overview

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Risk Analysis

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Almonty Industries Inc. Competitors

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Price History & Performance

Recent News & Updates

Almonty Industries Approves $300 Million Buyback Program Targeting Up to 14.4 Million Units

Almonty Industries Inc. (NasdaqCM:ALM) announces an Equity Buyback for 14,400,000 shares, representing 5% for $300 million.

Almonty Industries Delivers Record Revenue and Closes $800 Million Notes Issue on Tungsten Strength

Independent Lead Director recently sold US$3.4m worth of stock

Almonty Industries Commences Processing Operations At Sangdong Mine Marking Transition to Saleable Tungsten Concentrate Production

Almonty Industries Inc. Provides Update On Large-Scale Drilling Program At Sangdong Molybdenum Project

Recent updates

Almonty Industries Approves $300 Million Buyback Program Targeting Up to 14.4 Million Units

Almonty Industries Inc. (NasdaqCM:ALM) announces an Equity Buyback for 14,400,000 shares, representing 5% for $300 million.

Almonty Industries Delivers Record Revenue and Closes $800 Million Notes Issue on Tungsten Strength

Independent Lead Director recently sold US$3.4m worth of stock

Almonty Industries Commences Processing Operations At Sangdong Mine Marking Transition to Saleable Tungsten Concentrate Production

Almonty Industries Inc. Provides Update On Large-Scale Drilling Program At Sangdong Molybdenum Project

Almonty Industries: Buy The Dip And Profit From Tungsten's Supply Chain War

First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind

Almonty Industries Inc., Annual General Meeting, Jun 09, 2026

Chief Financial Officer recently sold US$315k worth of stock

Full year 2025 earnings: EPS and revenues miss analyst expectations

Almonty Industries Inc. Completes Phase 1 Commissioning of Sangdong Tungsten Mine in South Korea

Independent Lead Director recently sold US$1.1m worth of stock

Independent Lead Director recently sold US$698k worth of stock

New minor risk - Insider selling

Almonty Industries Inc. Appoints Guillaume Wiesenbach De Lamaziere as Chief Development Officer

Almonty Begins Commercial Mining At Sangdong Tungsten Mine

Almonty Industries Inc. has completed a Follow-on Equity Offering in the amount of $112.5 million.

Almonty Industries Inc. has completed a Follow-on Equity Offering in the amount of $112.5 million.

Chairman recently bought US$317k worth of stock

Almonty Industries Inc. Appoints Steven L. Allen as Chief Operating Officer

Corporate Secretary recently sold US$198k worth of stock

Almonty Industries Inc. (TSX:AII) completed the acquisition of Gentung Browns Lake Tungsten Project from U.S. Tungsten Inc.

Corporate Secretary recently sold US$198k worth of stock

Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind

Almonty Industries Inc. Commences Large-Scale Drilling Program at Sangdong Molybdenum Project

New major risk - Shareholder dilution

Second quarter 2025 earnings released: CA$0.30 loss per share (vs CA$0.011 loss in 2Q 2024)

Almonty Industries Inc. Announces CFO Changes, Effective August 25, 2025

Almonty Industries Inc. has completed a Follow-on Equity Offering in the amount of $90 million.

Almonty Industries Inc. has filed a Follow-on Equity Offering in the amount of $75 million.

Almonty Industries Inc. Appoints Alan Estevez to Board of Directors, Effective May 30, 2025

Almonty Industries Inc. Appoints General Gustave F. Perna to Board of Directors

Almonty Industries Inc., Annual General Meeting, Apr 30, 2025

Almonty Industries Inc. has filed a Follow-on Equity Offering in the amount of AUD 5.744 million.

Almonty Advances Sangdong Mine with Installation of Metso Equipment for Tungsten Processing Plant

Almonty Industries Inc. has filed a Follow-on Equity Offering in the amount of AUD 1.86 million.

Almonty Industries Inc. announced that it has received CAD 0.4125 million in funding

Almonty Industries Inc., Annual General Meeting, Jun 28, 2024

Almonty Industries Inc. Announces Board Changes

Almonty Industries Inc. Provides Sangdong Mine Construction Update

Almonty Industries Inc. Provides Construction Update At Sangdong Tungsten Mine

Almonty Industries Inc. has completed a Follow-on Equity Offering in the amount of AUD 2 million.