Almonty initiated with a Buy at DA Davidson

DA Davidson analyst Griffin Bryan initiated coverage of Almonty (ALM) with a Buy rating and $7 price target Almonty, which possesses multiple tungsten resources, is poised to become the only U.S.-based producer of tungsten, a critical material utilized in key military/defense, aerospace, semiconductor, energy, and automotive applications, the analyst tells investors. The firm sees potential for the shares to rerate even higher longer-term as more formalized ramp plans and timelines unfold beyond its Phase I start-up at the Sangdong Mine in South Korea.