Almonty price target raised to $17 from $10 at B. Riley

B. Riley analyst Nick Giles raised the firm’s price target on Almonty (ALM) to $17 from $10 and keeps a Buy rating on the shares. Almonty is benefiting from record-high tungsten prices, with year-to-date APT pricing up about 50%, and has begun active mining at its Sangdong Tungsten Mine, positioning it as a major Western supply source, the analyst tells investors in a research note. Full run-rate production at Sangdong Phase I is a key 2026 objective, with Phase II expected to double output by 2027, while additional growth catalysts include drilling programs at Panasqueira and Sangdong Molybdenum and expansion into North America via the Gentung Browns Lake Project, the firm says.