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Almonty Industries
(TSX:AII)
Almonty Industries (AII) vs. iShares MSCI Canada ETF (EWC)
Almonty Industries Business Overview & Revenue Model
Almonty Industries Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 28.92M | 28.84M | 22.51M | 24.80M | 20.85M | 25.09M |
| Gross Profit | 2.12M | 1.97M | 1.08M | 2.55M | 2.79M | -1.37M |
| EBITDA | -41.21M | -10.24M | -3.39M | -6.85M | -3.32M | -7.57M |
| Net Income | -47.14M | -16.30M | -8.84M | -14.49M | -7.75M | -9.06M |
Balance Sheet | ||||||
| Total Assets | 279.04M | 256.35M | 235.33M | 192.84M | 165.85M | 151.06M |
| Cash, Cash Equivalents and Short-Term Investments | 16.98M | 7.83M | 22.02M | 8.44M | 1.05M | 2.37M |
| Total Debt | 171.61M | 158.02M | 130.07M | 89.48M | 67.71M | 61.52M |
| Total Liabilities | 260.94M | 217.28M | 186.83M | 153.09M | 128.36M | 121.89M |
| Stockholders Equity | 18.10M | 39.07M | 48.51M | 39.75M | 37.49M | 29.17M |
Cash Flow | ||||||
| Free Cash Flow | -47.44M | -43.73M | -29.19M | -28.33M | -18.44M | -11.13M |
| Operating Cash Flow | -10.78M | -7.50M | -11.70M | -5.57M | -8.44M | -4.83M |
| Investing Cash Flow | -36.66M | -36.23M | -17.49M | -22.75M | -10.00M | -6.29M |
| Financing Cash Flow | 47.65M | 29.37M | 43.37M | 35.22M | 17.19M | 11.91M |
Almonty Industries Technical Analysis
Almonty Industries Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | C$1.33B | 7.97 | 33.87% | 11.00% | 34.89% | 67.31% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | $2.09B | ― | -42.69% | ― | ― | -465.27% | |
48 Neutral | $1.40B | -17.20 | -92.64% | ― | ― | -381.19% | |
44 Neutral | $1.42B | ― | -144.69% | ― | 14.32% | 37.85% | |
43 Neutral | C$576.78M | -436.00 | -0.62% | ― | ― | 41.18% | |
40 Underperform | C$1.90B | -16.83 | -57.75% | ― | 7.50% | -508.68% |
Almonty Industries Corporate Events
On November 3, 2025, Almonty Industries announced the start of a large-scale drilling program at its Panasqueira Mine in Portugal, aiming to expand production into a new level and potentially extend the mine’s operational life. The 12-month program, with an estimated investment of €2.5 million, involves 14,000 meters of diamond drilling to update the resource model and guide future production planning. This strategic move is part of Almonty’s efforts to strengthen its position as a key supplier of tungsten amid robust demand and pricing, enhancing its long-term production planning capabilities.
The most recent analyst rating on (TSE:AII) stock is a Hold with a C$9.00 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
On November 3, 2025, Almonty Industries Inc. announced the certification of its interim financial filings for the period ending September 30, 2025. CEO Lewis Black confirmed that the filings accurately represent the company’s financial condition and performance, highlighting the company’s commitment to transparency and robust financial controls. The announcement underscores Almonty’s focus on maintaining rigorous financial reporting standards, which is crucial for its stakeholders and market positioning.
The most recent analyst rating on (TSE:AII) stock is a Hold with a C$9.00 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
On November 3, 2025, Almonty Industries Inc. released its unaudited interim condensed consolidated financial statements for the three and six months ended September 30, 2025. The financial report highlights a substantial increase in cash and cash equivalents, rising from $7.83 million to $111.59 million, and an overall growth in total assets from $256.35 million to $433.14 million. This financial improvement reflects positively on Almonty’s operational efficiency and market positioning, potentially enhancing stakeholder confidence and supporting future growth initiatives.
The most recent analyst rating on (TSE:AII) stock is a Hold with a C$9.00 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
On November 3, 2025, Almonty Industries announced its third-quarter financial results, reporting a net income of $33.2 million, driven by a gain from warrant liability revaluation. The company has substantially completed construction at its Sangdong Mine and is transitioning to commercial production, positioning itself as a key supplier in the Western tungsten supply chain amid geopolitical tensions. Almonty also acquired a strategic U.S. tungsten project and commenced a drilling program at its Sangdong Molybdenum project, aiming to address the critical molybdenum supply shortage.
The most recent analyst rating on (TSE:AII) stock is a Hold with a C$9.00 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
Almonty Industries has announced the acquisition of the Gentung Browns Lake Tungsten Project in Montana, a strategic move that positions the company for near-term production in the U.S. tungsten market. This acquisition, valued at $9.75 million, allows Almonty to expand its global footprint and strengthen its position as a leading non-Chinese supplier of tungsten concentrate. The project is located in a historic tungsten district with existing infrastructure, enabling a swift transition to production. The move is expected to enhance Almonty’s ability to meet growing defense and manufacturing demands for tungsten, particularly in the U.S. and allied markets.
The most recent analyst rating on (TSE:AII) stock is a Buy with a C$12.00 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
Almonty Industries Inc. has filed a preliminary base shelf prospectus with Canadian regulatory authorities and a registration statement with the U.S. SEC, allowing it to offer various securities over a 25-month period once finalized. This move aims to provide Almonty with greater flexibility to access new capital, although no specific securities offerings are planned at this time. The prospectus will enable the company to respond to market opportunities and support its strategic initiatives in the tungsten industry.
The most recent analyst rating on (TSE:AII) stock is a Buy with a C$11.00 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
On October 10, 2025, Almonty Industries Inc. announced it has initiated legal proceedings against Pure Tungsten Inc. in the Ontario Superior Court of Justice. The action seeks to address false and misleading statements made by Pure Tungsten about Almonty, its Sangdong Mine, and past involvement of Mr. Tiger Kim. Almonty is requesting the court to restrain Pure Tungsten from disseminating false information and to compel corrective disclosures. The company emphasizes its commitment to market integrity and protecting its shareholders from misinformation.
The most recent analyst rating on (TSE:AII) stock is a Buy with a C$11.00 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
Almonty Industries Inc. has initiated legal proceedings against Pure Tungsten Inc. for disseminating false and misleading statements about Almonty, its Sangdong Mine, and the involvement of Mr. Tiger Kim. The company seeks court intervention to stop the spread of misinformation, correct false claims, and protect its market integrity and shareholder interests. Almonty emphasizes its commitment to transparent business practices and accurate market communication to uphold investor confidence and regulatory compliance in the tungsten sector.
The most recent analyst rating on (TSE:AII) stock is a Buy with a C$11.00 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
Almonty Industries Inc. announced the results of a special meeting of shareholders, where amendments to the currency of outstanding options and warrants were approved. These changes, shifting the exercise currency to Canadian dollars, aim to eliminate accounting distortions and align with the company’s functional currency. The amendments received overwhelming support, with over 99% of votes in favor, indicating strong shareholder backing for the company’s financial strategy.
The most recent analyst rating on (TSE:AII) stock is a Hold with a C$6.50 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
On September 23, 2025, Almonty Industries announced the commencement of a large-scale drilling program at its Sangdong Molybdenum Project in South Korea, aiming to address the critical molybdenum supply shortage in the country. This initiative is expected to confirm mineral reserves and potentially expedite production, which could significantly contribute to South Korea’s resource security and reduce its reliance on imports. The project is anticipated to bring economic benefits to the local community, including job creation and population growth, while enhancing Almonty’s industry positioning.
The most recent analyst rating on (TSE:AII) stock is a Hold with a C$6.50 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
On September 8, 2025, Almonty Industries Inc. announced the distribution of its management information circular and proxy form to shareholders for an upcoming special meeting scheduled for September 29, 2025. The meeting will address amendments to the exercise prices of certain options and warrants, which could impact shareholder value and the company’s financial strategies. The outcome of this meeting may have implications for Almonty’s operational and strategic positioning in the mining sector.
The most recent analyst rating on (TSE:AII) stock is a Hold with a C$6.50 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
Almonty Industries Inc. announced its inclusion in the 2025 TSX30, Toronto Stock Exchange’s ranking of the top 30 performing stocks, reflecting its growth and strategic progress. This recognition highlights Almonty’s role as a key Western producer of tungsten, essential for the U.S. defense sector, and underscores its strategic importance in supporting national security priorities. The company has secured a strategic offtake agreement with SeAH Group for its Sangdong Molybdenum Project and received formal recognition from the U.S. House Select Committee for its role in bolstering U.S. critical minerals supply chains.
The most recent analyst rating on (TSE:AII) stock is a Hold with a C$5.50 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
Almonty Industries has announced the distribution of materials for a special shareholder meeting to vote on a proposed amendment to change the currency of exercise prices for certain warrants and options to Canadian dollars. This amendment aims to eliminate accounting distortions caused by the current currency setup, which results in non-cash losses being reported due to fluctuations in the trading price of common shares. By aligning the currency with the company’s functional currency, the amendment will allow these financial instruments to be recognized as equity, thereby providing a clearer reflection of the company’s financial health and operations.
The most recent analyst rating on (TSE:AII) stock is a Hold with a C$5.50 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.
Almonty Industries reported a significant net loss of $58.2 million in the second quarter of 2025, largely due to non-cash losses from the revaluation of warrant and derivative liabilities. Despite a decrease in revenue and increased operating expenses, the company secured a key offtake agreement for U.S. defense applications and raised US$90 million through a public offering, positioning itself for future growth and strategic importance in the critical minerals sector.
The most recent analyst rating on (TSE:AII) stock is a Buy with a C$7.00 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.