Almonty Industries (TSE:AII)
TSX:AII
Want to see TSE:AII full AI Analyst Report?
Top Page
Almonty Industries
(TSX:AII)
Select Model
Select Model
Rating:58Neutral
Price Target:
C$33.00
▲(2.90% Upside)
Action:ReiteratedDate:04/15/26
The score is held back primarily by weak financial performance—sharp margin compression, widening losses, and large negative operating/free cash flow—despite improving leverage and growing revenue. Technicals are a major offset with strong price strength above all key moving averages and positive momentum, while valuation remains pressured due to loss-making earnings (negative P/E) and no provided dividend yield.
Positive Factors
Revenue growth
TTM revenue growth of ~8% indicates the company is expanding tungsten sales and sustaining demand for its produced concentrates. Over 2-6 months this trend supports scale benefits, helps absorb fixed costs, and underpins longer-term recovery if margins and operations stabilize.
Negative Factors
Negative cash generation
Sustained negative operating and free cash flow (~-$82M TTM) is a core structural weakness that forces reliance on external capital or balance-sheet drains. Over months this increases dilution or refinancing risk and constrains the company's ability to fund capex and complete development projects.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth
TTM revenue growth of ~8% indicates the company is expanding tungsten sales and sustaining demand for its produced concentrates. Over 2-6 months this trend supports scale benefits, helps absorb fixed costs, and underpins longer-term recovery if margins and operations stabilize.
Read all positive factors
Almonty Industries (AII) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$8.39B
Dividend YieldN/A
Average Volume (3M)828.06K
Price to Earnings (P/E)―
Beta (1Y)1.82
Revenue Growth12.75%
EPS Growth-821.09%
CountryCA
Employees403
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.49
Shares Outstanding280,373,400
10 Day Avg. Volume933,782
30 Day Avg. Volume828,063
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)7.02
Price to Sales (P/S)77.23
P/FCF Ratio-31.39
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$29.90Price Target Upside-6.77% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.72
Revenue Forecast (FY)C$360.16M
Almonty Industries Business Overview & Revenue Model
Company Description
Almonty Industries Inc. engages in mining, processing, and shipping tungsten concentrate. It owns interests in the Los Santos mine located near Salamanca, Spain; the Panasqueira tin and tungsten mine situated in Covilha and Castelo Branco, Portuga...
How the Company Makes Money
Almonty makes money primarily by selling tungsten products produced from its mining operations. Revenue is generated when ore is mined and processed into saleable tungsten concentrates (and/or other tungsten-bearing products, depending on the oper...
Almonty Industries Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
45
Neutral
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 32.51M | 28.84M | 22.51M | 24.80M | 20.85M |
| Gross Profit | 2.38M | 1.97M | 1.08M | 2.55M | 2.79M |
| EBITDA | -156.37M | -10.24M | -3.39M | -6.85M | -3.32M |
| Net Income | -161.91M | -16.30M | -8.84M | -14.49M | -7.75M |
Balance Sheet | |||||
| Total Assets | 589.73M | 256.35M | 235.33M | 192.84M | 165.85M |
| Cash, Cash Equivalents and Short-Term Investments | 265.95M | 7.83M | 22.02M | 8.44M | 1.05M |
| Total Debt | 162.11M | 158.02M | 130.07M | 89.48M | 67.71M |
| Total Liabilities | 231.92M | 217.28M | 186.83M | 153.09M | 128.36M |
| Stockholders Equity | 357.81M | 39.07M | 48.51M | 39.75M | 37.49M |
Cash Flow | |||||
| Free Cash Flow | -79.98M | -43.73M | -29.19M | -28.33M | -18.44M |
| Operating Cash Flow | -19.14M | -7.50M | -11.70M | -5.57M | -8.44M |
| Investing Cash Flow | -62.27M | -36.23M | -17.49M | -22.75M | -10.00M |
| Financing Cash Flow | 342.00M | 29.37M | 43.37M | 35.22M | 17.19M |
Almonty Industries Technical Analysis
Positive
32.07
Price Trends
23.62
Positive
17.89
Positive
12.81
Positive
Market Momentum
1.99
Negative
69.93
Neutral
87.76
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AII, the sentiment is Positive. The current price of 32.07 is above the 20-day moving average (MA) of 24.03, above the 50-day MA of 23.62, and above the 200-day MA of 12.81, indicating a bullish trend. The MACD of 1.99 indicates Negative momentum. The RSI at 69.93 is Neutral, neither overbought nor oversold. The STOCH value of 87.76 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:AII.
Almonty Industries Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | C$2.88B | 6.33 | 41.51% | 0.94% | 8.75% | 196.72% | |
73 Outperform | C$1.73B | 7.36 | 39.07% | 9.17% | 19.70% | 49.03% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | C$8.39B | -15.51 | -116.13% | ― | 12.75% | -821.09% | |
52 Neutral | C$2.21B | -8.53 | -17.37% | ― | ― | -205.53% | |
48 Neutral | C$2.60B | -18.63 | -91.20% | ― | 21.21% | 21.73% |
* Basic Materials Sector Average
TSE:AII
Almonty Industries
29.94
26.31
724.79%
TSE:AFM
Alphamin Resources
1.35
0.47
53.41%
TSE:ALS
Altius Minerals
51.44
24.67
92.19%
TSE:USA
Americas Gold and Silver
7.99
5.79
263.18%
TSE:LAC
Lithium Americas Corp.
6.35
2.45
62.82%
Almonty Industries Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Almonty Narrows Path to Production at Sangdong as Tungsten Surge Lifts Revenue but Accounting Charge Swings 2025 to Deep Loss
Neutral
Mar 20, 2026
Almonty Industries reported higher 2025 revenue of $32.5 million, up 13%, as surging tungsten APT prices supported its mining operations, but the company posted a steep net loss of $161.9 million largely due to a non-cash charge from revaluing emb...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.