On September 25, Almonty Industries Inc. (NASDAQ Uplisting) rose 8.27% in regular trading, trading at $13.43/share, with turnover of $25.51 million. The stock staged a sharp intraday rebound after earlier falling over 8% to $12.53 following Goldman Sachs' initiation of coverage with a Neutral rating and a $13 price target.
Goldman's target stands dramatically below the analyst consensus mean of $25.43, as well as Jefferies' Buy rating with a $26.25 target and Oppenheimer's Outperform rating with a $25 target. The wide divergence between Goldman's conservative valuation and the broader Street consensus likely drew opportunistic buyers near the $13 level, viewing the dip as a value entry point.
Underpinning the bullish case, Almonty recently secured final operational certification for its flagship Sangdong tungsten mine in South Korea, enabling commercial production and sales. The company also signed a long-term offtake agreement with Sandvik's Wolfram Bergbau unit and extended its deal with Global Tungsten & Powders to 21 years with a 40% volume increase. Additionally, Q2 EPS of $0.45 beat estimates of $0.07 by over 500%, and the board approved a $300 million buyback program.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)