Canada's Almonty 2025 revenue rises 13%, net loss widens on non-cash charges

Overview

• Canada tungsten producer's 2025 revenue rose 13% yr/yr, driven by higher tungsten prices

• Company posted C$161.9 mln net loss, mainly due to non-cash derivative revaluation charges

• Almonty began active mining at Sangdong Mine and raised cash through a public share offering

Outlook

• Company focused on commissioning Sangdong Mine and optimizing throughput to meet rising demand

• Almonty expects structural supply deficit in tungsten to deepen, supporting strong pricing

• Company anticipates increased demand from Western governments and defense customers for secure tungsten supply

Result Drivers

• TUNGSTEN PRICE SURGE - Revenue growth driven by a 534% yr/yr increase in average APT tungsten price

• SANGDONG MINE RAMP-UP - Transition to active mining at Sangdong Mine marked a key operational milestone

• HIGHER ADMIN COSTS - General and administrative expenses rose due to legal and regulatory costs tied to capital markets activities

Company press release: ID:nBw9ppMZfa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the specialty mining & metals peer group is "buy"

• Wall Street's median 12-month price target for Almonty Industries Inc is C$17.65, about 27.5% below its March 18 closing price of C$24.36

• The stock recently traded at 60 times the next 12-month earnings vs. a P/E of 54 three months ago

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