New York, May 23, 2026, 17:04 EDT
- Almonty’s shares on Nasdaq ended Friday at $18.66, slipping 0.69% for the session, though the stock is up 6.9% compared to where it finished the previous Friday.
- U.S. markets won’t open Monday because of Memorial Day, so Nasdaq trading in ALM will pick up Tuesday.
- Tungsten is still the main story for the stock, with new European stockpile plans and strong industrial pricing keeping attention on the metal.
Almonty Industries Inc. finished Friday at $18.66, down 0.69% on the day, but still ended the week almost 7% higher on Nasdaq. Shares saw some after-hours movement at $18.60. Investors have been looking to Almonty as a way to get away from Chinese tungsten this week, keeping demand strong even with a small drop on Friday.
Nasdaq will shut for Memorial Day on Monday, May 25, which means U.S. investors won’t get another full day in ALM until Tuesday.
The jump in the stock is tied more to tightness in the tungsten market than to last Friday’s numbers. Tungsten is used in defence, aerospace, and drilling equipment. Last week, Reuters said the European Union has put tungsten on its shortlist for the first joint critical-minerals stockpile, meant to reduce reliance on China.
Almonty is now trading as a cleaner public-market play on the theme. Reuters said in April that tungsten prices hit a record and Almonty, one of the main producers outside China, started mining at the Sangdong mine in South Korea in March. The U.S. did not have any commercial tungsten mines running at that time.
Almonty AII shares finished at C$25.80 Friday on the Toronto Stock Exchange, slipping 0.35% on the session but still ahead of the C$24.02 close a week ago. The TSX calendar put Victoria Day on May 18 this year, not May 25, so Toronto will offer the first exchange pricing for the name in the upcoming week.
Almonty’s first-quarter results landed some big gains. Revenue jumped 221% to $25.4 million, adjusted EBITDA swung to $6.1 million, and operating cash flow hit $9.7 million. Even so, the miner reported a net loss of $5.3 million. CEO Lewis Black described the quarter as a “pivotal moment.” Interim finance chief Guillaume de Lamaziere cited “operating leverage” with tungsten prices climbing. Business Wire
Alliance Global’s Jake Sekelsky bumped up his price target on Almonty, moving it to $26.25 from $19.25 while sticking with his Buy call, The Fly reported via StockAnalysis. The new target sits about 41% over where shares finished on Nasdaq Friday.
The group of competitors is small and not a perfect match. Tungsten West plans to restart the Hemerdon tungsten mine in Devon, and Guardian Metal Resources calls its Pilot Mountain project one of the biggest undeveloped tungsten deposits in the U.S. These sites are in focus as credible new Western supply could shift how investors see Almonty’s scarcity premium.
The same tight tungsten market that’s been good for Almonty can hurt too. Reuters said U.S. drill-bit companies are switching to steel-based tools as tungsten gets pricier, with Enverus analyst Mark Chapman flagging “tradeoffs between durability and cost.” If demand drops, Chinese exports pick up, or Sangdong’s costs jump, the stock might lose this week’s gains fast. Reuters
Toronto will open trading on the story Monday, giving investors the first crack at it this week. Nasdaq traders aren’t up until Tuesday. The key question is if the market prices Almonty for better cash flow like a miner, or lumps it in with the rest of the busy critical-minerals trades following its recent surge.
