Almonty stock price jumps as analyst target hikes put tungsten squeeze back in play

New York, Feb 3, 2026, 13:20 ET — Regular session

• Almonty shares jump roughly 13% in midday trading, boosted by heavy volume
• Alliance Global Partners raises its price target to $14 while maintaining a buy rating
• Attention turns to tungsten pricing cues and the upcoming earnings release date

Almonty Industries Inc shares jumped roughly 13.4% to $12.87 during midday trading on Nasdaq Tuesday. The surge came after Jake Sekelsky bumped his price target for the tungsten miner up to $14 from $9.50. The stock fluctuated between $11.52 and $13.07, with over 4.2 million shares trading hands.

A separate note from Sphene Capital GmbH highlighted tungsten prices breaking past $1,000 per MTU — the metric ton unit used in trading — for APT, ammonium paratungstate, a key intermediate often serving as a benchmark. Sphene set its reference price near $1,250 per MTU and raised its 36-month price target to C$20.10, up from C$13.50.

This is significant since tungsten now falls under the same policy category as other “critical minerals” — a niche market with defence and industrial applications that governments prefer to source beyond China. When prices tighten, stocks, particularly smaller ones, can see outsized moves.

The Wall Street Journal reported on Feb. 1, with the story republished by the company, that miners are enlisting retired U.S. generals to better navigate Washington and win Department of Defense contracts. Almonty brought on retired four-star Army Gen. Gustave Perna and appointed retired Brig. Gen. Steven Allen to an operating role. Perna’s advice was blunt: “Why are you knocking on that door? You should be over here.” Chris Berry of House Mountain Partners told the Journal that these military hires indicate “a level of access in the Pentagon.” The article also highlighted MP Materials, United States Antimony, and USA Rare Earth as similar cases. Almonty Industries

Sekelsky linked the target increase to strategic initiatives and strong tungsten prices. He also pointed to Almonty’s equity financing and the launch of active mining at South Korea’s Sangdong Mine as key drivers behind “significant growth” expected in 2026.

A price target reflects an analyst’s projection of where a stock might trade down the line—not a guarantee. Yet traders keep a close eye on them, since these estimates can lure in new buyers and push short sellers to cover, especially when a stock has low float.

The story hinges heavily on two fast-moving factors: commodity prices and execution. If tungsten prices drop, or mine ramp-ups drag out longer than planned, today’s bid could vanish just as quickly.

Investors will be watching closely for any updates on ramp timing, contracts, and cash needs. The stock has shown sensitivity to research notes and macro headlines, a trend that can swing in either direction.

Traders are eyeing Almonty’s fourth-quarter results, set for release on March 26, according to MarketWatch.