Kennametal stock jumps on Jefferies upgrade as tungsten prices hit fresh highs
New York, January 13, 2026, 12:28 EST — Regular session Kennametal Inc shares jumped about 8.4% to $33.32 in midday trading Tuesday after Jefferies upgraded the industrial toolmaker and raised its price target. The stock gained $2.60, hitting a high of $34.14, with volume just over 1 million shares. (TradingView) The timing is tricky for investors: tungsten, crucial for carbide cutting tools, has been surging. On Tuesday, a China benchmark for ammonium paratungstate (APT)—a key intermediate for pricing tungsten—hit 725,000 yuan per metric ton, according to Shanghai Metal Market data. (Metal) Jefferies analyst Stephen Volkmann upgraded Kennametal from Hold to