BUZZ - Stifel initiates coverage of Almaden with a "Buy" rating, shares rise in response

September 25 - ** Shares of tungsten producer Almonty Industries ALM.O listed on Nasdaq rose 2.6% in pre-market trading to $12.73

** Stifel initiated coverage of the stock with a "buy" rating

** The report states that ALM is expanding production at its Panasqueira mine in Portugal, and together with the Sangdong mine in South Korea, this "will make the company a leading Western tungsten producer by the end of 2028"

** "We also believe further development of the company's own assets and the construction of a downstream tungsten oxide plant will provide long-term upside potential" — Stifel

** Of 10 brokerages, 9 rate the stock "buy" or higher; median target price is $25 — according to LSEG aggregated data

** As of yesterday's close, the stock is up 40.8% year-to-date

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