10:31 AM EDT, 08/11/2025 (MT Newswires) -- Almonty Industries ( ALM ) is poised to become the world's largest miner of tungsten outside of China and Russia, Oppenheimer said in a Monday note.

As the US Department of Defense implements bans on non-friendly-sourced critical materials and China restricts the export of tungsten and other rare earths, Almonty is expected to benefit from rising tungsten prices, the note said.

Almonty Industries ( ALM ) is estimated to "roughly triple its production by 2027" and account for approximately 40% of the "friendly produced" tungsten, Oppenheimer added.

The firm initiated coverage on the stock with an outperform rating and a $7 price target.

Price: 4.33, Change: +0.21, Percent Change: +4.98