Sphene Capital keeps Buy rating on Almonty, sets USD 26.40 target

Sphene Capital said the 36-month target implies 92.4% upside from the last close of USD 13.72 and noted a prior CAD 38.90 target. It highlighted a long-term take-or-pay offtake deal with Sandvik unit Wolfram Bergbau und Hütten for Los Santos tailings concentrate, including a conditional USD 3 million upfront payment.