Almonty Industries: Highly volatile environment creates new entry levels
Volatility creates opportunities! Unexplained market fluctuations should not automatically be viewed as a negative. Almonty Industries shows dynamic investors that sector corrections can sometimes hit good stocks, too. From highs of around EUR 20, Almonty shares slid down a slippery slope to EUR 7.70. The company’s positioning shows this was overdone: amid a global transformation, Almonty sits at the intersection of government-imposed raw material constraints, exploding tech demand and critical security of supply. Furthermore, from January 1, 2027, defence suppliers to the US Pentagon will be subject to a strict ban on procuring tungsten from China, Russia, North Korea and Iran, which of course applies regardless of the current market price. As US defence supply chains urgently depend on alternative sources, the spot-market price slump is effectively irrelevant to the metal’s strategic origin.
In this critical window, Almonty has laid the commercial foundations by securing final operating certification for its South Korean Sangdong processing plant. With the first export bags of tungsten concentrate already packed, it has the rare privilege of being able to operate as one of the very few active producers outside the Chinese monopoly. While competing exploration projects in North America are still laboriously drawing up drilling programmes, Almonty can already deliver actual raw material to cushion the looming supply gap in the US defence sector. The planned capacity expansion to 1.2 million tonnes per year by 2027 cements Almonty’s role as an indispensable first mover in a tightly regulated, geopolitically sensitive market.
Following the latest Capital Markets Day, Bank of America issued its first research update. The price target was maintained at USD 24 (upside 185%), and earnings per share are expected to be USD 2.76 for 2027, the first full year of production. By simple arithmetic, that puts the P/E ratio at 3. A raw material producer in the critical metals sector has never been this cheap. So for anyone looking for opportunities: here is one!
In an interview with IIF presenter Lyndsay Malchuk, CEO Lewis Black philosophises about Almonty’s opportunities in challenging times.
CSG: The defence newcomer takes a hit
After its spectacular record IPO in January 2026, shares in Czech defence holding company CSG N.V. on Euronext Amsterdam have taken a significant hit and now trade more than 50% below their all-time high. The reasons are obvious: operationally, CSG’s expected annual revenue growth, forecast at 10 to 15%, lags the spectacular growth rates of established market leaders such as Rheinmetall. Given this fundamental reality check, it becomes clear why the share price is under pressure. However, after repeated tests of the EUR 12 to 14 zone, dynamic investors should now take notice. Major shareholders, including heavyweights such as BlackRock, Artisan Partners and the Qatari sovereign wealth fund QIA, are holding firm on their strategic anchor investments. The billionaire and founder Michal Strnad, aged just 33, also continues to control an undisputed majority of just under 85% of the voting rights. The major shareholders are clearly betting that the Czech ammunition and tank pioneer will remain operationally on track thanks to a bulging order book and the ongoing NATO rearmament boom, and that the extremely low share price merely represents a temporary market overreaction. For 2028, analysts on the LSEG platform calculate a P/E ratio of 8 – only half the figure recorded for Rheinmetall for the same period. Third-quarter figures are expected on November 11.
Steyr Motors: US drone giant puts voluntary takeover offer on the table
Events are unfolding rapidly these days at Austrian specialist engine manufacturer Steyr Motors: US drone developer Red Cat Holdings announced a voluntary public takeover offer on October 19, 2026. Through Vienna-based bidder SMOT Acquisition GmbH, the US group is offering shareholders EUR 39 per share in cash, still a 10% premium after the share price adjustment of the past three days. To legally secure the deal, the parties signed a binding Business Combination Agreement (BCA) on October 21, 2026, which assures employees of employment protection and the Steyr site of a three-year guarantee. Domestic major shareholder B&C Holding, which controls around 15% of the shares, and CEO Julian Cassutti support the transaction and have already irrevocably committed to tendering their shares. Operationally, the company reported a significant recovery just in time for the takeover battle: third-quarter 2026 revenue climbed 11.2% to EUR 12.5 million, supported by major KNDS call-offs and deliveries for a Navy SEALs project. The full takeover is expected to be completed in the first half of 2027, after reaching a minimum acceptance threshold of 50% and securing regulatory approvals. A deal for buyout compensation specialists!
SpaceX: Numerous lock-ups and recurring Tesla rumours
Following the record IPO of Elon Musk’s SpaceX in June 2026, a wave of share releases is heading to the market as the strict lock-up periods gradually expire. While the IPO initially released less than 5% of shares for regular trading, successive releases of employee and early-investor shares from the lock-up will increase the free float to around 40% of the company’s total shares by December 2026. Alongside this massive supply pressure on the stock market, Elon Musk’s October 20 statement on platform X brought the rumour mill surrounding a spectacular merger with Tesla to a boil. Musk surprisingly confirmed that both tech giants have already set up special committees to examine the feasibility of a merger, which he himself describes as a “good idea”. Such a merger would create a gigantic super-corporation worth around USD 3.7 trillion, combining synergies in artificial intelligence, robotics and satellite connectivity. Analysts stress, however, that the biggest hurdle is Tesla’s strict voting procedure, as an absolute majority of all outstanding shareholder votes would be required for this historic mega-merger to succeed. Wall Street experts are already debating the rationale for this mega-merger, while retail investors are exposed to this storm and must decide whether the modest gains since the stock market debut will increase further or melt away in the sun. Difficult to predict – visionary Elon Musk is capable of delivering groundbreaking news every day!
Conclusion
Volatility is king! Some sell-off prices really do leave investors rubbing their eyes. Persistent geopolitical conflicts, street riots within the EU, high inflation and soaring interest rates are weighing on investors’ spirits. Some are even considering reallocating into bonds, but risk-aware investors in particular are setting suitable buying prices for fallen angels. One thing is clear – the next rally is already around the corner, and the cards will be reshuffled by early 2027 at the latest.
Conflict of interest
Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as “Relevant Persons”) currently hold or hold shares or other financial instruments of the aforementioned companies and speculate on their price developments. In this respect, they intend to sell or acquire shares or other financial instruments of the companies (hereinafter each referred to as a “Transaction”). Transactions may thereby influence the respective price of the shares or other financial instruments of the Company.
In this respect, there is a concrete conflict of interest in the reporting on the companies.
In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships.
For this reason, there is also a concrete conflict of interest.
The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies.
Risk notice
Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and the like on news.financial. These contents are exclusively for the information of the readers and do not represent any call to action or recommendations, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. The contents do not replace individual expert investment advice and do not constitute an offer to sell the discussed share(s) or other financial instruments, nor an invitation to buy or sell such.
The content is expressly not a financial analysis, but a journalistic or advertising text. Readers or users who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between Apaton Finance GmbH and its readers or the users of its offers, as our information only refers to the company and not to the investment decision of the reader or user.
The acquisition of financial instruments involves high risks, which can lead to the total loss of the invested capital. The information published by Apaton Finance GmbH and its authors is based on careful research. Nevertheless, no liability is assumed for financial losses or a content-related guarantee for the topicality, correctness, appropriateness and completeness of the content provided here. Please also note our Terms of use.
Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
