12 Undervalued Stocks to Buy According to Wall Street

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6. Almonty Industries Inc. (NASDAQ:ALM)

Average Upside Potential: 65.89%

Almonty Industries Inc. (NASDAQ:ALM) is one of the undervalued stocks to buy according to the Wall Street. On July 1, Almonty announced the commencement of processing operations at its Sangdong Mine in South Korea, marking the transition from mine development to active, revenue-generating production. During June, the company began feeding its newly commissioned plant with stockpiled ore to produce saleable tungsten concentrate, establishing a critical operational milestone for the facility.

The company entered the production phase with approximately 139,700 tonnes of run-of-mine ore, featuring a blended grade of roughly 0.25% tungsten trioxide. The processing plant is currently utilizing this stockpile to optimize ore blending and ensure consistent feed quality during the initial ramp-up, with management anticipating higher grades as operations progress.

This initial stockpile represents about 2.6 months of production capacity for the plant’s first phase, holding an estimated gross in-process value of approximately $68 million at current market prices. By moving into this active phase, Almonty Industries Inc. (NASDAQ:ALM) solidifies its position as a global producer of tungsten concentrate while leveraging the high-purity potential of the Sangdong deposit.

Almonty Industries Inc. (NASDAQ:ALM) is a leading supplier of tungsten to the defense and advanced technology markets. The company has established operations in Portugal and additional projects in Spain and the US.

While we acknowledge the potential of ALM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ALM and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 Undervalued Stocks to Buy According to the Wall Street.

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