Deutsche Rohstoff AG Sees Increased Reserves and Valuation

First Berlin Equity Research has updated its recommendation on Deutsche Rohstoff AG, reaffirming a "Buy" stance and raising the target price to €86. The update follows Deutsche Rohstoff AG's year-end 2025 reserves report, which disclosed a significant 46% increase in proved and probable reserves, marking the largest organic growth in the company's history.

This surge in reserves, now totaling 79 million barrels of oil equivalent (BOE), is attributed to better-than-expected performance from new wells and the drilling of additional wells in western Wyoming. The company's proved developed producing reserves amount to 11 times its 2025 production. The estimated future cashflows from these reserves, expressed as PV10, have risen by 12% to USD 553 million, although the increase fell short of BOE growth due to a dip in crude oil futures prices.

Moreover, the value of Deutsche Rohstoff AG's holdings in Almonty Industrial has increased significantly, driven by a 54% rise in Almonty's share price. The improved commodity prices and increased Almonty valuation have contributed to the enhanced price target.