Almonty Industries stock falls 3.90 percent as Sangdong enters commercial phase

Published on 09/28/2026 at 16:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Almonty Industries stock was trading at USD 13.19 on September 28, 2026, while second-quarter revenue rose 498 percent to CAD 43.0 million. Sangdong has entered commercial production after certification.

Tagebau-Mine mit gestuften Felswänden und schweren Muldenkippern im Tageslicht — Almonty Industries Inc betreibt Wolfram-Tagebau CA0203987072 mit Stufenwänden und Muldenkippern im Tageslicht, Illustration mit AI erstellt.

Almonty Industries stock (ISIN CA0203987072) was trading at USD 13.19 on Nasdaq at 10:51 a.m. ET on September 28, 2026, down 3.90 percent from the prior close of USD 13.72. The market move comes as Sangdong in South Korea reaches commercial operation after final certification.

Sangdong clears its final hurdle

According to Almonty Industries on September 21, 2026, inspection certificates issued on September 17 authorized the processing plant and crushing facilities to operate commercially and begin selling tungsten concentrate.

The certificate changes Sangdong's status from construction, commissioning and trial operation to commercial production. The company said more than 90 percent of Phase I production is contracted for 21 years from first delivery, with the amended agreement covering 4,410,000 metric tonne units and minimum annual contracted volumes of 210,000 metric tonne units after ramp-up.

Quarterly figures show the operating shift

InvestorNews reported on September 10, 2026, that second-quarter 2026 revenue rose 498 percent year over year to CAD 43.0 million. Income from mining operations reached CAD 26.1 million, while adjusted EBITDA improved to CAD 17.6 million from negative CAD 4.8 million in the prior-year quarter.

The headline net income figure was CAD 181.8 million, but CAD 173.1 million came from non-cash derivative and warrant revaluation gains. That distinction makes adjusted EBITDA and the physical ramp at Sangdong more useful measures of operating progress than net income alone.

Analyst targets remain above the quote

MarketBeat reported on September 26, 2026, that eight analysts held a Moderate Buy consensus with an average 12-month price target of USD 24.21. The same overview listed Jefferies at USD 26.25, Stifel at USD 25.00, DA Davidson at USD 33.00 and Goldman Sachs at USD 13.00.

For investors, the key test is execution: certification enables sales, but production, shipments and a steady ramp must now validate the earnings potential reflected in the analyst range.

Almonty stock trades below its yearly high

Almonty Industries stock was trading at USD 13.19 on Nasdaq on September 28, 2026, with a session range of USD 13.02 to USD 13.41. Its 52-week range is USD 5.43 to USD 24.41, while market capitalization stood at USD 3.7 billion and volume reached 1,610,776 shares.