Maaden commissions USD 900 million plant: 11 analysts rate Maaden stock Neutral
Published on 10/09/2026 at 14:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- Maaden completed utilities commissioning for a USD 900.0 million ammonia plant on October 9, 2026.
- The Phosphate 3 project is set to add 3.0 million tonnes of phosphate fertilizer capacity.
- The latest Saudi Exchange quote was SAR 62.40 on October 8, 2026, with a SAR 54.90 to SAR 79.90 52-week range.
- The next earnings report is scheduled for November 3, 2026.
Maaden completed utilities commissioning for a USD 900.00 million ammonia plant on October 9, 2026, while an 11-analyst consensus remained Neutral. Gulf Construction reported the commissioning, and AlCircle cited the Neutral consensus on October 7, 2026.
Phosphate 3 adds 3 million tonnes
The ammonia facility is the first project in Maaden's USD 6.40 billion Phosphate 3 expansion. Gulf Construction said the project will add 3 million tonnes of phosphate fertilizer capacity, taking Maaden's total production capacity above 9 million tonnes.
The same report said ammonia output is set to rise by more than 1 million tonnes to 3.3 million tonnes. That makes construction execution the key link between the headline investment and future volume growth.
Chronology shows a mixed earnings picture
On September 9, 2026, MarketScreener reported first-half 2026 revenue of SAR 19.70 billion, up 10.00 percent from SAR 17.90 billion, while net profit slipped 0.60 percent to SAR 4.07 billion from SAR 4.09 billion.
On October 7, 2026, AlCircle reported that second-quarter 2026 aluminium revenue rose 49.00 percent year over year to USD 1.01 billion, with realized aluminium prices up 51.00 percent to USD 3,915.00 per tonne.
On October 9, 2026, the plant commissioning added a third quantified milestone to the sequence. The timeline moves from first-half revenue growth to stronger aluminium pricing and then to phosphate expansion capacity.
What does the project mean for capacity?
The immediate answer is scale. The 3 million tonnes of additional phosphate fertilizer capacity would lift Maaden's total above 9 million tonnes, while ammonia capacity would reach 3.3 million tonnes, according to Gulf Construction.
Next earnings date is November 3
Investing.com lists November 3, 2026 as Maaden's next earnings date. The release will provide the next reported test of aluminium pricing, phosphate margins and project execution.
Stock remains 21.90 percent below high
Maaden's latest Saudi Exchange quote was SAR 62.40 on October 8, 2026 at 3:11 p.m. AST, versus a prior close of SAR 63.00, a change of minus 0.95 percent. The 52-week range was SAR 54.90 to SAR 79.90, placing the quote 21.90 percent below the high, while market capitalization was SAR 242.2 billion.
Maaden stock facts
- Company: Saudi Arabian Mining Company
- ISIN: SA123GA0ITH7
- Ticker: 1211
- Primary exchange: Saudi Exchange
- Price Saudi Exchange (as of October 8, 2026, 3:11 p.m. AST): SAR 62.40
- Change versus prior close: minus 0.95 percent
- Prior close Saudi Exchange (October 7, 2026): SAR 63.00
- Market capitalization: SAR 242.2 billion (as of October 8, 2026)
- 52-week range: SAR 54.90-SAR 79.90 (as of October 8, 2026)
- Sector / Industry: Basic Materials / Industrial Materials
- Next earnings date: November 3, 2026
Market context: Latest market reports.
