Almonty Hits Production Milestone at Sangdong as Analyst Price Target Jumps to $33
Published on 07/11/2026 at 10:11 | Redaktion boerse-global.de
The race to secure non-Chinese tungsten supply just got a serious contender. Almonty Industries has pushed its Sangdong mine in South Korea into active processing, converting stockpiled ore into saleable concentrate for the first time. The achievement landed on the same day as a sharp upgrade from DA Davidson, which raised its price target from $25 to $33 and kept a buy rating on the stock. The combination sent shares nearly 10 percent higher on Friday to C$22.82.
Investor enthusiasm, however, has been tempered by the sheer volatility that defines this stock. Despite Friday’s surge, the shares closed the week down 1.38 percent, reflecting the tug-of-war between long-term strategic optimism and short-term market mechanics. Over the past month, Almonty has still added 7.19 percent, and the longer view shows a stock that has rallied 89.69 percent year-to-date and 193.32 percent over the past twelve months. The company currently carries a market capitalisation of roughly €3.64 billion.
Sangdong is the centrepiece of that story. The deposit ranks among the world’s largest known tungsten reserves, and Almonty is positioning it as a reliable, western-aligned alternative to the supply lines that have long run through China. The timing is critical: starting January 2027, the U.S. Department of Defense will prohibit tungsten purchases from China, Russia, North Korea and Iran. Almonty plans to double the mill’s throughput by that year, giving it the capacity to serve buyers that are already scrambling to diversify.
The market recognised the milestone, but not without a dose of caution. Almonty’s stock trades roughly 10 percent below its 50-day moving average of C$25.40 and more than 31 percent off the 52-week high of C$33.35 set in April 2026. The relative strength index of 45.8 points to neutral territory — neither overbought nor oversold. A convertible note in the high hundreds of millions of euros, flagged in earlier reports, continues to loom as a source of potential dilution for equity holders.
Should investors sell immediately? Or is it worth buying Almonty?
Analyst support remains robust beyond DA Davidson. Texas Capital holds a “Strong Buy” rating, while B. Riley set a $23 price target. The consensus across covering houses sits at “Moderate Buy,” reflecting the delicate balance between Almonty’s strategic copper-bottomed thesis and the risks inherent in a capital-intensive ramp-up.
Balancing those risks is a financial position that few junior miners can match. Almonty reports roughly $32.5 million in revenue, a cash pile of about $260 million, and a current ratio of 2.5, giving it significant room to execute its expansion without constant capital calls. The first concentrate sales from Sangdong will now be scrutinised for consistency — the market has shown it will reward not just production announcements, but reliable, repeatable output.
Almonty is far from alone in riding the wave of critical mineral rebalancing. Across the sector, peers such as Lynas Rare Earths and Arafura Rare Earths are also capitalising on China’s tighter export controls, with ammonium paratungstate prices more than tripling this year and antimony topping $60,000 per tonne. Yet each company faces its own hurdles — permitting delays, financing gaps, and resource estimates — that differentiate the winners from the also-rans.
Almonty at a turning point? This analysis reveals what investors need to know now.
For Almonty, the next few months will test whether operational progress can convert into sustained commercial substance. The Sangdong mill is running, the analyst community is on board, and the geopolitical tailwind has rarely been stronger. The challenge now is to turn that momentum into a string of quarters that demonstrates not just production, but profitability.
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Almonty Stock: New Analysis - 11 July
Fresh Almonty information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
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