Almonty's Tungsten Bonanza Meets Insider Exodus: $227M in Sales Cloud Operational Milestone
Published on 07/13/2026 at 08:13 | Redaktion boerse-global.de
Almonty Industries is navigating a tale of two realities. The tungsten miner posted a 221 percent revenue surge to $25.4 million in the first quarter of 2026, propelled by record metal prices and the commercial launch of its flagship Sangdong mine in South Korea. Yet behind that impressive top-line growth, company insiders have been selling stock at a furious pace — unloading a net $227.6 million worth of shares over the past 90 days, including $75.1 million from executives alone.
The diverging signals have left the stock consolidating after a breathtaking run. Since the start of 2026, Almonty shares have climbed 94 percent in Canadian dollars, and over the past twelve months they have more than tripled, gaining 259 percent. The shares closed Friday at C$23.38, roughly 30 percent below the 52-week high of C$33.35 set on April 17. On a 30-day basis, the stock has slipped 5.54 percent.
Sangdong Powers Revenue Jump
The operational catalyst behind the rally is hard to miss. On July 1, Almonty transitioned the Sangdong mine from construction to commercial processing, with the facility now working through a stockpile of roughly 139,700 tonnes of ore to produce saleable tungsten concentrate. The ramp-up is already visible in the numbers: first-quarter revenue of $25.4 million was more than triple the $7.9 million reported a year earlier.
Should investors sell immediately? Or is it worth buying Almonty?
The timing is fortuitous. Tungsten concentrate prices have surged to an all-time high above $3,100 per metric tonne unit — more than three times the level at the start of 2025. China, which controls about 80 percent of global tungsten supply, tightened its grip on January 6, 2026, by expanding its list of controlled "dual-use" export goods, restricting access to a metal critical for semiconductors, turbine blades, and defense applications. Western buyers are responding with Project Vault, a $12 billion strategic-reserve initiative led by VaultCo LLC and backed by the U.S. Export-Import Bank. Almonty has underscored its commitment to serving the U.S. market by relocating its corporate headquarters from Toronto to Dillon, Montana.
Insider Activity Raises Eyebrows
Against this backdrop of operational progress, the insider selling has been unusually heavy. Director Mark Trachuk sold 200,000 shares on July 2 at $24.07 each, collecting roughly $4.8 million. The transaction followed a round of equity compensation on July 1, when several directors received grants: Daniel D'Amato was awarded deferred share units, Gustave Perna had restricted share units converted into common stock, and Trachuk himself received additional deferred share units. Larger blocks sold over recent months include positions from CEO Lewis Black and D'Amato.
Analysts remain broadly constructive, however. DA Davidson raised its price target after hosting a virtual investor meeting with Black, citing positive signals on Sangdong's ramp, potential future collaboration with the U.S. government, and a solid balance sheet. Among six analysts covering the stock, one rates it a Strong Buy, four rate it Buy, and one rates it Sell. The consensus is a Moderate Buy with a price target of $21.88. The stock now trades about 8 percent below its 50-day moving average of C$25.40, and its relative strength index of 48 indicates neither overbought nor oversold conditions.
Almonty ended June as a new constituent of both the Russell 1000 and Russell 3000 indexes and carries a current ratio of 2.5. The annualized 30-day volatility sits at nearly 97 percent, underscoring the turbulence that has accompanied the stock's meteoric rise. The tension is clear: the Sangdong production engine is running just as tungsten prices hit records, but the insider selloff is tempering enthusiasm — leaving investors to gauge how quickly the revenue momentum can offset the lingering question marks from the corner office.
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