Almonty Industries stock falls 2.95 percent as risks mount

Published on 10/05/2026 at 15:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Almonty Industries stock traded at USD 13.01 on October 5, 2026, down 2.95 percent on Nasdaq. Q2 revenue reached C$43.0 million as analyst targets stayed high.

Isometrisches Low-Poly-Diorama einer Mine mit Tagebau, Förderband und Aufbereitungsanlage — Almonty Industries Inc veranschaulicht den Minenbetrieb CA0203987072 als isometrisches Low-Poly-Diorama mit Förderanlage, Illustration mit AI erstellt.

Almonty Industries stock (ISIN CA0203987072) was trading at USD 13.01 on Nasdaq on October 5, 2026, down 2.95 percent from the previous close. The market is weighing the company's auditor transition alongside a sharp operational improvement in its second quarter.

Auditor change adds a governance test

Almonty appointed PricewaterhouseCoopers LLP as its independent auditor effective September 29, 2026, after Zeifmans LLP resigned. The company said the transition was not prompted by disagreements over accounting principles, financial disclosure, or audit procedures, according to StockTitan.

The filing covered audits for fiscal years 2025 and 2024 and said the earlier audit reports carried clean opinions. That makes the auditor switch a governance checkpoint rather than a disclosed accounting dispute, although the next reporting cycle will show how investors assess the change.

Q2 figures show the operating shift

Almonty's Q2 2026 revenue rose 498 percent year over year to C$43.0 million, while income from mining operations reached C$26.1 million. Adjusted EBITDA improved to C$17.6 million from negative C$4.8 million a year earlier, and gross margin reached 60.7 percent, according to InvestorNews.

Net income reached C$181.8 million in the quarter, but C$173.1 million came from non-cash gains tied to derivative and warrant revaluations. Cash stood at C$1.227 billion on June 30, 2026, after the company completed a US$800 million convertible senior notes offering, according to InvestorNews.

Consensus target remains far higher

Investing.com lists a Strong Buy consensus from 11 analysts, including 10 Buy ratings, one Hold and zero Sell ratings. Its average 12-month price target is USD 24.37, with a high of USD 32.27212125 and a low of USD 12.85804505, as of October 5, 2026, according to Investing.com. The average target lies 87.3 percent above the USD 13.01 intraday price.

Stock remains below yearly peak

Almonty Industries stock was trading at USD 13.01 on Nasdaq at 9:47 a.m. ET on October 5, 2026. The quote was 46.7 percent below the 52-week high of USD 24.41, while the market capitalization was USD 3.7 billion and volume stood at 416,303 shares.