Almonty Industries stock gains as Sangdong clears final hurdle
Published on 09/22/2026 at 11:46 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Almonty Industries Inc. (CA0203987072) closed at USD 14.66 on Nasdaq on September 21, 2026, up 5.92 percent from the prior close. The immediate catalyst was final operational certification for the Sangdong processing plant in South Korea, moving the tungsten project into commercial operation.
Sangdong enters commercial operation
According to Almonty Industries on September 21, 2026, inspection certificates issued on September 17 authorized commercial operation of the processing and crushing facilities. The company said ore had been running through the plant since June 2026, but the certification enables concentrate to be invoiced, shipped and sold.
The commercial milestone also changes the central execution test. Almonty stated that more than 90 percent of Phase I production is contracted for 21 years from first delivery, with the amended agreement covering 4.41 million metric tonne units and minimum contracted volumes of 210,000 metric tonne units per year after ramp-up.
Revenue and margin show operating leverage
Almonty's second-quarter 2026 revenue reached CAD 43.0 million, an increase of 498 percent from the prior-year period. Mining profit was CAD 26.1 million, while adjusted EBITDA moved from a loss of CAD 4.8 million in the second quarter of 2025 to a gain of CAD 17.6 million in the second quarter of 2026, according to Ad-hoc News.
The reported gross margin was 60.7 percent in the second quarter of 2026. Net income of CAD 181.8 million included CAD 173.1 million of non-cash gains, so the EBITDA improvement provides a clearer view of operating performance than the headline net result.
Analyst targets exceed the market price
According to MarketBeat on September 21, 2026, Jefferies began coverage with a Buy rating and a USD 26.25 price target on September 2, while DA Davidson reaffirmed Buy and set a USD 33.00 target on September 15. The same report cited an average analyst target of USD 26.81.
That optimism comes with a measurable counter-factor. MarketBeat reported a market capitalization of USD 4.10 billion, a price-to-earnings ratio of 88.92 and a beta of 3.75, while production ramp-up and cash-flow execution remain the key tests after the certification milestone.
Nasdaq price reflects the certification
Almonty Industries stock closed at USD 14.66 on Nasdaq on September 21, 2026, with a daily gain of 5.92 percent. The same market snapshot showed a 52-week range of USD 4.88 to USD 24.41, placing the close below the yearly high despite the latest operational advance.
Almonty Industries stock facts
- Company: Almonty Industries Inc.
- ISIN: CA0203987072
- Ticker: ALM
- Trading venue: Nasdaq
- Price (as of September 21, 2026): USD 14.66
- Market capitalization: USD 4.10 billion (as of September 21, 2026)
- Sector / Industry: Materials / Tungsten mining
