Almonty stock rises on Sangdong and Nasdaq focus

Almonty stock is drawing attention as Sangdong moves into processing and the company narrows its trading footprint to Nasdaq.

Almonty Industries (CA0203987072) is trading with two fresh catalysts on August 26, 2026: Sangdong moved into processing operations in July 2026, and the company approved a share repurchase program of up to 14.4 million shares for up to $300 million over 36 months.

The second-quarter 2026 numbers add context. Revenue reached CAD 43.0 million, adjusted EBITDA was CAD 17.6 million, and net income came to CAD 181.8 million, with CAD 173.1 million tied to non-cash valuation gains.

Trading footprint narrows

Almonty also said the Toronto delisting took effect at the end of July, while the ASX removal is slated for September 1, leaving Nasdaq and Frankfurt as the remaining trading venues in the current setup.

The mix matters because the operational step-up at Sangdong arrives alongside a tighter listing structure and a buyback sized at 14.4 million shares. Revenue in Q2 2026 rose 498 percent year over year, which makes the quarter a clear break from the smaller base seen a year earlier.

Quarterly numbers behind the move

For investors, the most important comparison is still the gap between operating performance and reported profit. The company said adjusted EBITDA improved from a loss of CAD 4.8 million a year earlier to a gain of CAD 17.6 million in Q2 2026.

That lift sits next to a net income figure that was heavily shaped by valuation gains rather than the core business alone. The result is a stronger operating quarter, but one that still needs production follow-through from Sangdong to turn into a more stable earnings profile.

More on Almonty Industries stock

Almonty Industries built its story around tungsten, with Sangdong in South Korea and Panasqueira in Portugal forming the core asset base. The latest quarter shows how quickly the operating mix can change when a mine moves from ramp-up toward processing.

Stock level

Almonty Industries stock closed at $18.93 on August 26, 2026, with market cap at CAD 4.401 billion on the latest quote snapshot.

Fact box

Company: Almonty Industries Inc.
ISIN: CA0203987072
Ticker: ALM
Exchange: Nasdaq
Price (as of August 26, 2026, 4:00 p.m. ET): $18.93 USD
Market cap: CAD 4.401 billion (as of August 26, 2026)
Sector / Industry: Materials / Other Industrial Metals & Mining
Index membership: Nasdaq-listed small-cap issuer
Next earnings date: November 2, 2026