Almonty Hits Production Milestone as Company Insiders Unload Shares
Published on 07/13/2026 at 12:45 | Redaktion boerse-global.de
The long-awaited commercial ramp-up at Almonty Industries' Sangdong tungsten mine in South Korea has finally arrived, but the celebration on the trading floor is being tempered by an extraordinary wave of insider selling. The company began producing sellable tungsten concentrate on July 1, a moment that transformed Almonty overnight from a project developer into a certified producer. Markets initially cheered: the stock jumped nearly 11% in New York on July 10 to $14.70, while shares on the Toronto Stock Exchange surged 12.4% to C$23.38. The Russell 1000 and 3000 index inclusion that followed added further momentum.
Yet behind that rally, corporate insiders have been heading for the exits at a clip that raises questions even among bulls. Over the past 90 days, net insider disposals totaled $227.6 million, with executives accounting for $75.1 million of that sum. Director Mark Trachuk sold 200,000 shares on July 2 at $24.07, pocketing roughly $4.8 million. Others, including Michael Lewis Black and Daniel D'Amato, also offloaded significant blocks. At the same time, several directors received deferred share units and restricted share units converted into common stock, adding to the total equity that changed hands.
Analysts, however, remain broadly optimistic, citing the concrete progress at Sangdong and the record price environment for tungsten. DA Davidson raised its price target from $25 to $33, while Bank of America Securities held firm on its buy rating. The consensus from six covering analysts lands at a "Moderate Buy," with an average target of $21.88 — implying limited upside from current levels, but reflecting the complex risk-reward equation. A virtual investor meeting with CEO Lewis Black reinforced confidence in Sangdong's ramp-up, potential U.S. government collaboration, and a solid balance sheet.
Should investors sell immediately? Or is it worth buying Almonty?
Despite the operational breakthrough, the stock's price action over the past month tells a more cautious story. The shares are down 5.54% over 30 days and trade about 30% below their 52-week high of C$33.35 reached in April. On a longer view, the gains remain spectacular: up roughly 95% year-to-date and 259% over the past twelve months. Yet the 30-day annualized volatility hovers near 97%, a level that speaks to the extreme conviction — and skittishness — among traders. The RSI reading of 48 suggests neither overbought nor oversold conditions, pointing to a consolidation phase after the sharp rise.
The tension between operational achievement and insider retreat is unlikely to resolve quickly. Almonty is not yet profitable, meaning its valuation rests heavily on expectations for Sangdong's production volumes and tungsten pricing. The company will now be measured by how fast it can scale up concentrate output, while the insider selling pattern will keep a cloud of skepticism over the stock even as analysts point to the hard evidence of metal being shipped. For investors, the question is whether the insiders know something about the ramp that the market has not yet priced in — or simply decided to take profits after a staggering run.
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