Almonty Industries Secures Russell Index Inclusion as Sangdong Mine Set to Begin Processing
Published on 07/11/2026 at 12:26 | Redaktion boerse-global.de
Tungsten’s emergence as a critical mineral in the Western supply chain is pushing Almonty Industries from developer to producer, and the market is taking notice. Shares jumped 12.4% on Friday to C$23.38, powered by a triple catalyst: a firm production start date at the Sangdong mine, a sharply higher analyst price target, and entry into the Russell 1000 and 3000 indices.
At the heart of the move is the South Korean operation’s scheduled transition from development to active processing on July 1. Almonty will begin feeding an initial 139,700 tonnes of already stockpiled ore through the mill, producing tungsten concentrate for the first time. At current record prices, the company estimates the gross value of that first batch at roughly US$68 million. The shift marks a fundamental change for the business, which has until now focused solely on mining raw ore.
DA Davidson responded by lifting its price target from US$25 to US$33 and reaffirming a Buy rating. The bank pointed to the production progress at Sangdong, a solid balance sheet, elevated tungsten prices, and the possibility of U.S. government backing for the project. Other analysts are also bullish: Texas Capital retains a “Strong Buy” rating, and B. Riley holds a US$23 target. The consensus sits at “Moderate Buy.”
Should investors sell immediately? Or is it worth buying Almonty?
Adding to the momentum, Almonty was added to the Russell indices effective with the June 29 open. The inclusion places the company among larger-cap U.S.-listed equities and widens the investor base just as geopolitical pressure to diversify away from Chinese tungsten supply intensifies.
Financially, Almonty is well positioned for the ramp-up. The company reported US$32.5 million in revenue and holds roughly US$260 million in cash, with a current ratio of 2.5. Over the past twelve months the stock has more than tripled — gaining 193.32% — and year-to-date it is up 94.35%. Still, it remains 31.57% below its 52-week high of C$33.35 set in April, leaving room for both upside and continued volatility.
The technical picture is neutral for now. The stock trades about 10% below its 50-day moving average of C$25.39, and the RSI of 45.8 signals neither overbought nor oversold conditions. Market capitalisation stands at roughly €3.64 billion. On a weekly basis, the shares slipped 1.38% despite the Friday surge, though the monthly gain is 7.19%.
The coming weeks will test whether the record tungsten prices that underpin Sangdong’s economics hold as production ramps up. With the mill about to turn ore into cash, Almonty is positioning itself as the West’s go-to alternative to Chinese supply — but sustainable free cash flow depends on market prices staying elevated long enough to match the company’s ambitious production timeline.
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Almonty Stock: New Analysis - 11 July
Fresh Almonty information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
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