Almonty’s Expanded Tungsten Contract Can’t Stem 41% Slide Despite Analyst Price Hikes
Published on 07/16/2026 at 10:16 | Redaktion boerse-global.de
Almonty Industries locked in a significantly larger offtake agreement with Global Tungsten & Powders just as its Sangdong mine started producing — yet the stock continued its sharp descent, losing more than a quarter of its value in the past month. The disconnect between operational milestones and market price has become the defining feature of the tungsten miner’s recent trading.
The Vancouver-based company amended its supply contract with GTP, a member of Austria’s Plansee Group, on July 14, extending the term from 15 to 21 years starting from first delivery. Total committed volumes jumped 40 percent to 4.41 million metric tonne units of tungsten concentrate, previously 3.15 million MTU. Improved pricing terms will lift annual contract revenue by at least $30 million, putting the total expected yearly revenue around $490 million at current prices. The deal covers roughly 90 percent of Phase I output from the Sangdong mine in South Korea.
Wall Street responded with immediate target upgrades. D.A. Davidson reaffirmed its buy rating on July 15 and raised its price target to $33 from $25. Oppenheimer followed suit, lifting its target to $25 from $22 while keeping an outperform rating, citing the elevated tungsten price environment. The consensus among analysts remains a strong buy, with no sell recommendations, though the wide range of price targets reflects the difficulty of valuing a developer transitioning to producer.
That production transition is now underway. Almonty’s Sangdong processing plant began operations on July 1, turning stockpiled ore into tungsten concentrate for the first time, generating active revenue. The milestone came just days after the company was added to the Russell 1000 and Russell 3000 indices on June 29, signaling growing mainstream investor recognition.
Should investors sell immediately? Or is it worth buying Almonty?
None of that has stopped the stock’s slide. Shares closed at C$19.46, representing a 41.65 percent decline from the 52-week high of C$33.35 reached in mid-April. Over the past 30 trading days alone, the equity lost roughly a quarter of its value. Monday saw an especially brutal session: the stock crashed 9.60 percent from $16.61 to $15.02, with an intraday range between $14.68 and $16.26. Technical indicators suggest oversold conditions — the 14-day relative strength index sits at 37.2 — while the annualized 30-day volatility stands at a staggering 103.49 percent.
Despite the recent weakness, longer-term returns remain strong. Almonty is up 61.76 percent year to date and has gained 191.75 percent over the past twelve months. The current price sits 22.08 percent below its 50-day moving average of $24.98, confirming the short-term bearish momentum.
Valuation metrics still raise eyebrows. With revenue of approximately $32.51 million and a gross margin of 29.3 percent, the stock trades at a price-to-sales ratio of roughly 165 and a price-to-book ratio near 23.3. Profitability remains deeply negative, and some valuation models flag the shares as overpriced relative to fair value, attracting criticism from value-oriented strategists.
Almonty at a turning point? This analysis reveals what investors need to know now.
For the bull case to regain traction, the next quarterly report will be pivotal. The expanded offtake contract and the ramp-up at Sangdong provide the operational foundation, but the market wants to see whether the concentrate can translate into sustainable cash flow — and whether the stock can finally close the gap with analyst price targets.
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Almonty Stock: New Analysis - 16 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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