Why Is ALMONTY INDS INC (ALM) Stock Down Today?

Why ALM stock is down today

Almonty Industries Inc stock fell 8.96% to $12.40 in afternoon trading on Monday. The decline came despite two buy initiations and a neutral rating from Goldman Sachs in the past 36 hours. The move appears to reflect broader market volatility and investor caution around the company’s near-term production outlook.

What Happened

Goldman Sachs initiated coverage of Almonty with a Neutral rating, citing expectations that tungsten prices will normalize and that the ramp-up at the Sangdong mine in South Korea will be more gradual than the market anticipates. Stifel, meanwhile, initiated the stock with a Buy rating. Despite these mixed signals, the stock fell sharply. In the broader market, the Nasdaq 100 tumbled as oil prices spiked and yields hit a 19-year high. Almonty also announced a take-or-pay supply agreement with Sandvik’s Wolfram Bergbau und Hütten, including a conditional $3 million upfront payment for offtake rights, and received mining site inspection certificates for its Sangdong mine processing plant. The Government of Rwanda will also receive a 25% interest in Almonty Rwanda in exchange for exploration and processing rights at the Shyorongi tungsten project.

What The Data Shows

The stock has declined 9.8% over the last eight sessions, falling from $14.04 to $12.67. It closed at $12.40, near the lower end of its 52-week range of $5.25 to $24.41. On September 24, the stock printed 18 fresh 52-week lows, compared to two fresh 52-week highs. Trading volume and unusual options activity were not reported as material. Retail chatter on social media platforms has been minimal, with only one post in the last seven days.

What To Watch

Investors should monitor the company’s ability to meet production targets at Sangdong and the impact of the new supply agreement. Coverage breadth and any follow-up analyst commentary may also influence near-term sentiment.