Tungsten miner Almonty climbs on $300 mln stock buyback
ALM•Recent milestones and share performance
Almonty listed in the U.S. in July 2025 after a $90 million IPO priced at $4.50.
In 2026, the company completed Phase 1 commissioning at its flagship Sangdong Mine in South Korea in March, and relocated its headquarters from Canada to Dillon, Montana, in April.
Through Friday's close, Almonty shares were up 71% year to date and about 38% below their intraday 1-year high of $24.41 hit on April 17.
Almonty shares rise after buyback announcement
Nasdaq-listed shares of tungsten producer Almonty Industries ALM.O rose 7.4% to $16.20 before the bell on Monday after the company announced a new $300 million share repurchase program.
Almonty said the 2026 program will permit the purchase of 14.4 million shares, or about 5% of outstanding shares, over a 36-month period commencing August 14.
The company said its board authorized the program because it does not believe the current share price reflects the underlying value of the company or the assets behind it.
