Almonty Shares Rise on $300 Million Share Repurchase Program
Dow Jones2026/08/17 15:05By Anvee Bhutani
Shares of Almonty Industries rose Monday morning after the company said its board approved a new share repurchase program of up to $300 million.
Shares of the tungsten producer were recently up 9% at $16.47.
The program allows Almonty to repurchase up to 14.4 million common shares, or about 5% of its outstanding shares, over a 36-month period beginning Aug. 24.
The company said the buyback is intended to capitalize on what it views as a disconnect between its share price and the value of its tungsten assets and growth prospects, including its Sangdong mine in South Korea.
Chief Executive Lewis Black said the company believes its shares are among its most-attractive investments at current prices, citing demand for non-Chinese sources of tungsten as Western governments and defense manufacturers seek to rebuild critical-mineral supply chains.
Almonty said purchases may be made on the open market or through other permitted methods, including automatic share purchase plans.
Write to Anvee Bhutani at anvee.bhutani@wsj.com
(END) Dow Jones Newswires
August 17, 2026 11:05 ET (15:05 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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