United States Antimony (UAMY – Research Report), the Basic Materials sector company, was revisited by a Wall Street analyst today. Analyst Heiko Ihle from H.C. Wainwright reiterated a Buy rating on the stock and has a $4.50 price target.
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Heiko Ihle has given his Buy rating due to a combination of factors that highlight United States Antimony Corp.’s strategic moves and market conditions. The company’s recent acquisition of the Fostung Properties, a tungsten asset in Ontario, Canada, aligns with its focus on critical minerals prioritized by the U.S. Department of Defense. This acquisition is seen as a strategic step towards enhancing UAMY’s portfolio with North American-sourced tungsten, which is increasingly important given geopolitical tensions and supply chain issues.
Furthermore, the current market dynamics favor tungsten, with prices reaching their highest levels since 2013 due to China’s export restrictions. The U.S. military’s mandate to eliminate tungsten purchases from China and Russia by 2027 further underscores the importance of North American sources. These factors, combined with the company’s potential to develop the Fostung asset efficiently, contribute to Ihle’s positive outlook and Buy rating for UAMY.
According to TipRanks, Ihle is a 5-star analyst with an average return of 19.4% and a 57.40% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Integra Resources Corp, Endeavour Silver, and Largo Resources.
In another report released yesterday, Alliance Global Partners also reiterated a Buy rating on the stock with a $5.25 price target.