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United States Antimony
(NYSE:UAMY)
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Rating:49Neutral
Price Target:
$6.50
▲(25.73% Upside)
Action:Reiterated
Date:08/11/26
UAMY’s score is held down primarily by weak financial performance (steep TTM revenue decline, large losses, and heavy negative operating/free cash flow) despite very low leverage. Technicals are mixed with only modest near-term support and weaker longer-term trend signals. The earnings call provides a partial offset via strong liquidity and progress on the DLA contract, but guidance was reduced and commodity-price-driven margin pressure remains a central risk.
Positive Factors
Strong liquidity and conservative balance sheet
Material liquidity and minimal debt provide multi-month runway and optionality. This conservative capital structure reduces solvency risk, allows continued capex and inventory funding for contract fulfillment, and supports strategic flexibility amid commodity volatility.
Negative Factors
Severe antimony price compression
A sustained sharp drop in realized commodity prices structurally compresses gross margins and can overwhelm volume gains. Given exposure to global supply/demand and Chinese market influence, pricing risk materially undermines earnings power and cash generation for months to quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity and conservative balance sheet
Material liquidity and minimal debt provide multi-month runway and optionality. This conservative capital structure reduces solvency risk, allows continued capex and inventory funding for contract fulfillment, and supports strategic flexibility amid commodity volatility.
Read all positive factors
United States Antimony (UAMY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$799.23M
Dividend YieldN/A
Average Volume (3M)6.24M
Price to Earnings (P/E)―
Beta (1Y)2.19
Revenue Growth35.89%
EPS Growth-1309.41%
CountryUS
Employees101
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.12
Shares Outstanding149,669,390
10 Day Avg. Volume5,833,116
30 Day Avg. Volume6,239,774
Financial Highlights & Ratios
PEG Ratio-1.19
Price to Book (P/B)4.40
Price to Sales (P/S)15.81
P/FCF Ratio-16.55
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$9.25Price Target Upside78.92% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.02
Revenue Forecast (FY)$115.32M
United States Antimony Business Overview & Revenue Model
Company Description
United States Antimony Corporation produces and sells antimony, zeolite, and precious metals in the United States and Canada. It operates in two segments: Antimony and Zeolite. The company offers antimony trioxide that is primarily used in conjunc...
How the Company Makes Money
UAMY primarily makes money by selling antimony-based products to industrial customers. Its key revenue streams are (1) sales of antimony metal (typically used in alloys and other metallurgical applications) and (2) sales of antimony oxide and othe...
United States Antimony Earnings Call Summary
Earnings Call Date:Aug 11, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 18, 2026
Earnings Call Sentiment Positive
The call highlights clear operational progress: initial DLA shipments, meaningful liquidity ($62.2M total liquidity), rapid zeolite growth (+110% revenue YoY), expanded institutional ownership (>57%), and active mine development across multiple properties. However, financial results are meaningfully impacted by a sharp decline in realized antimony prices (average selling price down ~52% YoY), leading to significant margin compression, higher operating losses (driven in part by increased noncash share-based compensation), and timing delays in recognizing DLA revenue. The company’s strong balance sheet, ongoing deliveries under a $245M DLA contract, and operational milestones outweigh the near-term revenue and margin pressures driven by weak commodity prices and some timing/operational risks.Positive Updates
Strong Liquidity Position
Cash and cash equivalents of $41.4M at June 30, 2026 (up from $3.2M at March 31, 2026) plus $20.7M in U.S. Treasuries for total liquidity of $62.2M; total cash investments and marketable securities of $105M including a $43.2M strategic equity investment.
Negative Updates
Year-over-Year Revenue Decline Driven by Antimony Prices
Q2 2026 revenue was $7.9M, down ~25% YoY from $10.5M; six-month revenue $14.7M vs $17.5M prior year (down ~16%), primarily due to lower realized antimony prices.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Liquidity Position
Cash and cash equivalents of $41.4M at June 30, 2026 (up from $3.2M at March 31, 2026) plus $20.7M in U.S. Treasuries for total liquidity of $62.2M; total cash investments and marketable securities of $105M including a $43.2M strategic equity investment.
Read all positive updates
Company Guidance
Management lowered full‑year revenue guidance to $60–$75 million, attributing the cut to weaker antimony prices even as the company advances a $245 million sole‑source DLA contract (cumulative DLA orders ≈ $57.3M); USAC delivered the first two DLA shipments (~82,000 pounds) in June (~$2.6M), expects two more truckloads to add ~ $2.6M in Q3, and truckloads 5–7 (>120,000 pounds) to contribute ≈ $4M in Q4 (pending testing/acceptance), which management says should drive margin expansion in Q3–Q4. Recent operating and balance‑sheet metrics: Q2 revenue $7.9M (H1 $14.7M); Q2 antimony revenue $5.9M with pounds sold up ~26% YoY to ≈428k; average selling price down ~52% YoY to $13.70/ lb (average cost down ~33% to $13.34/ lb); zeolite revenue +110% to $1.9M (tons +114%); Q2 gross profit $0.6M (7% margin) and operating loss ≈$7M (including ~$3.4M noncash items); cash $41.4M, US Treasuries $20.7M (total liquidity $62.2M), inventory $21.6M, working capital $70M, total assets $191M, and total liabilities $9.6M.United States Antimony Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
74
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.44M | 39.26M | 14.94M | 8.69M | 11.04M | 7.75M |
| Gross Profit | 477.21K | -1.71M | 3.47M | -3.34M | 2.00M | 838.61K |
| EBITDA | -18.20M | -3.10M | -1.29M | -5.89M | 1.37M | 825.95K |
| Net Income | -16.25M | -4.34M | -1.73M | -6.35M | 428.66K | -60.47K |
Balance Sheet | ||||||
| Total Assets | 190.62M | 153.93M | 34.64M | 28.09M | 34.70M | 35.00M |
| Cash, Cash Equivalents and Short-Term Investments | 46.10M | 30.49M | 18.17M | 11.97M | 19.32M | 21.62M |
| Total Debt | 364.08K | 185.05K | 1.71M | 28.44K | 312.00K | 215.15K |
| Total Liabilities | 9.59M | 12.97M | 6.04M | 2.57M | 2.83M | 2.63M |
| Stockholders Equity | 181.02M | 140.96M | 28.60M | 25.52M | 31.87M | 32.37M |
Cash Flow | ||||||
| Free Cash Flow | -71.28M | -37.50M | 1.79M | -6.28M | -1.98M | -3.08M |
| Operating Cash Flow | -28.05M | -9.69M | 2.22M | -4.75M | -249.28K | -2.43M |
| Investing Cash Flow | -81.14M | -87.40M | -42.07K | -1.34M | -1.79M | -653.13K |
| Financing Cash Flow | 145.64M | 109.48M | 4.14M | -1.07M | -267.73K | 23.78M |
United States Antimony Risk Analysis
United States Antimony disclosed 57 risk factors in its most recent earnings report. United States Antimony reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
The Company's receipt of funds under its Department of War award is subject to significant conditions, and failure to satisfy these conditions or obtain continued authorization could adversely impact its operations and financial condition. Q1, 2026
United States Antimony Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $1.90B | 6.78 | 25.68% | 0.79% | 23.37% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | $818.45M | -20.36 | -5.64% | 1.73% | -8.54% | 61.49% | |
49 Neutral | $799.23M | -45.42 | -12.37% | ― | 35.89% | -1309.41% | |
49 Neutral | $342.40M | -4.67 | -63.85% | ― | 776.51% | 38.07% | |
45 Neutral | $745.41M | -7.12 | -21.43% | ― | ― | -265.11% |
* Basic Materials Sector Average
UAMY
United States Antimony
5.51
1.24
29.04%
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4.39
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5.78%
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NB
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5.11
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17.47%
ABAT
American Battery Technology
2.49
-0.28
-10.11%
CRML
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6.66
0.82
14.04%
United States Antimony Corporate Events
Business Operations and StrategyFinancial Disclosures
United States Antimony Sets Date for Q2 Results
Neutral
Aug 6, 2026
On August 6, 2026, United States Antimony Corporation announced plans to release its financial and operating results for the second quarter and six months ended June 30, 2026, after U.S. markets close on Tuesday, August 11, 2026. The company sched...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
United States Antimony Shareholders Approve Governance and Share Actions
Positive
Jun 16, 2026
At its June 12, 2026 annual shareholders meeting, United States Antimony Corporation reported that shareholders elected seven directors to one-year terms, with each nominee receiving sufficient support despite varying vote totals. The meeting outc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.