United States Antimony Corp. (UAMY)
NYSE:UAMY
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United States Antimony
(NYSE:UAMY)
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Rating:50Neutral
Price Target:
$7.50
▼(-29.04% Downside)
Action:Reiterated
Date:06/17/26
The score is held down primarily by weak financial performance (steep TTM revenue decline, large losses, and heavy cash burn) and bearish technicals (below key moving averages with negative MACD). Offsetting these are a strong low-debt balance sheet and a more constructive earnings-call backdrop (raised/reiterated 2026 revenue guidance and funding/capacity expansion progress), with modestly positive but potentially dilutive corporate actions.
Positive Factors
Low leverage / strong balance sheet
Extremely low leverage materially reduces solvency and refinancing risk, giving management sustained optionality to fund expansions, absorb commodity cycles, and pursue projects without immediate debt pressure. This balance-sheet conservatism supports multi-quarter resilience.
Negative Factors
Severe cash burn & negative FCF
Sustained negative operating and free cash flows indicate the business is not self-funding core operations or expansions. Persistent cash burn increases dependency on dilutive equity or milestone-based grants, raising long-term financing risk if revenue ramps slip or funding dries up.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Extremely low leverage materially reduces solvency and refinancing risk, giving management sustained optionality to fund expansions, absorb commodity cycles, and pursue projects without immediate debt pressure. This balance-sheet conservatism supports multi-quarter resilience.
Read all positive factors
United States Antimony (UAMY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.05B
Dividend YieldN/A
Average Volume (3M)10.99M
Price to Earnings (P/E)―
Beta (1Y)1.89
Revenue Growth104.34%
EPS Growth-1352.44%
CountryUS
Employees60
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.12
Shares Outstanding148,185,620
10 Day Avg. Volume8,855,105
30 Day Avg. Volume10,993,790
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 Cap1.08
Enterprise Value/Revenue29.00
Enterprise Value/Gross Profit414.45
Enterprise Value/Ebitda-61.44
Forecast
1Y Price Target
$12.75Price Target Upside20.62% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.06
Revenue Forecast (FY)$121.32M
United States Antimony Business Overview & Revenue Model
Company Description
United States Antimony Corporation (UAMY) specializes in the extraction and distribution of antimony, silver, gold, and zeolite products, serving markets across the United States and Canada. Its Antimony division primarily offers antimony oxide, a...
How the Company Makes Money
UAMY primarily makes money by selling specialty materials—most notably antimony products and zeolite—into industrial supply chains. (1) Antimony products revenue: The company generates revenue from the sale of antimony metal and antimony oxide. Th...
United States Antimony Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 07, 2026
Earnings Call Sentiment Positive
The call emphasized strong strategic progress: meaningful government support and contracts, successful capital raises, operational expansions (Thompson Falls, Radersburg), robust zeolite shipment momentum, large resource reports (tungsten and high‑grade antimony assets), and an institutional market re‑rating. These positives were balanced by near‑term execution challenges (supply chain delays, regulatory testing), higher operating costs that reduced gross profit in Q1, a sizable Q1 net loss driven by noncash expenses and a mark‑to‑market investment hit, and some volatility/concerns around the Larvotto holding. Management framed the issues as temporary and tied to deliberate front‑loaded investments to scale production, and expressed confidence in meeting a reiterated $125 million 2026 revenue target with significant federal demand backing. Overall the highlights (funding, capacity growth, resource value, accelerating sales momentum) outweigh the lowlights (short‑term losses, delays and cost pressures), leading to a constructive but execution‑focused outlook.Positive Updates
Stable Top-Line with Clear Growth Traction
Consolidated sales for Q1 2026 were $6.8 million (versus $7.0 million prior year), roughly flat year-over-year. Zeolite shipments showed strong momentum with March 2026 volumes ~60% higher vs March 2025; March shipments exceeded monthly target by ~42% and April shipments ran ~66% above target, indicating accelerating demand and improving utilization heading into Q2.
Negative Updates
Q1 Gross Profit and Net Loss Pressure
Gross profit for Q1 2026 decreased by $1.3 million vs prior year due primarily to higher labor, factory, import and freight costs. The company reported a net loss of $11.3 million for the quarter driven largely by $4.8 million of noncash stock compensation and a $4.1 million unrealized mark-to-market loss on Larvotto equity securities.
Read all updates
Q1-2026 Updates
Positive
Negative
Stable Top-Line with Clear Growth Traction
Consolidated sales for Q1 2026 were $6.8 million (versus $7.0 million prior year), roughly flat year-over-year. Zeolite shipments showed strong momentum with March 2026 volumes ~60% higher vs March 2025; March shipments exceeded monthly target by ~42% and April shipments ran ~66% above target, indicating accelerating demand and improving utilization heading into Q2.
Read all positive updates
Company Guidance
Management reiterated 2026 guidance of $125 million in revenue (up from prior $100M target), estimating $75–$95M of that will be federal antimony ingot shipments by year‑end; Q1 sales were $6.8M (vs $7.0M YoY), gross profit fell $1.3M, and net loss was $11.3M driven by $4.8M stock‑comp and a $4.1M unrealized Larvotto loss, while cash/marketables were $60.2M at March 31 with subsequent receipts of $12.8M (DoD grant) and $48.6M of equity proceeds (total reported in commentary ≈$118.9–$121.6M), inventory rose $9.5M to $22M, and debt remained minimal at $162K; operations guidance included Thompson Falls capacity of ~230 t/month (9 furnaces) with staged commissioning (3 furnaces at ~50% now, target ≈80% by mid‑July, old 75 t/month plant to be retrofitted with a 4–8 week shutdown), Madero feed ~225 t/month, Radersburg mill (acquired for $4.3M) and lab online (grand opening July 7), hydromet JV planning a 120,000 sq ft facility targeting 1,000 t/month of 99.9% Sb by 2028, Fostung tungsten inferred resource 14.62M mt @0.17% WO3 (53.595M lbs WO3) with an in‑ground gross value of ~$9.3B at $3,300/mtu, planned bulk samples of 20–50k tons, Q1 zeolite momentum with March shipments ~60% above March 2025 and March/April shipments ~42% and ~66% above monthly targets respectively, $27M DoD grant of which $12.8M received, additional federal grant applications totaling ~$274M (DOE $44M, DIBC $5M, tungsten $105M, hydromet concentrator $119M), $48.6M raised at an average $11.57/share, and market metrics showing shares up from $5.93 to $8.30 in Q1, market cap from ~$830M to ~$1.19B, average daily volume ≈12M+ and institutional ownership approaching 50%.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 | 39.04M | 39.26M | 14.94M | 8.69M | 11.04M | 7.75M |
| Gross Profit | 2.73M | -1.71M | 3.47M | -3.34M | 2.00M | 838.61K |
| EBITDA | -18.43M | -3.10M | -1.29M | -5.89M | 1.37M | 825.95K |
| Net Income | -16.18M | -4.34M | -1.73M | -6.35M | 428.66K | -60.47K |
Balance Sheet | ||||||
| Total Assets | 148.05M | 153.93M | 34.64M | 28.09M | 34.70M | 35.00M |
| Cash, Cash Equivalents and Short-Term Investments | 3.22M | 30.49M | 18.17M | 11.97M | 19.32M | 21.62M |
| Total Debt | 176.36K | 185.05K | 1.71M | 28.44K | 312.00K | 215.15K |
| Total Liabilities | 16.15M | 12.97M | 6.04M | 2.57M | 2.83M | 2.63M |
| Stockholders Equity | 131.89M | 140.96M | 28.60M | 25.52M | 31.87M | 32.37M |
Cash Flow | ||||||
| Free Cash Flow | -59.55M | -37.50M | 1.79M | -6.28M | -1.98M | -3.08M |
| Operating Cash Flow | -20.02M | -9.69M | 2.22M | -4.75M | -249.28K | -2.43M |
| Investing Cash Flow | -99.12M | -87.40M | -42.07K | -1.34M | -1.79M | -653.13K |
| Financing Cash Flow | 103.68M | 109.48M | 4.14M | -1.07M | -267.73K | 23.78M |
United States Antimony Technical Analysis
Neutral
10.57
Price Trends
9.40
Negative
9.12
Negative
8.26
Negative
Market Momentum
-0.63
Positive
44.28
Neutral
30.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UAMY, the sentiment is Neutral. The current price of 10.57 is above the 20-day moving average (MA) of 8.23, above the 50-day MA of 9.40, and above the 200-day MA of 8.26, indicating a bearish trend. The MACD of -0.63 indicates Positive momentum. The RSI at 44.28 is Neutral, neither overbought nor oversold. The STOCH value of 30.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for UAMY.
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 |
|---|---|---|---|---|---|---|---|
69 Neutral | $1.97B | 9.04 | 20.95% | 1.14% | 16.41% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | $422.88M | -6.43 | -63.85% | ― | 776.51% | 38.07% | |
50 Neutral | $1.05B | -67.04 | -16.94% | ― | 104.34% | -1352.44% | |
48 Neutral | $717.54M | -6.50 | -15.03% | 1.17% | -11.77% | -85.76% | |
46 Neutral | $755.60M | -13.85 | -21.43% | ― | ― | -265.11% |
* Basic Materials Sector Average
UAMY
United States Antimony
7.66
4.93
180.59%
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3.84
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0.52%
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NB
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5.19
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99.62%
ABAT
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CRML
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10.07
7.58
304.42%
United States Antimony Corporate Events
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...
Executive/Board Changes
United States Antimony Names Interim Chief Financial Officer
Neutral
May 6, 2026
On May 4, 2026, United States Antimony announced that Senior Vice President and Chief Financial Officer Richard Isaak had begun a temporary personal leave of absence unrelated to the company’s financial performance, accounting practices, int...
Business Operations and StrategyFinancial Disclosures
United States Antimony Sets Date for Q1 2026 Results
Neutral
May 6, 2026
On May 5, 2026, United States Antimony Corporation announced it will release its financial and operating results for the quarter ended March 31, 2026, after U.S. markets close on Thursday, May 14, 2026. The company, which positions itself as the o...
Business Operations and StrategyRegulatory Filings and Compliance
United States Antimony Advances Fostung Tungsten Project Reporting
Positive
Apr 10, 2026
On April 10, 2026, United States Antimony Corporation released an operational update on its Fostung Project in Ontario, disclosing that a Technical Report Summary effective January 31, 2026, had been completed by SRK Consulting (Canada), Inc. in l...
Business Operations and StrategyFinancial Disclosures
United States Antimony Sets Date for FY 2025 Results
Neutral
Mar 17, 2026
On March 16, 2026, United States Antimony Corporation announced it would release fiscal year 2025 financial and operating results after U.S. markets close on Thursday, March 19, 2026. The company said senior management would host a conference call...
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.