United States Antimony (UAMY)
NYSE:UAMY
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United States Antimony
(NYSE:UAMY)
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Rating:55Neutral
Price Target:
$9.00
▲(8.43% Upside)
Action:ReiteratedDate:04/01/26
The score is primarily constrained by weak profitability and heavy recent cash burn despite strong revenue growth and a low-debt balance sheet. Offsetting this, earnings-call guidance is constructive with sizable contracted demand and materially stronger liquidity, while technicals are currently soft and valuation support is limited due to losses and no dividend.
Positive Factors
Contracted Backlog
Multi-year, large-scale contracts provide durable revenue visibility and de-risk near-term demand. A $354M combined backlog supports planned production scale-up, helps prioritize capex and inventory allocation, and reduces reliance on spot antimony pricing for several years.
Negative Factors
Negative Cash Flow
Persistent and sizable cash burn in 2025 signals funding risk if operational cash generation does not improve. Continued negative FCF can force reliance on equity markets or asset sales, create dilution risk, and constrain the company's ability to sustain capital-intensive expansions without external support.
Read all positive and negative factors
Positive Factors
Negative Factors
Contracted Backlog
Multi-year, large-scale contracts provide durable revenue visibility and de-risk near-term demand. A $354M combined backlog supports planned production scale-up, helps prioritize capex and inventory allocation, and reduces reliance on spot antimony pricing for several years.
Read all positive factors
United States Antimony (UAMY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.19B
Dividend YieldN/A
Average Volume (3M)12.57M
Price to Earnings (P/E)―
Beta (1Y)1.74
Revenue Growth240.12%
EPS Growth0.98%
CountryUS
Employees60
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.00
Shares Outstanding143,371,930
10 Day Avg. Volume13,117,746
30 Day Avg. Volume12,571,698
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 Cap1.02
Enterprise Value/Revenue30.93
Enterprise Value/Gross Profit216.88
Enterprise Value/Ebitda-171.57
Forecast
1Y Price Target
$12.67Price Target Upside52.65% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.06
Revenue Forecast (FY)$124.47M
United States Antimony Business Overview & Revenue Model
Company Description
United States Antimony Corporation produces and sells antimony, silver, gold, and zeolite products in the United States and Canada. The company's Antimony division offers antimony oxide that is primarily used in conjunction with a halogen to form ...
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:Mar 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 20, 2026
Earnings Call Sentiment Positive
The call presents a predominantly positive strategic and financial momentum: substantial revenue and gross profit growth, a large cash and liquid securities build, major government and commercial contracts (~$354M), institutional adoption and an uplisting, meaningful resource discoveries (notably a $4.6B tungsten inferred value) and clear vertical integration plans (smelter expansion, hydromet JV). Offsetting risks include a larger net loss driven by noncash stock compensation, multi-month equipment and construction delays (notably at Thompson Falls), seasonal and permitting delays in Alaska, exploration setbacks on select targets, and continued supply-chain/geopolitical exposure. Management acknowledges short-term quarterly volatility in 2026 but maintains an aggressive growth and execution roadmap supported by improved liquidity, low debt and signed offtakes.Positive Updates
Strong Revenue and Gross Profit Growth
FY2025 sales of $39.3M, up 163% year-over-year; gross profit dollars increased by $6.4M (up 185% YoY); gross margin improved from 23% to 25% (↑2 percentage points).
Negative Updates
Net Loss Widened; Elevated Noncash Compensation
Net loss increased from $1.7M in 2024 to $4.3M in 2025; included $6.7M of noncash expenses (primarily stock compensation) in 2025 vs. $1.9M in 2024, materially affecting reported profitability.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Revenue and Gross Profit Growth
FY2025 sales of $39.3M, up 163% year-over-year; gross profit dollars increased by $6.4M (up 185% YoY); gross margin improved from 23% to 25% (↑2 percentage points).
Read all positive updates
Company Guidance
Guidance for fiscal 2026 calls for $125 million in revenue, driven largely by a sole‑source DLA contract (now $248 million of a total $354 million in two 5‑year contracts) from which the company expects to deliver roughly $75 million of antimony ingots in 2026; management reiterated the plan to remain minimally leveraged (debt ~$195k) and cash‑rich (cash, U.S. treasuries and equity securities of $91.3M vs $18.2M a year earlier, working capital $44.6M, up $27.9M). Operationally, Thompson Falls’ expansion (which will more than triple smelter capacity) is now expected to be completed in May (so no Q1 expansion contribution), a joint‑venture hydromet with Americas Gold & Silver is targeted to be online in about 12–18 months to process higher‑grade flake (commercial example: 150 t/month from Bolivia), Madero smelter capacity is ~200 t/month, and the company has built antimony inventory to 465 tons (up from 78 tons; 17% from company‑owned mine) to meet contracts. FY2025 metrics supporting the outlook include sales of $39.3M (up 163% YoY), gross profit up $6.4M (185%) with gross margin improving from 23% to 25%, a net loss of $4.3M (including $6.7M of noncash comp vs $1.9M prior), a recent $27M government award, and stronger capital‑markets traction (share price $1.78 → $5.02, market cap $201M → $703M, ~222 institutional holders, ~40% institutional ownership, ~15M shares/day traded); management cautioned 2026 will be “bumpy” quarter‑to‑quarter but reiterated confidence in the $125M full‑year target.United States Antimony Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
72
Positive
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 39.26M | 14.94M | 8.69M | 11.04M | 7.75M |
| Gross Profit | -1.71M | 3.47M | -3.34M | 2.00M | 838.61K |
| EBITDA | -7.63M | -1.29M | -5.89M | 1.26M | 825.95K |
| Net Income | -4.34M | -1.73M | -6.35M | 428.66K | -60.47K |
Balance Sheet | |||||
| Total Assets | 153.93M | 34.64M | 28.09M | 34.70M | 35.00M |
| Cash, Cash Equivalents and Short-Term Investments | 30.49M | 18.17M | 11.97M | 19.32M | 21.62M |
| Total Debt | 185.05K | 1.71M | 28.44K | 312.00K | 215.15K |
| Total Liabilities | 12.97M | 6.04M | 2.57M | 2.83M | 2.63M |
| Stockholders Equity | 140.96M | 28.60M | 25.52M | 31.87M | 32.37M |
Cash Flow | |||||
| Free Cash Flow | -37.50M | 1.79M | -6.28M | -1.98M | -3.08M |
| Operating Cash Flow | -9.69M | 2.22M | -4.75M | -249.28K | -2.43M |
| Investing Cash Flow | -87.40M | -42.07K | -1.34M | -1.79M | -653.13K |
| Financing Cash Flow | 109.48M | 4.14M | -1.07M | -267.73K | 23.78M |
United States Antimony Technical Analysis
Negative
8.30
Price Trends
8.93
Negative
7.72
Positive
6.68
Positive
Market Momentum
-0.12
Positive
45.96
Neutral
21.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UAMY, the sentiment is Negative. The current price of 8.3 is below the 20-day moving average (MA) of 9.38, below the 50-day MA of 8.93, and above the 200-day MA of 6.68, indicating a neutral trend. The MACD of -0.12 indicates Positive momentum. The RSI at 45.96 is Neutral, neither overbought nor oversold. The STOCH value of 21.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for UAMY.
United States Antimony Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | $1.46B | 8.84 | 14.19% | 1.14% | 7.92% | 91.83% | |
55 Neutral | $1.19B | -143.02 | -6.14% | ― | 240.12% | 0.98% | |
50 Neutral | $742.77M | -5.12 | -22.22% | 1.17% | -16.89% | -403.77% | |
49 Neutral | $358.25M | -11.63 | -46.98% | ― | 821.40% | 44.70% | |
47 Neutral | $659.76M | -248.46 | -44.72% | ― | ― | ― |
* Basic Materials Sector Average
UAMY
United States Antimony
8.30
5.97
256.22%
GSM
Ferroglobe
3.98
0.59
17.33%
NEXA
Nexa Resources SA
10.99
4.92
80.99%
NB
NioCorp Developments
4.54
2.45
117.22%
ABAT
American Battery Technology
2.72
1.71
169.31%
CRML
Critical Metals Corp
8.31
6.74
429.30%
United States Antimony Corporate Events
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...
Business Operations and StrategyDelistings and Listing Changes
United States Antimony Announces NYSE Uplisting Approval
Positive
Mar 6, 2026
On March 6, 2026, United States Antimony Corporation announced that the New York Stock Exchange had approved the uplisting of its common stock from NYSE American to the NYSE, where it will continue to trade under the ticker UAMY. Trading on the NY...
Business Operations and StrategyRegulatory Filings and Compliance
United States Antimony Highlights North American Supply Strategy
Positive
Feb 27, 2026
United States Antimony has furnished new investor presentation materials outlining its strategy to expand a secure North American antimony supply chain and highlight its unique position as the only fully integrated producer in the region. The mate...
Business Operations and Strategy
United States Antimony Forms Idaho Hydrometallurgical Joint Venture
Positive
Feb 10, 2026
On February 10, 2026, United States Antimony Corporation announced a joint venture with Americas Gold and Silver Corporation to build and operate a state-of-the-art hydrometallurgical processing facility in Idaho, adjacent to Americas’ activ...
Business Operations and StrategyPrivate Placements and Financing
United States Antimony advances Bolivian hydrometallurgical expansion
Positive
Jan 29, 2026
On January 28, 2026, United States Antimony Corporation announced that since mid-2025 it has been funding and assisting the development of a commercial-scale hydrometallurgical processing facility in Bolivia to refine antimony and other critical m...
Business Operations and StrategyM&A Transactions
United States Antimony acquires Montana critical minerals mill
Positive
Jan 20, 2026
On January 20, 2026, United States Antimony Corporation announced that it had closed, on January 16, 2026, the $4.75 million cash acquisition of a fully operational critical minerals flotation facility in Radersburg, Montana, with a further $2 mil...
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresPrivate Placements and Financing
United States Antimony Highlights Strong 2025 Growth and Contracts
Positive
Jan 5, 2026
In a January 5, 2026 letter reviewing performance in calendar year 2025, United States Antimony reported a 182% rise in its share price and a 250% increase in market capitalization, alongside a surge in liquidity from $18.2 million to about $90 mi...
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.