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United States Antimony (UAMY)
:UAMY
US Market

United States Antimony (UAMY) AI Stock Analysis

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UAMY

United States Antimony

(UAMY)

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Neutral 60 (OpenAI - 5.2)
Rating:60Neutral
Price Target:
$10.00
▲(3.09% Upside)
The score is held back primarily by weak profitability and negative operating/free cash flow, despite low leverage. Offsetting that, technicals show a strong uptrend and the latest earnings call and subsequent events point to meaningful 2026 growth potential supported by a strong cash position and large multi-year supply agreements.
Positive Factors
Long-term supply contracts
Multi-year government and commercial contracts materially increase revenue visibility and reduce customer and demand volatility. They underpin capacity investments, support higher utilization of processing assets, and help the company build durable scale and bargaining power in North American antimony supply chains.
Improved liquidity and fundraising
Substantially stronger liquidity and successful equity raises provide runway for capex, working capital and contract execution without heavy debt. This reduces refinancing risk, enables opportunistic asset purchases, and supports multi‑year production increases tied to contracted demand.
Vertical integration via mill acquisition
Owning a nearby flotation mill strengthens vertical integration and processing control, lowering reliance on third-party tolling. This enhances quality control, reduces per‑ton processing costs, and increases ability to capture incremental margin as mined ore is converted into saleable antimony products.
Negative Factors
Negative profitability
Despite revenue gains, ongoing operating losses and negative returns indicate the business has not yet converted top-line growth into sustainable profits. Continued losses erode equity, force reliance on external funding, and risk diluting returns if cost structure and margins are not improved over coming quarters.
Margin exposure to commodity prices & inventory build
Large inventory accumulation and sensitivity to antimony prices create working capital and margin volatility. If prices fall, inventory may be marked down, compressing margins and cash flow, and tying up capital that would otherwise fund expansion or contract fulfillment over the medium term.
Execution and permitting risks for scale-up
Aggressive production targets depend on timely permitting, construction and integration across mines and mills. Delays or cost overruns (permitted Alaska delay noted) could postpone revenue recognition, raise unit costs, and strain managerial focus during a critical scaling phase, undermining expected benefits.

United States Antimony (UAMY) vs. SPDR S&P 500 ETF (SPY)

United States Antimony Business Overview & Revenue Model

Company DescriptionUnited 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 a synergistic flame retardant system for plastics, rubber, fiberglass, textile goods, paints, coatings, and paper. Its antimony oxide is also used as a color fastener in paints; as a catalyst for the production of polyester resins for fibers and films; as a catalyst for the production of polyethelene pthalate in plastic bottles; as a phosphorescent agent in fluorescent light bulbs; and as an opacifier for porcelains. In addition, this division offers sodium antimonite; and antimony metal for use in bearings, storage batteries, and ordnance; and precious metals. The company's Zeolite division provides zeolite deposits for soil amendment and fertilizer, water filtration, sewage treatment, nuclear waste and other environmental cleanup, odor control, gas separation, and animal nutrition applications. Its zeolite products also have applications in catalysts, petroleum refining, concrete, solar energy and heat exchange, desiccants, pellet binding, horse and kitty litter, and floor cleaners, as well as carriers for insecticides, pesticides, and herbicides. United States Antimony Corporation was founded in 1968 and is based in Thompson Falls, Montana.
How the Company Makes MoneyUAMY generates revenue primarily through the sale of antimony and its derivatives, which are essential for various industrial applications. The company operates a production facility that processes antimony ore into high-purity antimony products, which are then sold to manufacturers in diverse industries. Key revenue streams include the sale of antimony metal, antimony trioxide, and other related products. Additionally, UAMY benefits from strategic partnerships with other mining and industrial companies, which help to secure distribution channels and expand its market reach. The demand for antimony, driven by its applications in flame retardants and electronics, contributes significantly to the company's earnings, alongside potential revenue from its exploration of zeolite and other mineral resources.

United States Antimony Earnings Call Summary

Earnings Call Date:Nov 12, 2025
(Q3-2025)
|
% Change Since: |
Next Earnings Date:Apr 06, 2026
Earnings Call Sentiment Positive
The earnings call presented a mixed but generally positive outlook. While there are some financial challenges, such as a net loss and gross margin pressure, the overall growth in sales, strong cash position, and strategic agreements highlight a positive trajectory for the company. The significant stock performance and expansion into new mining operations further indicate a strong growth potential.
Q3-2025 Updates
Positive Updates
Record Sales Growth
Sales for the first nine months of 2025 were $26.2 million, up 182% over the prior year.
Strong Cash Position
Ended the third quarter with cash and best investments of $38.5 million, an increase of $20 million this year.
Strategic Supply Agreements
Secured a three-year supply agreement with a new supplier of antimony ore and a five-year sole source sales contract with the DLA.
Successful Fundraising
Nearly $43 million of cash was generated from the exercise of preexisting warrants and stock sales.
Stock Performance
Share price climbed from $3.8 to $7.62 per share, with a market cap expanding from $200 million to more than $1 billion.
New Mining Operations
Started mining operations in Montana, acquiring mining claims in Alaska, Canada, and expanding processing facilities.
Negative Updates
Net Loss
Consolidated net loss was $4.1 million for the first nine months of 2025, although this included $5.2 million of non-cash expenses.
Gross Margin Pressure
Gross margin increased by four percentage points to 28%, but there will be pressure due to declining antimony market prices.
Delayed Permits in Alaska
Permit approval for operations in Alaska was delayed until mid-September, affecting planned operations.
Company Guidance
During the United States Antimony Corporation's third-quarter conference call, several key metrics and guidance for future operations were discussed. The company reported sales of $26.2 million for the first nine months of 2025, marking a 182% increase from the previous year, with October sales alone reaching $5.6 million. Gross margins rose by four percentage points to 28%, although there is anticipated pressure due to declining antimony prices. The company aims to counteract this with cost reductions and high-margin contracts. They reported a consolidated net loss of $4.1 million, which included $5.2 million in non-cash expenses. Inventory increased significantly, from $3 million to $9 million in value, reflecting an additional 300,000 pounds of antimony. The company also secured significant contracts, including a $245 million agreement with the Defense Logistics Agency and a $107 million commercial contract, positioning them for substantial revenue growth in 2026. The expansion of their Montana facility is 65% complete, and they plan to increase production to between 500 and 600 tons monthly. The company ended the quarter with $38.5 million in cash and investments, an increase of $20 million year-to-date, and maintained minimal long-term debt of $229,000.

United States Antimony Financial Statement Overview

Summary
Strong top-line growth (23.42% TTM revenue growth) and low leverage (debt-to-equity 0.0225) are positives, but negative EBIT and net profit margins plus negative operating and free cash flow indicate ongoing profitability and liquidity challenges.
Income Statement
45
Neutral
United States Antimony shows a mixed performance in its income statement. The company has achieved a significant revenue growth rate of 23.42% in the TTM period, indicating strong top-line expansion. However, profitability metrics are concerning, with negative net profit and EBIT margins, suggesting ongoing operational challenges. The gross profit margin is relatively stable at 25.90%, but the negative EBIT and net profit margins highlight the need for cost management improvements.
Balance Sheet
60
Neutral
The balance sheet of United States Antimony reflects a stable financial position with a low debt-to-equity ratio of 0.0225, indicating minimal leverage. However, the return on equity is negative, at -2.85%, suggesting inefficiencies in generating returns for shareholders. The equity ratio is strong, showing that a significant portion of the company's assets is financed by equity, which enhances financial stability.
Cash Flow
40
Negative
Cash flow analysis reveals significant challenges, with negative operating cash flow and free cash flow in the TTM period. Despite a high free cash flow to net income ratio, the overall cash flow position is weak, indicating liquidity concerns. The substantial free cash flow growth rate of 152.55% is positive but comes from a low base, highlighting volatility in cash generation.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue33.10M14.94M8.69M11.04M7.75M5.24M
Gross Profit8.53M3.47M-3.34M2.00M838.61K205.70K
EBITDA-4.07M-1.29M-5.89M1.26M825.95K-2.38M
Net Income-4.94M-1.73M-6.35M428.66K-60.47K-3.29M
Balance Sheet
Total Assets79.88M34.64M28.09M34.70M35.00M13.30M
Cash, Cash Equivalents and Short-Term Investments19.61M18.17M11.97M19.32M21.62M919.31K
Total Debt265.21K1.71M28.44K312.00K215.15K629.83K
Total Liabilities8.13M6.04M2.57M2.83M2.63M6.11M
Stockholders Equity71.75M28.60M25.52M31.87M32.37M7.19M
Cash Flow
Free Cash Flow-21.32M1.79M-6.28M-1.98M-3.08M-1.55M
Operating Cash Flow-5.04M2.22M-4.75M-249.28K-2.43M-1.31M
Investing Cash Flow-36.18M-42.07K-1.34M-1.79M-653.13K-243.09K
Financing Cash Flow46.62M4.14M-1.07M-267.73K23.78M2.10M

United States Antimony Technical Analysis

Technical Analysis Sentiment
Positive
Last Price9.70
Price Trends
50DMA
6.78
Positive
100DMA
7.57
Positive
200DMA
5.40
Positive
Market Momentum
MACD
0.97
Negative
RSI
60.74
Neutral
STOCH
48.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UAMY, the sentiment is Positive. The current price of 9.7 is above the 20-day moving average (MA) of 8.16, above the 50-day MA of 6.78, and above the 200-day MA of 5.40, indicating a bullish trend. The MACD of 0.97 indicates Negative momentum. The RSI at 60.74 is Neutral, neither overbought nor oversold. The STOCH value of 48.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for UAMY.

United States Antimony Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
61
Neutral
$1.86B-115.27-1.64%1.14%7.92%91.83%
60
Neutral
$1.39B-236.59-10.59%240.12%0.98%
55
Neutral
$914.47M-16.00%1.17%-16.89%-403.77%
53
Neutral
$617.36M-8.99-58.41%821.40%44.70%
51
Neutral
$908.76M-8.60-71.07%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
UAMY
United States Antimony
9.70
7.90
438.89%
GSM
Ferroglobe
4.89
1.08
28.35%
NEXA
Nexa Resources SA
14.12
8.26
140.96%
NB
NioCorp Developments
7.30
5.05
224.44%
ABAT
American Battery Technology
4.58
3.20
231.88%
CRML
Critical Metals Corp
17.06
9.31
120.13%

United States Antimony Corporate Events

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 minerals, expanding the plant’s size and output fifteenfold and securing an exclusive contract to receive its antimony flake. The first shipment of roughly 150 tons is expected to reach USAC’s newly expanded Thompson Falls, Montana smelter in February–March 2026, which management says should significantly boost throughput and enable production that meets military specifications, reinforcing the company’s position as the only fully integrated antimony producer outside China and Russia; USAC has also filed a $44 million funding request with the U.S. Department of Energy and is preparing a separate application to the Department of War to support additional state-of-the-art hydromet facilities in North America based on the Bolivian-developed hydromet process, underscoring its push to lead in critical mineral processing for industrial and U.S. government customers.

The most recent analyst rating on (UAMY) stock is a Buy with a $11.00 price target. To see the full list of analyst forecasts on United States Antimony stock, see the UAMY Stock Forecast page.

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 million budgeted for equipment upgrades, positioning the asset within 250 miles of its expanding Thompson Falls smelter. The Radersburg Mill, equipped with gravity and flotation circuits capable of concentrating antimony-bearing stibnite as well as gold, silver, copper, and other metals, is intended to process raw ore from Alaska and Montana and replace a previously cancelled lease of a similar Montana facility, strengthening USAC’s integrated supply chain, enhancing its ability to meet industrial and government demand for antimony products, and providing additional milling opportunities to support profitability and operational control.

The most recent analyst rating on (UAMY) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on United States Antimony stock, see the UAMY Stock Forecast page.

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 million and record revenues and cash flow through the first three quarters. Full‑year revenues climbed from $14.9 million in 2024 to roughly $39 million in 2025, driven mainly by higher pricing on antimony and zeolite, while the company expanded its asset base with new antimony and tungsten leases, issued a long‑life zeolite reserve report, restarted its Madero smelter, and advanced expansion of its Thompson Falls smelter. US Antimony also secured two major five‑year contracts worth more than $350 million in aggregate—one with the U.S. Defense Logistics Agency to replenish the National Defense Stockpile and another with an industrial customer for fire‑retardant materials—completed $69.2 million of equity offerings, dual‑listed its shares, and broadened its investor base to about 30% institutional ownership. Management emphasized that the company has become a fully integrated antimony producer outside China and Russia and highlighted that future growth in 2026 is expected to come primarily from higher production volumes supported by increased ore procurement and mining, signaling a strengthening competitive position in the North American critical minerals sector and a deeper alignment with U.S. defense and industrial supply chain needs.

The most recent analyst rating on (UAMY) stock is a Hold with a $6.50 price target. To see the full list of analyst forecasts on United States Antimony stock, see the UAMY Stock Forecast page.

Business Operations and StrategyExecutive/Board Changes
United States Antimony Appoints New Independent Director
Positive
Nov 25, 2025

On November 24, 2025, United States Antimony Corporation appointed Jon R. Marinelli as an Independent Director, expanding the board to seven members. Marinelli, a seasoned financial executive with over 25 years of experience, will also chair the newly formed Finance Committee. His extensive background in capital markets and strategic advisory roles is expected to contribute significantly to USAC’s growth and strategic initiatives, enhancing its position in the critical minerals supply chain.

The most recent analyst rating on (UAMY) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on United States Antimony stock, see the UAMY Stock Forecast page.

Business Operations and Strategy
United States Antimony Secures $106.7M Supply Agreement
Positive
Nov 12, 2025

On November 7, 2025, United States Antimony Corporation signed a five-year supply agreement valued at approximately $106.7 million with a U.S. industrial fabric manufacturer for antimony trioxide, a key component in flame retardant materials. This deal marks a strategic move to strengthen domestic supply chains and reduce reliance on international sources, reflecting a broader trend of reshoring critical mineral supplies. The agreement is expected to provide USAC with a stable, long-term customer, enhancing its operational stability and supporting U.S. manufacturing capabilities.

The most recent analyst rating on (UAMY) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on United States Antimony stock, see the UAMY Stock Forecast page.

Financial Disclosures
United States Antimony to Release Q3 2025 Results
Neutral
Nov 7, 2025

On November 7, 2025, United States Antimony Corporation announced the date for the release of its Third Quarter and Nine Months Ended September 30, 2025, Financial and Operating Results, scheduled for November 12, 2025. The announcement highlights USAC’s role as a key player in the critical minerals market, with implications for stakeholders regarding its financial performance and strategic positioning in the industry.

The most recent analyst rating on (UAMY) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on United States Antimony stock, see the UAMY Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
United States Antimony Updates Montana Mining Operations
Positive
Oct 30, 2025

On October 30, 2025, United States Antimony Corporation announced significant updates on its Montana mining activities and increased its 2026 financial guidance. The company has resumed mining operations at Stibnite Hill, Montana, using modern surface mining techniques, and has begun a mechanized exploration and bulk sampling program. The approval of operational changes by the Montana Department of Environmental Quality and the high-grade stibnite findings have led to an optimistic outlook, with anticipated profit margins three times higher than previous third-party purchases. USAC plans to expand its smelting operations in Thompson Falls and potentially in Madero, Mexico, to accommodate increased antimony supply. The company also raised its fiscal year 2026 revenue guidance by $25 million to $125 million, reflecting the expected impact of the new mining activities and international procurements.

The most recent analyst rating on (UAMY) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on United States Antimony stock, see the UAMY Stock Forecast page.

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.Date of analysis: Jan 30, 2026