United States Antimony Corporation (UAMY) Stock Price & How to Invest
Last updated July 2026
Short answer
United States Antimony Corporation (UAMY) is the only fully integrated antimony miner, smelter and refiner operating outside China and Russia, with a Montana smelter, a Mexican smelter, an Idaho zeolite mine and a five-year U.S. Defense Logistics Agency supply contract. You can buy shares or fractional shares at any major broker, or hold it inside a critical-minerals basket, though at roughly 21 times trailing sales it is priced well ahead of what it currently earns.
UAMY stock price
As of 2026-08-25, United States Antimony Corporation (UAMY) last closed at $5.20, up 5.3% over the past year. Over the past 52 weeks it has traded between $4.31 and $17.47.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or United States Antimony Corporation's investor relations page. Walnut is informational, not investment advice.
What does United States Antimony Corporation (UAMY) do?
United States Antimony Corporation (NYSE: UAMY, also listed on NYSE Texas) has been processing antimony in Montana since 1970 and moved from NYSE American to the New York Stock Exchange in March 2026. It reports two segments. The antimony segment covers the Thompson Falls smelter in Sanders County, Montana, which turns ore into antimony oxide, metal ingots, trisulfide and a small stream of gold and silver, plus the Madero smelter in Mexico run through its USAMSA subsidiary. The zeolite segment is Bear River Zeolite in Preston, Idaho, which surface mines and sells zeolite for water filtration, soil amendment and animal feed. Around those two segments sits a widening set of early-stage assets: the restarted Stibnite Hill mine and the new Radersburg flotation mill in Montana, claims at Nolan Creek and in the Fairbanks District of Alaska, the Fostung tungsten project in Ontario, and a hydrometallurgical joint venture with Americas Gold and Silver in Idaho. The company employed ~100 full-time staff at the end of 2025.
The financial picture turned sharply in 2026. Revenue for the twelve months through June was ~$36.4M, up from ~$14.9M in 2024, but the second quarter brought ~$7.9M against ~$10.5M a year earlier because realized antimony prices fell ~52% to ~$13.70 per pound. Gross margin compressed to ~7% from ~27%, and operating expenses roughly tripled to ~$7.6M on stock compensation and a larger payroll, producing a ~$7.0M operating loss that a ~$6.8M paper gain on the company's Larvotto Resources stake happened to offset. The balance sheet is unusually strong for a company this size: ~$62.2M of cash and Treasuries, a ~$43.2M equity stake in Larvotto, ~$70.0M of working capital and almost no debt. The central question is arithmetic: a ~$778M market value on ~$36.4M of trailing revenue and a ~$16.3M trailing net loss assumes the tripled Thompson Falls capacity, the DLA contract and self-mined feedstock convert into much higher revenue at margins the last two quarters have not shown.
What's driving United States Antimony Corporation (UAMY)?
1. The tripled Montana smelter.
The Thompson Falls expansion cost ~$39M, was substantially completed during the second quarter of 2026, and is expected to more than triple the facility's antimony processing capacity. Roughly ~$12.8M of the cost came back as a milestone payment under a Defense Production Act Title III award from the U.S. Department of War, an award of up to ~$27.0M of which ~$16.2M is currently obligated. Whether that capacity fills is the largest swing factor in the story.
2. Government demand as a floor.
The five-year Defense Logistics Agency contract for antimony metal ingots has begun shipping. The first two shipments of ~82,000 pounds were accepted in July 2026 and put ~$2.6M into third-quarter revenue, with a disclosed schedule of seven shipments totaling ~$9.17M. That is meaningful against a ~$36.4M revenue base and is priced independently of spot antimony. The company has also filed four further grant requests to the Departments of Energy and War totaling ~$275M that have not been awarded.
3. Owning the feedstock.
Gross margin during the first half of 2026 got no help from company-mined ore because everything sold was bought from third parties. Stibnite Hill restarted in April 2026 and has moved ~576 tons of ~10% antimony ore at roughly ~42 tons per day, more than double the 2025 pace, feeding the new Radersburg flotation mill. Ore the company mines itself carries a very different cost per pound than ore it buys, so this is where a ~7% gross margin either recovers or does not.
4. Zeolite as the quiet compounder.
Bear River Zeolite grew second-quarter revenue ~110% to ~$1.9M on ~6,609 tons sold, driven by cattle nutrition and wider industrial distribution. Reserves of ~5.1 million short tons against production near ~12,000 tons a year imply decades of runway. It is small next to antimony and its margins are thin, but it grows without depending on a volatile metal price, in a business where the three largest customers accounted for ~80% of 2025 sales.
What are the risks to United States Antimony Corporation (UAMY)?
The antimony price cycle dominates everything. European assessments peaked near ~$59,750 per tonne in July 2025 and had fallen to roughly ~$23,000 by mid-2026, which is why UAMY shares trade near ~$5.20 against a 52-week range of ~$4.14 to ~$19.71. Dilution has been heavy: shares outstanding went from ~108 million in mid-2024 to ~150.5 million at June 2026, including ~$49.1M of net equity issuance in the first half of 2026 at an average of ~$11.56 per share, well above the current quote. Share-based compensation of ~$7.7M in six months is large against ~$14.7M of revenue, and reported net income now swings on the mark-to-market value of the Larvotto stake rather than on operations. Customer concentration and Mexican operating exposure are also disclosed.
What is the United States Antimony Corporation (UAMY) forecast?
4 analysts publish price targets on UAMY, averaging $11.19 against a $5.20 price as of August 2026, or +115.2%. The published targets run from $9.00 to $13.50, a moderate spread, and the ratings split 4 buy, 0 hold, 0 sell. Over the last six months there have been 2 raises and 1 cut among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.
Read the full UAMY forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.
Is UAMY a buy or a sell?
We give no verdict on United States Antimony Corporation. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.
The case for buying. The tripled Montana smelter. The Thompson Falls expansion cost ~$39M, was substantially completed during the second quarter of 2026, and is expected to more than triple the facility's antimony processing capacity. The most optimistic published target, $13.50, assumes this works close to its best case.
The case against. The antimony price cycle dominates everything. The most pessimistic target, $9.00, is roughly what UAMY is worth if this bites instead.
Read the full bull and bear case on UAMY, including what would have to change to break either one. Walnut is not an investment adviser.
How is United States Antimony Corporation (UAMY) valued? (approximate, August 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see United States Antimony Corporation's investor relations page or your broker.
- Revenue (TTM): ~$36.4M
- Q2 2026 revenue: ~$7.9M, down from ~$10.5M
- Q2 2026 gross margin: ~7%, down from ~27%
- Net loss (TTM): ~$16.3M
- Cash, Treasuries and Larvotto stake: ~$105M, with almost no debt
- Market value / trailing sales: ~21x on a ~$778M market value
The valuation rests on capacity and contracts rather than current output. Full-year 2025 revenue of ~$39.3M was itself inflated by peak antimony pricing, and the first half of 2026 came in at ~$14.7M against ~$17.5M a year earlier. Management authorized a ~$100M share repurchase on 19 August 2026, saying the board considered the stock undervalued, four months after raising ~$49.1M of equity.
Who competes with United States Antimony Corporation (UAMY)?
Antimony miners and developers
China dominates global antimony supply and refining, with Russia and Tajikistan supplying most of the rest, so UAMY's competitive claim is about being outside that bloc rather than about scale. Western comparables include Perpetua Resources, developing the Stibnite gold and antimony project in Idaho, Larvotto Resources in Australia (in which UAMY holds roughly a ten percent stake), Nova Minerals in Alaska and Military Metals. Most are pre-revenue explorers, which is why UAMY's existing smelters and shipping DLA contract are what investors pay a premium for.
Domestic critical-minerals and defense-supply names
MP Materials, Energy Fuels, USA Rare Earth, NioCorp and Ramaco Resources compete with UAMY for the same government programs, the same Defense Production Act dollars and the same pool of investor capital chasing reshored supply chains. They trade on similar logic, which means UAMY's multiple tends to move with the group's sentiment about federal critical-minerals policy as much as with its own quarterly results.
Industrial minerals and zeolite
Bear River Zeolite sells into a fragmented natural-zeolite market against producers such as St. Cloud Mining, KMI Zeolite and Zeotech, plus synthetic zeolites and cheaper substitutes in soil amendment and animal feed. Competition here is regional and freight-driven, since hauling cost is a large share of delivered price. The segment is too small to move the valuation on its own, though it does provide revenue uncorrelated with the antimony price.
What stocks are similar to United States Antimony Corporation (UAMY)?
Other names that sit close to UAMY: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.
How to invest in United States Antimony Corporation (UAMY)
There are three common ways to get UAMY exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so UAMY sits alongside other stocks that express the same thesis.
Walnut takes the portfolio route. Describe a thesis where UAMY fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on United States Antimony Corporation (UAMY)
UAMY is a real producer with a fortress balance sheet and a policy tailwind, priced as though the tripled Montana smelter is already running full and antimony prices have stopped falling.
More on United States Antimony Corporation (UAMY)
Whether UAMY is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is UAMY a buy or a sell?, and where the stock could go from here in the UAMY stock forecast.
For income investors, whether UAMY pays a dividend and how the payout looks is covered in does UAMY pay a dividend? And to weigh UAMY against a peer, read the full side-by-side comparisons: UAMY vs NVMI and UAMY vs MTX.
Wondering how UAMY fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in United States Antimony Corporation with AI
Connect the broker you already use and ask Walnut's AI how UAMY fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What does United States Antimony Corporation actually do?
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It mines, buys and processes antimony ore into finished products including antimony oxide, metal ingots and trisulfide, at a smelter in Thompson Falls, Montana and a second smelter in Mexico. It also mines and sells zeolite from Bear River Zeolite in Preston, Idaho. The company describes itself as the only fully integrated antimony operation outside China and Russia. Antimony sits on the U.S. Critical Minerals List because of its use in flame retardants, ammunition primers and batteries.
Why has UAMY stock fallen so far from its highs?
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The share price tracks the antimony price, which spiked after China imposed export controls in late 2024 and then corrected hard. European assessments went from roughly ~$15,000 to ~$18,000 per tonne before the controls, to a peak near ~$59,750 in July 2025, back to about ~$23,000 by mid-2026. UAMY's own realized price fell ~52% year over year to ~$13.70 per pound in the second quarter of 2026, and the stock now trades near ~$5.20 against a 52-week high of ~$19.71.
Is UAMY profitable?
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Not from operations. The company reported a ~$7.0M operating loss in the second quarter of 2026 and a ~$14.5M operating loss for the first half. Second-quarter net income of ~$0.1M came almost entirely from a ~$6.8M unrealized gain on the company's shareholding in Larvotto Resources plus ~$0.4M of investment income. Over the trailing twelve months the net loss is ~$16.3M on ~$36.4M of revenue.
What is the DLA contract and how much is it worth?
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It is a five-year sole-source contract with the U.S. Defense Logistics Agency for antimony metal ingots, secured in 2025, with delivery beginning in June 2026. The company has disclosed a schedule of seven shipments totaling roughly ~$9.17M, of which ~82,000 pounds worth ~$2.6M was accepted in July 2026 and lands in third-quarter revenue. Revenue is recognized only on formal government acceptance, which is why the June shipments produced no second-quarter sales.
How much cash does the company have?
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At 30 June 2026 UAMY held ~$41.4M of cash plus ~$20.7M of U.S. Treasuries held to maturity, for ~$62.2M of liquidity, alongside a ~$43.2M market-value stake in Larvotto Resources. Working capital was ~$70.0M against ~$6.6M of current liabilities, and total stockholders' equity was ~$181.0M. There is no going-concern qualification in the filings. Most of that cash came from ~$49.1M of net equity issuance during the first half of 2026.
Does UAMY pay a dividend?
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No. The company pays no common dividend and has a small preferred dividend of about ~$1,875 per quarter. On 19 August 2026 the board authorized a repurchase program of up to ~$100M of common stock, with timing at the discretion of the finance committee and no fixed expiration. The company also acquired ~$7.8M of treasury stock during the first half of 2026.
What would have to go right for the current valuation to work?
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Three things at once. The tripled Thompson Falls capacity would need to run at high utilization, feedstock would need to shift from purchased ore toward the company's own Stibnite Hill and Alaska material so gross margin recovers from ~7%, and antimony prices would need to stabilize near current levels rather than continue drifting toward the pre-controls range. At ~21 times trailing sales with a trailing operating loss, the price already assumes most of that happens.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with United States Antimony Corporation's investor relations page or your broker before making investment decisions.