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what it is
It processes antimony chemicals and mines zeolite, then sells both into industrial and environmental markets.
how it gets paid
Last year U.S. Antimony made $15M in revenue. antimony oxide was the main engine at $6.0M, or 40% of sales.
growth snapshot
Prior full-year revenue was ~$15M. For the first nine months of 2025, revenue was ~$26.2M— up ~182% vs. the same nine months of 2024 (~$9.3M)— not “one quarter = 173% of a year.”
what just happened
Through Sep 30, 2025 the company was still posting net losses (with heavy non-cash items in 2025)— read Q3 2025 10-Q EPS lines, not a mis-labeled “$26M quarter.”
At a glance
B balance sheet — gets the job done, barely
commodity + restart risk — numbers swing hard quarter to quarter
1.4% return on capital — nothing to write home about
-$0.02 fy2024 eps est
$15M fy2024 rev est
xvary composite: 58/100 — below average
What they do
It processes antimony chemicals and mines zeolite, then sells both into industrial and environmental markets.
This is not a classic moat. It is scarcity. U.S. Antimony has just 27 employees and $0M of long-term debt, yet it operates one of the few U.S.-based antimony processing businesses. If you need domestic antimony oxide or sodium antimonate, your supplier list is short, and short lists matter when supply gets tight.
How they make money
$15M
annual revenue · their business grew +0.0% last year
antimony oxide
$6.0M
sodium antimonate
$2.3M
antimony metal
$1.7M
zeolite products
$4.5M
other processing and byproducts
$0.5M
The products that matter
mining and smelting
Antimony
$5.96 → $28.72 per pound
Antimony pricing has been volatile— tie any “$X per pound” quotes to the same date and index your data vendor uses. Nine-month 2025 gross margin was ~28% in company materials.
commodity lever
industrial filtration minerals
Zeolite
inside ~$26.2M (9mo 2025 sales)
Zeolite is the non-antimony wedge— segment disclosure is still thin in quick screens; use the revenue footnotes in the 10-Q.
second line
capacity buildout
Montana expansion
$27M award · 400–500 tons per month target
this is the whole story stock in one card. if management reaches 400–500 tons per month by early April 2026, the revenue base changes fast. if it misses, the valuation looks even stranger.
execution test
Key numbers
$15M
annual revenue
That is the full-year sales base you are paying roughly $1B for. The ratio is the story.
~28%
9mo gross margin
Nine months 2025 gross margin ~28% (press materials)— still reconcile to operating and net loss after overhead and non-cash items.
$0M
long-term debt
No debt buys time. It does not solve a weak profit model, but it lowers balance-sheet risk.
182%
9mo rev growth
First nine months 2025 revenue growth vs. prior-year same period— the slope matters more than any single headline quarter.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 2 — safer than 80% of stocks
- price stability 5 / 100
- long-term debt $0M (0% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for UAMY right now.
source: institutional data · return history unavailable
What just happened
Q3 / 9mo 2025
First nine months 2025 revenue ~$26.2M (+~182% vs. prior-year nine months)— not a single “$26M quarter.”
Nine-month gross profit ~$7.2M (~28% margin) with large 2025 non-cash items (e.g. stock-based comp) affecting net loss— always read the 10-Q cash vs. GAAP bridge.
~$26.2M
9mo 2025 revenue
182%
9mo YoY growth
~28%
9mo gross margin
the number that mattered
Separating nine-month revenue acceleration from full-year profitability— the valuation is scarcity/options; the filings are accounting.
source: UAMY Q3 / nine months ended Sep 30, 2025 materials · 10-Q · summary: StockTitan digest
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What could go wrong
the top risk here is valuation outrunning a single expansion project. UAMY is priced like the 2026 target is already half-built and half-proven.
med
extreme valuation
the stock trades at 42.5x sales versus 3.1x for its industry. even the source snapshot's fair-ratio estimate of 6.5x is nowhere close to where the shares sit now.
if the market stops paying up for the ramp story, the downside is not subtle. a move back toward peer multiples would crush the equity.
med
execution on the $27M expansion
management is targeting 400–500 tons per month by early April 2026. that is a hard operating target tied to a very soft market narrative.
miss that ramp and the stock loses the one concrete milestone holding up a $1B valuation on a $15M revenue base.
med
losses still overwhelm gross profit
gross margin is 27.5%, but operating margin is -16% and net margin is -15.5%. the business keeps some revenue after direct costs, then gives too much of it back.
if revenue scales without expense discipline, you can get bigger sales and the same basic problem.
med
commodity and feedstock dependence
antimony prices moved from $5.96 to $28.72 per pound, and North American pricing hit $53.13 per kg in February 2026. those numbers help the story, but they also tell you how exposed revenue is to a volatile market.
if metal pricing cools or third-party ore stays expensive, margin improvement gets delayed right when the valuation is asking for acceleration.
the cleanest way to say it: you have a $1B stock, a $15M revenue base, and a thesis that leans heavily on one $27M expansion award turning into operating proof fast.
source: institutional data · regulatory filings · risk analysis
Pay attention to
deadline
early april 2026 production ramp
management's target is 400–500 tons per month of finished product. if you own the stock, this is the milestone to watch first.
numbers
q1 2026 earnings on april 6, 2026
consensus sits at -$0.01 EPS. you want to see whether revenue starts catching up to the ramp story.
trend
the leap from $15M to a $125M 2026 target
same company, very different numbers. if progress stalls, the multiple has a long way down.
risk
42.5x sales versus 3.1x for the industry
this gap is the stock. you do not need perfect execution, but you need enough progress to defend a multiple this stretched.
Analyst rankings
earnings predictability
100 / 100
in human-speak, the historical pattern in reported numbers has been consistent even if the business itself stays tiny and volatile.
price stability
5 / 100
this trades like a speculation vehicle, not a sleepy materials name. if you own it, expect movement first and explanation second.
source: institutional data
Institutional activity
institutional ownership data for UAMY is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$5
current price
n/a
target midpoint · n/a from current
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