United States Antimony (UAMY) drew fresh attention after reporting full year 2025 results, with sales of US$39.26 million compared with US$14.94 million a year earlier, alongside a wider net loss of US$4.34 million.
See our latest analysis for United States Antimony.
The earnings release appears to have coincided with building momentum, with a 27.52% 1 month share price return and a 55.43% 3 month share price return, while the 1 year total shareholder return is very large.
If this kind of move has you looking at other materials names, it could be a good moment to scan the rare earths space and see which peers stand out using the 26 best rare earth metal stocks
With revenue at US$39.26 million, a net loss of US$4.34 million, strong recent returns and a share price below the current analyst target, you now have to ask: is there value left here, or is the market already pricing in future growth?
Most Popular Narrative: 14.8% Undervalued
United States Antimony’s most followed narrative pins fair value at $11.58 versus a last close of $9.87, which sets up a bullish implied gap for investors to interrogate.
US Antimony is expanding its domestic processing capacity (for example, a sixfold increase at the Thompson Falls facility is expected by year-end) and increasing ore supply both from its own Montana/Alaska projects and multiple new international sources, which should drive higher production volumes and sustained revenue growth through increased throughput and supply security.
Curious what underpins that higher fair value? The narrative leans heavily on rapid revenue expansion, margin uplift and a future earnings profile that looks very different from today. The numbers behind those assumptions are punchy. The full narrative lays out how those projections stack up against the current share price.
Result: Fair Value of $11.58 (UNDERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, that upside story leans heavily on smooth permitting and new hydromet projects, and delays, cost overruns, or weaker than expected recoveries could quickly challenge those assumptions.
Find out about the key risks to this United States Antimony narrative.
Another Angle On Valuation
The popular narrative points to a fair value of $11.58 and calls United States Antimony undervalued, but the price tag looks steep on sales. At a P/S of 36x, compared with 4.9x for peers and a 5.8x fair ratio, the gap suggests meaningful valuation risk if expectations cool.
See what the numbers say about this price — find out in our valuation breakdown.
Next Steps
Mixed messages in the story so far? With both risks and potential rewards on the table, now is the time to review the data for yourself and weigh the trade off using the 2 key rewards and 3 important warning signs
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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