United States Antimony Corporation

Based on the provided data, United States Antimony Corporation (UAMY) presents a highly speculative and concerning investment profile.

Technical Analysis The stock displays extreme volatility, with a severe 74% drawdown highlighting significant downside risk. While it has outperformed the market recently, its price movement is largely independent of broader trends, suggesting high idiosyncratic risk. Trading far below its 52-week high, the technical picture remains weak.

Fundamentals & Valuation Fundamentals are critically weak, with Q3 showing a drastic swing to a net loss and a -55% profit margin due to soaring expenses. Operational efficiency is poor, and the company is burning cash. Valuation is uninterpretable through standard metrics due to persistent unprofitability, and its extremely high price-to-book ratio of 14.5 suggests significant overvaluation.

Risk & Recommendation The primary risks are extreme price volatility and deteriorating operational performance. The combination of negative cash flow, declining revenue, and poor operational metrics indicates a troubled underlying business. While the company has minimal debt, this is overshadowed by its inability to generate profits.

Recommendation: NOT WORTH BUYING. UAMY represents a highly speculative gamble, not a sound investment. The severe fundamental deterioration, negative cash flow, and extreme valuation disconnect present substantial risk. Investors should avoid this stock until there is clear, sustained evidence of a operational turnaround and a path to profitability. The current data suggests a high probability of continued shareholder value erosion.

RockFlow Model Forecast: Three Scenarios for 2026

Based on the comprehensive analysis provided, the 12-month outlook for UAMY is highly pessimistic. The key catalyst for any positive movement would be a dramatic and sustained operational turnaround, such as a significant rebound in antimony prices, a return to profitability, or a major new contract. However, the primary risks far outweigh this possibility; these include continued cash burn, severe fundamental deterioration, and extreme price volatility that could lead to further substantial losses. In the absence of any analyst target prices, the weak technical and fundamental position suggests the stock is more likely to test lower price levels than to appreciate, making any defined target range speculative. Investors should expect high risk of capital erosion over this period.

Wall Street Consensus

Most Wall Street analysts are optimistic about United States Antimony Corporation's 12-month outlook, with consensus target around $7.70, indicating expected upside potential.

Overall, UAMY has investment potential but also faces challenges. Here are key factors to weigh before investing.

UAMY has demonstrated extreme volatility with substantial losses from recent highs despite maintaining positive relative performance over the medium term.

The stock has declined sharply over the past month (-16.94%) but retains a positive 3-month return of 7.09%, notably outperforming the market by 5.24% during this period. This divergence highlights UAMY's high volatility, further evidenced by its remarkably low beta of 0.018 suggesting price movements largely independent of broader market trends.

Currently trading at $7.7, UAMY sits approximately 61% below its 52-week high of $19.71 but remains significantly above its 52-week low of $1.21. Despite the recent pullback, the stock's position well above its low suggests it is not in an oversold condition, particularly given its substantial 74.3% maximum drawdown over the past year indicates persistent downward pressure from previous highs.

Revenue & Profitability: UAMY's Q3 revenue of $8.7 million represents a 17% sequential decline from Q2's $10.5 million, indicating negative growth momentum. More concerning is the sharp deterioration in profitability, with the company swinging from a modest net income in Q2 to a significant net loss of $4.8 million in Q3, resulting in a deeply negative net profit margin of -54.9%. The primary driver appears to be an explosive increase in SG&A expenses, which more than doubled quarter-over-quarter and completely eroded the gross profit.

Financial Health: The company exhibits minimal leverage with a negligible debt-to-equity ratio of 0.004, suggesting a conservatively financed balance sheet. However, liquidity metrics are misleadingly strong due to the equity-heavy capital structure, as the core operating performance is critically weak, evidenced by a deeply negative operating cash flow and a cash flow to debt ratio of -14.6, indicating an inability to service obligations from operations.

Operational Efficiency: Operational efficiency is severely deficient, with a negative Return on Equity of -6.7% and a very low asset turnover of 0.11, signaling poor utilization of both equity and total assets to generate sales. The inventory turnover of 0.80 and the cash conversion cycle of 76 days further highlight inefficiencies in working capital management, pointing to capital being tied up for extended periods without productive returns.

Valuation Level The valuation is uninterpretable through conventional earnings-based metrics, as both trailing and forward P/E ratios are deeply negative, reflecting persistent unprofitability. Similarly, the negative EV/EBITDA indicates weak underlying operational cash generation. Only the P/B ratio appears meaningful, standing at 14.54, which is extremely elevated and suggests the market price is significantly disconnected from the company's book value.

Peer Comparison Without industry average data, a direct comparison is not possible. However, a price-to-book ratio of 14.54 is exceptionally high for most industrial or materials sectors, where book value often anchors valuation. This indicates that UAMY trades at a substantial premium to its net asset value relative to typical industry norms, implying significant overvaluation on a book-value basis absent extraordinary growth prospects.

Volatility Risk: The exceptionally low beta of 0.018 indicates that UAMY's price movements are largely disconnected from the broader market, suggesting high idiosyncratic risk and making it unpredictable from a systematic standpoint. The severe 1-year maximum drawdown of -74.3% underscores extreme volatility and substantial price depreciation risk, highlighting a highly speculative equity profile.

Other Risks: The absence of reported short interest eliminates the immediate threat of a short squeeze but may also reflect a lack of market participation or transparency regarding bearish positioning. This, combined with the stock's typically low liquidity, presents significant challenges for entering or exiting positions without impacting the share price, heightening execution risk.