United States Antimony (UAMY) Is Down 19.6% After Swinging To First-Half 2026 Net Loss – What’s Changed

• United States Antimony Corporation has now reported its past second-quarter 2026 results, with sales of US$7.93 million and net income of US$110,290, down from sales of US$10.53 million and net income of US$181,555 a year earlier.
• For the first half of 2026, sales fell to US$14.71 million while the company swung from net income of US$728,079 to a net loss of US$11.18 million, highlighting a sharp deterioration in profitability despite earlier growth expectations.
• We’ll now examine how this shift from profit to loss, alongside recent analyst optimism, affects United States Antimony’s investment narrative.

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United States Antimony Investment Narrative Recap

To own United States Antimony today, you have to believe that its critical‑minerals role and capacity expansion plans can ultimately outweigh near term earnings volatility. The latest results, with a swing to a first half loss of US$11.18 million, raise questions about how quickly higher throughput or new contracts can translate into sustainable profitability, and they sharpen the immediate risk that continued operational or regulatory setbacks at key projects could further strain a business already operating with limited financial cushion.

The most relevant recent development here is the Q1 2026 report, which already showed a US$11.29 million net loss on modestly lower sales, setting the tone for the weak first half now confirmed in Q2. Taken together, Q1 and Q2 results suggest that any previous catalysts tied to volume growth or pricing power are, at least for now, being offset by cost pressures and operational challenges, which investors need to weigh against ongoing analyst optimism and potential government related opportunities.

Yet the sharp first half loss and ongoing permitting and supply chain pressures mean investors should be aware that…

Read the full narrative on United States Antimony (it’s free!)

United States Antimony’s narrative projects $334.5 million revenue and $47.5 million earnings by 2029. This requires 109.4% yearly revenue growth and a $63.8 million earnings increase from -$16.3 million today.

Uncover how United States Antimony’s forecasts yield a $11.19 fair value, a 103% upside to its current price.

Exploring Other Perspectives

Before this weak first half, the most optimistic analysts were penciling in revenue growth of about 118.6% a year and earnings of roughly US$71.5 million by 2029, which is far more upbeat than the baseline view and may look very different once these latest results and contract concentration risks are fully factored in, so you should treat this as one of several very different viewpoints to compare.

Explore 15 other fair value estimates on United States Antimony – why the stock might be worth less than half the current price!

Form Your Own Verdict

Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

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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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