United States Antimony (UAMY) Valuation After New Hydrometallurgical Joint Venture In Critical Minerals

Simply Wall St

Sat, February 14, 2026 at 5:12 PM GMT+9 3 min read

In this article:

UAMY

+3.11%

USAS

+4.87%

HG=F

+0.30%

SI=F

+3.02%

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United States Antimony (UAMY) has moved into the spotlight after forming a joint venture with Americas Gold and Silver to build a commercial hydrometallurgical facility in Idaho for antimony, copper, and silver processing.

See our latest analysis for United States Antimony.

The joint venture headlines arrive after a sharp run, with a year to date share price return of 28.5% and a very large 1 year total shareholder return of 301.05%. However, the 7 day share price return of 11.5% and 30 day return of 13.21% show some of that momentum cooling in the short term.

If this move in critical minerals has your attention, it could be worth scanning our list of 30 best rare earth metal stocks as a starting point for other potential ideas in the space.

With UAMY trading at US$7.62, currently below an indicated intrinsic value and at a discount to analyst targets, the key question is simple: is this a rare value setup in critical minerals, or is the market already pricing in years of growth?

Most Popular Narrative: 21.2% Undervalued

At a last close of $7.62 against a narrative fair value of about $9.67, United States Antimony is framed as undervalued, built on an aggressive growth and profitability story that goes well beyond the recent joint venture headlines.

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. This combination is expected to drive higher production volumes and sustained revenue growth through increased throughput and supply security.

Read the complete narrative.

Want to see what kind of revenue ramp and margin shift would need to sit behind that capacity story? The narrative sketches a dramatic reset in both top line and earnings power, backed by assumptions that would reshape how this business is valued if they play out.

Result: Fair Value of $9.67 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, there is still real execution risk here, ranging from permitting delays at key projects to potential demand shifts if customers substitute away from antimony over time.

Find out about the key risks to this United States Antimony narrative.

Another View: High P/S Ratio Raises A Flag

That 21.2% discount to fair value sits uncomfortably next to UAMY’s current P/S ratio of 33.5x. The broader US Metals and Mining group sits at 2.6x, peers at 7.3x, and the fair ratio is 2.8x, which suggests a lot of optimism is already in the price. Does that change how you read the growth story?

Story continues  

See what the numbers say about this price — find out in our valuation breakdown.

NYSEAM:UAMY P/S Ratio as at Feb 2026

Build Your Own United States Antimony Narrative

If you see the numbers differently or simply want to test your own assumptions, you can spin up a custom narrative in just a few minutes, starting with Do it your way.

A great starting point for your United States Antimony research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.

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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._

Companies discussed in this article include UAMY.

Have feedback on this article? Concerned about the content? Get in touch with us directly._ Alternatively, email editorial-team@simplywallst.com_

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