United States Antimony Launches $100M Buyback Program – Here’s What Triggered The Move

• Q2 revenue dropped 25% to $7.9 million, below Wall Street’s $21.7 million estimate, according to Fiscal.ai.
• UAMY cut FY26 revenue outlook to between $60 million and $75 million from its earlier guidance of $125 million.
• Last week, H.C. Wainwright maintained its ‘Buy’ rating on the stock, citing a strong balance sheet.

Shares of United States Antimony (UAMY) jumped more than 8% on Wednesday after the critical-minerals producer authorized a share repurchase program of up to $100 million, following a nearly 21% decline since its second-quarter results.

CEO Gary Evans said the board concluded that the stock was undervalued after reviewing the company’s projects across the U.S., Canada and Mexico.

“In light of the future potential of the company’s current activities and after a thorough review by the Board of Directors, it was determined by unanimous consent, that the price of USAC’s common stock was deemed to be undervalued and the company should implement the share repurchase program today,” he said.

Weak Pricing Drags Second-Quarter Results

The announcement follows a difficult second quarter during which revenue dropped 25% to $7.9 million, far below Wall Street’s $21.7 million estimate, according to Fiscal.ai.

While antimony sales volume increased 26% to 428,425 pounds, the average selling price fell to $13.70 per pound from $28.32 a year earlier. The company subsequently cut its full-year 2026 revenue outlook to $60 million to $75 million, down from its earlier guidance of $125 million.

Wall Street Remains Positive On Balance Sheet Strength

However, Wall Street remained positive on the stock, with H.C. Wainwright maintaining its ‘Buy’ rating, citing a strong balance sheet and the growth potential of the zeolite business.

United States Antimony’s working capital doubled to $70 million at the end of June from $35 million at the end of March, primarily due to equity issuances. Cash and equivalents rose to $41.4 million from $30.5 million at the end of 2025, while investments in U.S. Treasury securities edged up to $20.7 million from $20.4 million.

The stock has a consensus 12-month price target of $11.19, according to Koyfin. All four analysts covering the stock have rated it a ‘Buy.’

Retail’s Take On The $100M Buyback

Despite the upward movement, retail sentiment surrounding UAMY on Stocktwits flipped to ‘bearish’ from ‘bullish’ a day earlier.

One user said that if the company has the funds to repurchase shares, it means “they have more cash coming down the pipe from somewhere.”

The stock has gained around 12% so far this year.

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