United States Antimony (NYSE:UAMY) stock is up 8% midday Wednesday to $5.63 after the board authorized a share repurchase program of up to $100 million. The move carries outsized weight coming days after a badly missed quarter and guidance cut.
The broader critical minerals complex is barely moving. USA Rare Earth (NASDAQ:USAR) stock is down 2% to $18.16, MP Materials (NYSE:MP) stock is up 0.4% to $56.92, and Critical Metals (NASDAQ:CRML) stock is up 0.9% to $6.21. Wednesday’s action is UAMY-specific rather than a sector rerating.
UAMY stock had climbed 4% year to date (YTD) through Tuesday’s close. The rebound reflects a company action.
The $100 Million Buyback Authorization
The board approved a program under which United States Antimony may repurchase up to $100 million of its outstanding common stock. Repurchases may occur in the open market, in privately negotiated transactions, or otherwise, with amount and timing at the discretion of the company’s Finance Committee. The authorization is discretionary.
Chairman and CEO Gary C. Evans provided a concise statement:
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.
Evans said the United States Antimony board discussed the recent share price after reviewing the company’s projects across the United States, Canada, and Mexico.
The Quarter That Set the Stage
United States Antimony’s second-quarter revenue dropped 25% to $7.9 million, well below a Wall Street estimate of $21.7 million, according to Fiscal.ai. Antimony sales volume rose 26% to 428,425 pounds. Volume growth did not offset the price collapse.
United States Antimony cut its full-year revenue outlook to a range of $60 million to $75 million, down from earlier guidance of $125 million. Cash and equivalents rose to $41.4 million from $30.5 million at the end of 2025.
H.C. Wainwright maintained a Buy rating on United States Antimony stock, citing balance sheet strength and zeolite growth. The consensus 12-month price target sits at $11.19, with all four covering analysts rating it a Buy. United States Antimony describes itself as the only fully integrated antimony company in the world outside of China and Russia.
How the Peer Critical Minerals Names Traded
USA Rare Earth stock traded lower without a company-specific catalyst Wednesday, though the shares remained up 56% YTD through Tuesday’s close. The company is building an integrated rare earth and permanent magnet supply chain from mining through neodymium-iron-boron magnet manufacturing, anchored by a magnet facility in Stillwater, Oklahoma and the Round Top heavy rare earth deposit in Texas.
MP Materials stock is essentially flat, with the shares up 12% YTD through Tuesday’s close. The company operates the Mountain Pass rare earth mine and processing facility in California and manufactures permanent magnets at its Independence facility in Fort Worth, Texas.
Critical Metals stock ticked higher, though the shares are down 11% YTD through Tuesday’s close. Critical Metals is a pre-revenue development-stage company whose assets include the Tanbreez rare earths deposit in Greenland and the Wolfsberg lithium project in Austria, with production not expected until 2028 or 2029.
A Rare Earth ETF for Context
The VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) is down 1% to $75.77, with the fund up 4% YTD through Tuesday’s close. REMX is a narrow thematic vehicle focused on rare earth and strategic metals producers, so its daily moves track a small set of mining and processing names rather than a broad basket.
Thematic commodity funds like REMX carry both single-country policy risk and small-cap concentration risk. A rule change from a major producing jurisdiction or a rerating in a handful of top holdings can drive outsized swings, so position sizing matters more than with diversified funds.
What to Watch
The UAMY story is a management-signaling event layered on top of a difficult operating quarter. The authorization gives United States Antimony a tool to support the stock, yet it does not obligate spending or fix commodity price weakness in antimony.
Investors could look for signs that United States Antimony begins executing repurchases in coming filings, since an authorization without follow-through carries less weight. A moderate position size makes sense for anyone playing a commodity turn where guidance was just halved. The rest of the critical minerals complex is treading water, so the next catalysts likely come from company-specific milestones rather than a sector move.
Contact [email protected] for any questions or corrections.
Top Gaining Stocks
Top Losing Stocks