UNITED STATES ANTIMONY CORP — Form 8-K
Filed August 11, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 68/100
What the filing says
United States Antimony reported Q2 2026 revenue of $7.9M (down from $10.5M YoY) with net income of $0.1M, driven by antimony prices collapsing 52% to $13.70/lb from $28.32/lb. The company delivered its first two DLA shipments (~82,000 lbs; ~$2.6M recognized in Q3) and received a $12.8M Department of War Title III grant payment. Full-year 2026 revenue guidance was slashed to $60–75M from $125M, citing commodity price decline and DLA delivery timing shifts. Positively, the company doubled working capital to $70M via $49.1M in equity issuances, inventory surged 178% to support future production, zeolite revenue grew 110% YoY, and a $43.2M equity stake in Larvotto Resources appreciated to $46.7M by August 10, 2026.
Why this rating
Guidance cut of 52% (from $125M to $60–75M midpoint ~$67.5M) is material—guidance miss damages credibility. DLA ramp materially delayed; commodity price collapse erodes margins. However, strong capital raise, inventory buildup, and government grant provide runway. For a $250M company, this is a significant setback but not existential; strategic position in critical minerals remains intact.
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