
US Antimony Stock On 5-Day Winning Streak - What's Making Investors Bullish?
United States Antimony (UAMY) stock has notched five consecutive sessions of gains amid growing investor optimism around critical mineral firms.
Shares of the firm, which operates the only antimony smelters in North America, closed at an all-time high on Thursday after rising over 14% in the regular trading session, following China's imposition of export restrictions on rare earths. While antimony is not part of the rare earth group, it benefited from the positive sentiment.
Retail sentiment on Stocktwits about United States Antimony was in the 'bullish' territory at the time of writing, compared with 'neutral' a month ago. The stock has seen a 17% uptick in follower count on the social media platform over the past month.
Antimony is used in munitions, batteries, military-grade compounds, and the semiconductor industry. However, China controls 65% of global antimony and restricted exports of the critical mineral last year amid its tussle with Washington, D.C. The restrictions have brought United States Antimony into the spotlight as the sole refiner of the metalloid, whose prices have skyrocketed to over $20 per pound from $5 per pound following Beijing's export ban.
CEO Gary Evans said in a Fox Business interview earlier this week that the company could meet the growing U.S. demand within a year or two by ramping up output. Last month, the company secured a five-year contract worth up to $245 million from the U.S. Defense Logistics Agency to contribute to the antimony stockpile.
Last week, President Donald Trump signed an executive order to build a key road in Alaska to connect minerals-rich, isolated parts of the state to a highway. The infrastructural development will likely help the firm to ramp up production, as it has already secured claims of over 35,000 acres in Alaska for mining to supply to its smelter in Montana.
One user described the stock as undervalued and the critical minerals sector as“red-hot.”
“Get in or buy higher tomorrow,” another user said.
The stock has risen over fivefold this year. Investors are now keenly waiting for the start of its Alaska operations following the acquisition of the necessary permits.
For updates and corrections, email newsroom[at]stocktwits[dot]com.
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