Michael A. McManus Jr., a director at United States Antimony Corp (NYSE:UAMY), acquired 50,000 shares of common stock on November 18, 2024. The shares were bought at a price of $0.565 each, amounting to a total transaction value of $28,249. Following this purchase, McManus holds 268,333 shares directly. This acquisition reflects McManus's continued investment in the company, which is involved in the primary smelting and refining of nonferrous metals.
In other recent news, United States Antimony Corporation reported a 23% increase in sales to $8.1 million for the first nine months ending September 30, 2024. The company's gross profit also rose substantially by 107% to $2.2 million, despite an increase in operating expenses. The company's cash and cash equivalents showed an improvement from the previous year, standing at $12.97 million.
The company's strategic initiatives include purchasing mineral claims and engaging with U.S. government officials for potential sales and funding. Efforts are underway to source new antimony supplies in response to China's increased restrictions on rare earth minerals.
In terms of outlook, the company is focusing on operational improvements and strategic sales initiatives in the zeolite and antimony sectors. It is also aiming to produce antimony material by 2025 and is in negotiations with major firms for a 100% domestic supply of antimony products, in line with a government executive order.
However, the company reported increased losses despite higher revenues and gross profits. These recent developments underscore the company's navigational strategies amidst market challenges, with a focus on securing new antimony supplies and enhancing investor relations.
InvestingPro Insights
Michael A. McManus Jr.'s recent acquisition of United States Antimony Corp (NYSE:UAMY) shares comes at an interesting time for the company. According to InvestingPro data, UAMY has experienced significant revenue growth, with a 21.44% increase in the last twelve months as of Q3 2024. This growth trend is further supported by a 4.65% quarterly revenue increase in Q3 2024.
Despite this positive revenue trajectory, InvestingPro Tips highlight some challenges facing the company. UAMY suffers from weak gross profit margins, which is evident in the negative gross profit of $0.91 million and a gross profit margin of -9.11% over the last twelve months. Additionally, the company is not profitable over the last twelve months, with an operating income margin of -60.53%.
On the bright side, UAMY has shown remarkable stock performance, with a 127.47% price total return over the past six months and an impressive 87.93% return over the last year. This aligns with the InvestingPro Tip indicating a "high return over the last year."
It's worth noting that UAMY operates with a moderate level of debt and its liquid assets exceed short-term obligations, which could provide some financial stability as the company navigates its growth phase.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 9 additional InvestingPro Tips available for UAMY, which could provide valuable context for understanding the company's financial health and market position.
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