UPDATE: H.C. Wainwright Initiates Coverage on United States Antimony Ahead of Possible North American-Centric Monopoly

In a report published Thursday, H.C. Wainwright & Co. analyst Jeffrey Wright initiated coverage on

with a Buy rating and $3.00 price target. In the report, H.C. Wainwright & Co. noted, “UAMY is set up to evolve and grow into a North American centric monopoly for antimony, an industrial use metal. We believe UAMY is in the pole position for the antimony space outside the less than transparent Chinese marketplace. Antimony is an essential component for industrial manufacturing of fire-resistant materials with a strong demand side. The supply dynamics are less secure with Chinese sources contracting along with a lack of investment in alternatives for the past few decades. UAMY's strategy as a fully integrated producer and supplier of antimony metal provides the only US listed vehicle to gain exposure in the sector.” United States Antimony Corporation closed on Wednesday at $1.63.