Rheinmetall, Plug Power, Antimony Resources: Buy or Sell?

Antimony Resources: A Stock with Over 200% Potential?

An interesting buying opportunity is currently emerging with Antimony Resources. Like numerous other commodity stocks, the exploration company’s stock has consolidated in recent weeks. At the same time, three positive announcements were published in May alone, highlighting the potential of the Canadian Bald Hill antimony project.

The outlook for antimony remains very attractive. The metal is considered strategically critical and is needed in the defence industry, flame retardants, battery technologies, and semiconductors, among other applications. At the same time, global supply is dominated by China. Projects in North America are therefore strategically significant, and the company now speaks of a potentially high-grade antimony deposit there.

In early May, Antimony Resources announced the next major exploration phase at Bald Hill. A total of approximately 19,000 m of additional drilling is planned—13,000 m in the Main Zone and another 6,000 m in newly discovered target areas. At the same time, extensive soil sampling, mapping, and trenching are underway on the property, which has now been expanded to 37 km². The first assay results from the winter drilling program then attracted additional attention.
On May 12, the company reported high-grade antimony mineralization with grades of up to 13.9% antimony, as well as mineralized zones up to 6.2 m thick. The drilling was aimed at extending the Main Zone to greater depths and confirmed mineralization at depths of nearly 500 m.

Just one day later, the next major announcement followed. Further drill results again yielded exceptionally high grades. Drill hole BH-26-10 stood out in particular with two wide mineralized intervals over more than 13 m in length, containing high-grade intervals with up to 26.7% antimony (Sb). What is crucial here is not only the high grade but also the depth of the mineralization, which extends to over 350 m. This points to significant depth potential. At the same time, the deposit remains open in all directions. According to the current NI 43-101 report, the conceptual exploration target is already around 2.7 million tons with grades of 3% to 4% antimony—and that is without the latest extension zones.

The results make it clear that GBC Research’s price target is quite realistic. Analysts see the fair value of Antimony Resources’ stock at CAD 3.00 (EUR 1.90). The share, which is also actively traded in Germany, is currently trading just above EUR 0.50. In March, it was still trading above EUR 0.90. Meanwhile, the company has continued to develop fundamentally.

Rheinmetall: Not All Bad

Rheinmetall’s stock has lost over 25% in the past four weeks, and since its all-time high last fall—when the stock briefly surpassed the EUR 2,000 mark—the decline has been as much as 45%. The market capitalization has shrunk to EUR 52 billion. Given analysts’ estimates for the coming years, the valuation has also come down. For example, mwb research expects Germany’s largest defence contractor to generate approximately EUR 25 billion in revenue and a net profit of EUR 3.2 billion in 2028.

Furthermore, it has become increasingly clear in recent months that Rheinmetall is far more than just a supplier of heavy, “old” military equipment. Most recently, a strategy for so-called multi-domain operations was presented at the AFCEA trade show in Bonn. This involves networking military systems across various domains—including land, air, sea, space and the cyber and information domains. Rheinmetall sees itself as an “All Domain System House” and aims to connect platforms, sensors, and effectors via a common digital architecture. The basis for this is a software-defined “Battlesuite” designed to interconnect and coordinate different systems in an interoperable manner.

According to the company, the sensor-effector chain begins in space, for example, through satellites used to generate comprehensive situational awareness. This information is then to be transmitted in real time to various military systems—from drones to armoured vehicles. The Battlesuite is based on a standardized “Tactical Core” that serves as middleware and can integrate new functions or AI-supported applications. Rheinmetall particularly emphasizes the architecture’s openness, interoperability, and future-proofing to enable cross-vendor communication and faster responsiveness in complex operational scenarios.

Plug Power: Buy or sell?

Plug Power’s stock seems unstoppable at the moment. Since early March, the stock has roughly doubled in value. The 3% drop on Friday hardly matters in comparison. The fuel cell company is currently also being touted as a winner of the AI-driven energy boom.

Although the quarterly figures were deep in the red overall, they were celebrated by investors and even some analysts. B. Riley is clearly among the Plug bulls. Following the quarterly results, the analysts raised their price target from USD 3 to USD 5 and recommend buying the stock. They attribute their optimism to revenues that were significantly better than expected and an improved gross margin. According to analysts’ assessments, Plug is increasingly benefiting from demand in its core markets for electrolyzers and hydrogen production. In addition, B. Riley believes the company is well-positioned to further accelerate growth in the second half of the year. Plug itself expects that around 60% of its 2026 revenue will be generated from July through December.

Analysts at RBC Capital, on the other hand, are putting the brakes on the euphoria. They consider the former investor favourite to be fairly valued at USD 2.75 and thus currently significantly overpriced. The stock is currently trading at USD 3.70. The analysts specifically pointed to significant margin progress and believe Plug Power is now outperforming its own operational expectations. They also highlighted the progress of the “Project Quantum Leap” restructuring program. At the same time, RBC remains cautious, as the company continues to struggle with high losses and a challenging path to sustainable profitability despite improved metrics.

At Rheinmetall, disappointment currently prevails. Following the initial euphoria, the market must first come to terms with the fact that the full order books cannot be processed as quickly as hoped. A buy is not yet a pressing priority. In contrast, Antimony Resources appears ripe for a turnaround. With every announcement, it becomes clearer that the company could be sitting on a real treasure trove of raw materials. At Plug Power, the bulls are currently stepping on the gas. However, a major setback is possible at any time.

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