Thursday, March 17, 2022
Energy Fuels (UUUU)(EFR:CA)
Ramp Up Is Coming Slowly But Higher Prices Could Spur Activity
As of April 24, 2020, Noble Capital Markets research on Energy Fuels is published under ticker symbols (UUUU and EFR:CA). The price target is in USD and based on ticker symbol UUUU. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.
Energy Fuels is the largest uranium producer in the U.S. and holds more production capacity and uranium resources than any other U.S. producer. The Company also produces vanadium. Headquartered in Colorado, Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Facility in Wyoming, and the Alta Mesa ISR Facility in Texas. The producing White Mesa Mill is the only conventional uranium mill in the U.S. and has a licensed capacity of 8 million pounds of U3O8 per year. Nichols Ranch is in production and has a licensed capacity of 2 million pounds of U3O8 per year. Alta Mesa is currently on standby. Energy Fuels also owns several licensed and developed uranium and vanadium mines on standby and other projects in development.
Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Energy Fuels reported 2021 results generally in line with expectations. Given limited sales, results are largely a function of costs and fairly easy to predict. UUUU reported an operating loss for the year of $35.3 million, slightly larger than our $32.4 million estimate. Net income was $1.5 million versus our estimate of $(36.4) million but if one removes a $35.7 million gain on the sale of assets, results were in line. The company’s cash and inventory positions remain strong and there is growing optimism that rising prices could lead to sales.
Not much for developments in the last quarter, mainly a rehash of 2021’s top press releases. Management announced that has begun separating Lanthanum and Cerium in its rare earth elements (REE) processing operations. It also announced the execution of a memorandum of understanding to develop a new technology to produce REE metals at a lower costs. Outside those announcements, the only other thing …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
