Westwater Resources: Buy Rating Reiterated as Graphite Strategy Advances and $1.75 Price Target Remains Unchanged

H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Westwater Resources today and set a price target of $1.75.

Heiko Ihle has given his Buy rating due to a combination of factors tied to Westwater Resources’ strengthening financial position and strategic progress in graphite. He underscores that, despite the firm still being pre-production, its cash balance of $41.5 million versus a much lower level a year earlier provides ample liquidity relative to its current spending needs, supporting the advancement of its projects without immediate financing pressure.

In addition, Ihle points to an expanding customer pipeline and the long-term value of the Kellyton Graphite Plant as key drivers of his positive stance. He highlights ongoing sample deliveries and engagement with major global battery and OEM counterparties, the potential to reframe lapsed offtakes under better terms, and a DCF-based valuation of the graphite operations plus cash that supports a $1.75 price target, unchanged from prior estimates, while already factoring in execution and first-mover risks.