Energy Fuels downgraded to Neutral from Buy at Roth Capital

Roth Capital downgraded Energy Fuels (UUUU) to Neutral from Buy with a price target of $6, up from $5.75. The firm believes the shares are fairly valued at current levels. Energy Fuels shares are likely to underperform its uranium peers due to the company’s diversification into rare earths, the analyst tells investors in a research note. Roth also sees potential for equity dilution as the company looks to fund its Astron investment as well as an expansion of its rare earth processing capabilities at the White Mesa mill.