Uranium Royalty initiated with a Buy at B. Riley

B. Riley initiated coverage of Uranium Royalty with a Buy rating and $3.50 price target implying approximately 36% potential upside. Uranium Royalty is a pure-play uranium royalty company with an “impressive portfolio” of 22 royalties across 19 assets, many of which are large blue-chip uranium assets like Cigar Lake, McArthur River, Roughrider, and Michelin, the analyst tells investors in a research note. While only three assets are in commercial production today, the company has an attractive medium-term growth story, contends Riley.