UR-Energy (TSE:URE)
TSX:URE
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Positive Factors
Contracted 2026 Deliveries
A 1.3M lb contracted delivery program for 2026, supported by year‑end inventory, provides durable near‑term revenue visibility and reduces immediate spot exposure. This backlog enables production planning and helps bridge to higher throughput, supporting predictable cash generation when shipments occur.
Negative Factors
Persistent Negative Cash Flow
Repeated operating and free cash‑flow deficits force the company to rely on external financing or dilutive instruments to fund operations and growth. Persistent cash burn undermines autonomous capital formation, raises execution risk for multi‑year projects, and lengthens the path to sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Contracted 2026 Deliveries
A 1.3M lb contracted delivery program for 2026, supported by year‑end inventory, provides durable near‑term revenue visibility and reduces immediate spot exposure. This backlog enables production planning and helps bridge to higher throughput, supporting predictable cash generation when shipments occur.
Read all positive factors
UR-Energy (URE) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$856.64M
Dividend YieldN/A
Average Volume (3M)427.49K
Price to Earnings (P/E)―
Beta (1Y)2.25
Revenue Growth36.51%
EPS Growth-14.93%
CountryCA
Employees101
SectorEnergy
Sector Strength52
IndustryUranium
Share Statistics
EPS (TTM)-0.06
Shares Outstanding397,328,220
10 Day Avg. Volume663,835
30 Day Avg. Volume427,487
Financial Highlights & Ratios
PEG Ratio-0.39
Price to Book (P/B)6.61
Price to Sales (P/S)18.82
P/FCF Ratio-7.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$2.96Price Target Upside35.98% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.11
Revenue Forecast (FY)C$122.81M
UR-Energy Business Overview & Revenue Model
Company Description
Ur-Energy Inc. engages in the acquisition, exploration, development, and operation of uranium mineral properties. The company holds interests in 12 projects located in the United States. Its flagship property is the Lost Creek project comprising a...
How the Company Makes Money
UR-Energy generates revenue primarily through the sale of uranium concentrate produced from its mining operations. The company's revenue model is heavily reliant on long-term sales contracts and spot market sales, allowing it to capitalize on fluc...
UR-Energy Earnings Call Summary
Earnings Call Date:Mar 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational execution, meaningful resource and economic improvements at Lost Creek, tangible progress toward commissioning Shirley Basin, a strengthened balance sheet, and active exploration programs—these are significant positives. However, near-term risks remain: pending regulatory approvals for Shirley Basin (a gating item), weather-related operational disruptions, an outstanding product loan due in November, ongoing plant-level issues (fines management) that affect unit costs, and modest absolute profitability to date. On balance, the positive operational and resource developments, the improved project economics, and available funding outweigh the challenges and uncertainties noted.Positive Updates
Inventory Growth at Lost Creek
Ended 2025 with 406,000 pounds in inventory at Lost Creek, a 21% increase versus 2024.
Negative Updates
Regulatory Approvals Still Pending for Shirley Basin
Shirley Basin startup requires state environmental approvals (wellfield data package); approvals are 'on track' but remain a gating item and could be subject to delays due to stretched regulator resources.
Read all updates
Q4-2025 Updates
Positive
Negative
Inventory Growth at Lost Creek
Ended 2025 with 406,000 pounds in inventory at Lost Creek, a 21% increase versus 2024.
Read all positive updates
Company Guidance
Management guided that it expects to meet 2026 deliveries of 1,300,000 pounds using year‑end inventory (406,000 lbs, +21% vs. 2024) plus new production from Lost Creek and Shirley Basin (March 4 conversion inventory 379,000 lbs; 250,000‑lb loan due in November noted as a contingency), highlighted operational gains including a 65% YoY increase in pounds drummed, 40% increase in pounds captured, profit per pound up >$12, and an average cash cost per pound sold of $42.89 (including severance/ad valorem); Shirley Basin all‑in cost ~$50/lb. Key resource/economic metrics: Lost Creek M&I 11.9M lbs, inferred 10.4M lbs, mine life extended ~3 years, post‑tax net cash flow $442M, NPV@8% $244M, IRR ~66%; Shirley Basin M&I 8.8M lbs, 9‑yr mine life, post‑tax $119M, NPV@8% $82M, IRR 69%. Balance sheet and execution: $123.9M cash YE2025 ($115.3M as of 3/4/26) plus $18.5M expected from warrant exercises, positive gross profit $74k, workforce +55% (56 hires), 469 wells drilled at Shirley Basin, plan to start moving solution in March and ship resin in Q2, and ongoing North Hassel/Lost Creek South drilling programs (32 holes/33,000 ft to date at North Hassel, 50‑hole program to finish, 120‑hole program planned at Lost Creek South).UR-Energy Financial Statement Overview
Summary
Income Statement
Balance Sheet
Cash Flow
| Breakdown | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 27.21M | 33.71M | 17.68M | 19.00K | 16.00K |
| Gross Profit | -60.50M | -8.97M | -1.69M | -6.84M | -6.98M |
| EBITDA | -62.34M | -59.97M | -27.86M | -13.66M | -18.37M |
| Net Income | -74.90M | -53.19M | -30.66M | -17.14M | -22.94M |
Balance Sheet | |||||
| Total Assets | 272.46M | 194.13M | 128.38M | 107.89M | 120.84M |
| Cash, Cash Equivalents and Short-Term Investments | 123.86M | 76.06M | 59.70M | 33.00M | 46.19M |
| Total Debt | 68.22M | 1.24M | 6.54M | 11.08M | 12.34M |
| Total Liabilities | 195.01M | 61.33M | 53.51M | 45.40M | 51.45M |
| Stockholders Equity | 77.45M | 132.80M | 74.87M | 62.50M | 69.39M |
Cash Flow | |||||
| Free Cash Flow | -66.75M | -80.96M | -19.02M | -18.80M | -12.89M |
| Operating Cash Flow | -43.13M | -71.92M | -16.98M | -18.09M | -11.70M |
| Investing Cash Flow | -23.62M | -9.05M | -2.04M | -709.00K | -1.19M |
| Financing Cash Flow | 114.93M | 99.89M | 46.09M | 5.89M | 54.87M |
UR-Energy Technical Analysis
Positive
2.18
Price Trends
2.15
Positive
2.10
Positive
2.03
Positive
Market Momentum
>-0.01
Negative
55.31
Neutral
75.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:URE, the sentiment is Positive. The current price of 2.18 is above the 20-day moving average (MA) of 2.03, above the 50-day MA of 2.15, and above the 200-day MA of 2.03, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 55.31 is Neutral, neither overbought nor oversold. The STOCH value of 75.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:URE.
UR-Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
| ― | C$856.64M | -6.84 | -76.17% | ― | 36.51% | -14.93% | |
77 Outperform | $566.37M | 7.56 | 14.41% | 3.19% | 29.52% | 41.02% | |
61 Neutral | $546.75M | -169.84 | 1.44% | ― | 17.09% | 72.64% | |
56 Neutral | $4.43B | -39.51 | -13.16% | ― | 103.69% | -126.48% | |
55 Neutral | $6.72B | -149.77 | -7.09% | ― | 189.19% | -38.15% | |
54 Neutral | $3.54B | 56.06 | 18.29% | ― | 15.25% | 37.48% |
* Energy Sector Average
TSE:URE
UR-Energy
2.18
1.30
147.73%
SD
SandRidge Energy
15.38
6.52
73.51%
UEC
Uranium Energy
13.71
9.33
213.01%
LEU
Centrus Energy
180.17
119.79
198.39%
SMC
Summit Midstream
28.83
1.74
6.42%
UUUU
Energy Fuels
18.32
14.53
383.38%
UR-Energy Corporate Events
Private Placements and Financing
Ur-Energy Announces $100 Million Convertible Notes Offering
Positive
Dec 11, 2025
Ur-Energy has announced the pricing of a $100 million offering of 4.75% Convertible Senior Notes due 2031, aimed at raising capital for project development and general corporate purposes. The offering, which is expected to close on December 15, 20...
Private Placements and Financing
Ur-Energy Proposes $100 Million Convertible Notes Offering
Neutral
Dec 10, 2025
Ur-Energy Inc. has announced a proposed private placement of $100 million in Convertible Senior Notes due 2031, with an option for initial purchasers to acquire an additional $20 million. The proceeds from this offering are intended for project de...
Executive/Board Changes
Ur-Energy Announces Leadership Transition with New General Counsel
Neutral
Nov 25, 2025
Ur-Energy has announced the retirement of Penne Goplerud, its General Counsel and Corporate Secretary, effective January 6, 2026, as part of its long-term leadership succession planning. Alex Ritchie, who has extensive experience in natural resour...
Business Operations and StrategyFinancial Disclosures
Ur-Energy Advances Uranium Production with Strong Q3 Results
Positive
Nov 4, 2025
Ur-Energy has reported its Q3 2025 financial results, highlighting continued progress at its Lost Creek and Shirley Basin projects. The company produced 93,523 pounds of U3O8 and sold 110,000 pounds during the quarter, generating $6.3 million in r...
Business Operations and Strategy
Ur-Energy to Participate in 2025 Maxim Growth Summit
Neutral
Oct 16, 2025
Ur-Energy announced its participation in the 2025 Maxim Growth Summit in New York, where it will engage with institutional investors and participate in a panel discussion on critical mineral supply chain development. This involvement highlights Ur...
Business Operations and StrategyExecutive/Board Changes
Ur-Energy Announces Leadership Transition with New CEO Appointment
Positive
Oct 13, 2025
Ur-Energy announced the retirement of CEO John Cash, effective December 12, 2025, with President Matthew Gili set to succeed him. Cash, who has been with the company since 2007, will continue as Chairman of the Board and a strategic advisor. Under...
Business Operations and Strategy
Ur-Energy to Join TD Cowen’s Nuclear Industry Roundtable
Positive
Oct 7, 2025
Ur-Energy announced its participation in TD Cowen’s 10th Annual Nuclear Fuel Cycle and Next Generation Nuclear Roundtable, highlighting its engagement in the nuclear industry. This participation underscores Ur-Energy’s active role in t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: ―