UR-Energy Inc (TSE:URE)
XASE:URE
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Positive Factors
Operational ramp at Lost Creek
Sustained sequential production gains indicate the plant and wellfields are progressing through the ramp phase. Durable higher throughput supports the company’s ability to meet contracted deliveries, spreads fixed costs over more pounds, and underpins longer-term margin improvement if operational trends persist.
Negative Factors
Persistent negative cash flow and losses
Ongoing large operating and free cash outflows mean the business remains dependent on external funding until sustained positive cash generation is achieved. This chronic cash burn undermines financial flexibility, can force dilutive capital raises, and constrains the pace of reinvestment and reserve development over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Operational ramp at Lost Creek
Sustained sequential production gains indicate the plant and wellfields are progressing through the ramp phase. Durable higher throughput supports the company’s ability to meet contracted deliveries, spreads fixed costs over more pounds, and underpins longer-term margin improvement if operational trends persist.
Read all positive factors
UR-Energy (URE) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$892.64M
Dividend YieldN/A
Average Volume (3M)399.92K
Price to Earnings (P/E)―
Beta (1Y)2.20
Revenue Growth-7.81%
EPS Growth-86.21%
CountryCA
Employees101
SectorEnergy
Sector Strength52
IndustryUranium
Share Statistics
EPS (TTM)-0.25
Shares Outstanding397,331,850
10 Day Avg. Volume327,073
30 Day Avg. Volume399,916
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$3.19Price Target Upside43.49% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.16
Revenue Forecast (FY)C$112.42M
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:May 08, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call communicated clear operational progress (material increases in resin capture, higher monthly drumming, lower cash cost per pound, sizable inventory and a strong cash position) and a near-term commercial milestone with Shirley Basin beginning production. These positives are tempered by operational challenges at Lost Creek related to fines that require expedited filtration capital, a widened CAPEX range for water treatment, and a lumpy, second-half-weighted delivery schedule that depends on continued successful ramp-up. On balance, the company presented multiple concrete improvements and a solid balance sheet while acknowledging manageable execution risks.Positive Updates
Strong Q1 Production Momentum
Captured 110,000 pounds on resin in Q1 (up 41% sequentially and up 48% versus 2025); drummed and packaged 96,000 pounds during the quarter; drummed 57,000 pounds in April (highest monthly total since 2023 ramp-up).
Negative Updates
Flow Rate Impacts from Fines at Lost Creek
Recovered flow rates continue to be negatively impacted by fine particles (described as iron mineralization) entering the plant, creating operational constraints and necessitating additional filtration (sand filters) to manage the issue; this is cited as the main hindrance to faster ramp-up.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Q1 Production Momentum
Captured 110,000 pounds on resin in Q1 (up 41% sequentially and up 48% versus 2025); drummed and packaged 96,000 pounds during the quarter; drummed 57,000 pounds in April (highest monthly total since 2023 ramp-up).
Read all positive updates
Company Guidance
The company guided to continued ramp-up in 2026 with tangible metrics: in Q1 Ur‑Energy captured 110,000 lbs on resin (up 41% QoQ and 48% vs. 2025), drummed/packaged 96,000 lbs, sold 55,000 lbs, and reports >417,000 lbs of finished inventory at the conversion facility (a 14% increase since year‑end), while ending the quarter with about $123M unrestricted cash (entering Q2 with ~$122M). Cost and pricing guidance: average cash cost per lb sold fell 13% QoQ to $30/lb (inclusive of ad valorem and severance tax), average realized price in Q1 was $71/lb (up 12% YoY), and the company has committed to deliver 1.3M lbs in 2026 with expected realized revenue of $83.2M (an implied blended price of $64/lb). Operational milestones and capex: Lost Creek drummed 57,000 lbs in April (its best month since the 2023 ramp), a sand‑filter system is on schedule to come online this quarter to address fines, Shirley Basin began initial mining and capturing uranium on resin with resin shipments to Lost Creek expected this summer pending a pre‑operational inspection, 2026 Shirley Basin capex commitment remains $25.5M (with just under $15M remaining to spend) and Lost Creek water‑treatment upgrades are forecast at $25M–$33M. Deliveries are heavily second‑half weighted and management says production plans support meeting 2026 delivery commitments as the year progresses.UR-Energy Financial Statement Overview
Summary
Income Statement
Balance Sheet
Cash Flow
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 31.14M | 27.21M | 33.71M | 17.68M | 19.00K | 16.00K |
| Gross Profit | 3.92M | 74.00K | -8.97M | -1.69M | -6.84M | -6.98M |
| EBITDA | -75.64M | -67.26M | -59.97M | -27.86M | -13.66M | -18.37M |
| Net Income | -92.78M | -74.90M | -53.19M | -30.66M | -17.14M | -22.94M |
Balance Sheet | ||||||
| Total Assets | 291.65M | 272.46M | 194.13M | 128.38M | 107.89M | 120.84M |
| Cash, Cash Equivalents and Short-Term Investments | 123.25M | 123.86M | 76.06M | 59.70M | 33.00M | 46.19M |
| Total Debt | 69.25M | 68.22M | 1.24M | 6.54M | 11.08M | 12.34M |
| Total Liabilities | 208.77M | 195.01M | 61.33M | 53.51M | 45.40M | 51.45M |
| Stockholders Equity | 82.88M | 77.45M | 132.80M | 74.87M | 62.50M | 69.39M |
Cash Flow | ||||||
| Free Cash Flow | -94.60M | -66.75M | -80.96M | -19.02M | -18.80M | -12.89M |
| Operating Cash Flow | -62.51M | -43.13M | -71.92M | -16.98M | -18.09M | -11.70M |
| Investing Cash Flow | -31.95M | -23.62M | -9.05M | -2.04M | -709.00K | -1.19M |
| Financing Cash Flow | 143.53M | 114.93M | 99.89M | 46.09M | 5.89M | 54.87M |
UR-Energy Technical Analysis
Neutral
2.22
Price Trends
2.22
Positive
2.26
Negative
2.15
Positive
Market Momentum
-0.03
Positive
47.84
Neutral
41.98
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:URE, the sentiment is Neutral. The current price of 2.22 is below the 20-day moving average (MA) of 2.33, above the 50-day MA of 2.22, and above the 200-day MA of 2.15, indicating a neutral trend. The MACD of -0.03 indicates Positive momentum. The RSI at 47.84 is Neutral, neither overbought nor oversold. The STOCH value of 41.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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$892.64M | -6.79 | -105.10% | ― | -7.81% | -86.21% | |
74 Outperform | $522.76M | 7.02 | 15.09% | 3.19% | 25.58% | 18.12% | |
60 Neutral | $580.67M | -43.59 | -1.23% | ― | 28.21% | 92.42% | |
56 Neutral | $3.54B | 60.51 | 10.71% | ― | -4.05% | -48.51% | |
54 Neutral | $6.59B | -80.45 | -7.09% | ― | -69.78% | -15.01% | |
53 Neutral | $4.59B | -61.14 | -10.23% | ― | 21.95% | 29.05% |
* Energy Sector Average
TSE:URE
UR-Energy
2.23
1.11
99.11%
SD
SandRidge Energy
14.67
5.31
56.81%
UEC
Uranium Energy
13.77
7.84
132.21%
LEU
Centrus Energy
182.47
55.55
43.77%
SMC
Summit Midstream
26.65
1.51
6.01%
UUUU
Energy Fuels
18.22
13.33
272.60%
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: ―