UR-Energy Inc (URG)
XASE:URG
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UR-Energy
(NYSE MKT:URG)
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Rating:56Neutral
Price Target:
$2.00
▲(22.70% Upside)
Action:Reiterated
Date:06/05/26
The score is held back primarily by weak financial performance (large losses and deep negative cash flow with rising leverage), despite constructive technical momentum and a generally positive earnings-call outlook on operational ramp-up. Valuation signals remain constrained by negative earnings and the absence of a dividend yield.
Positive Factors
Production Ramp-Up
Material sequential and YoY production gains plus large finished inventory show the company can scale ISR operations and meet contract volumes. Sustained higher throughput builds commercial credibility, supports future revenue visibility, and enables operating leverage as fixed costs spread across more pounds.
Negative Factors
Weak Profitability & Cash Burn
Sizable ongoing losses and deeply negative operating and free cash flows indicate the business is not yet self-sustaining. Persistent cash burn increases reliance on external financing, raises dilution risk for shareholders, and narrows the margin for error if production or pricing setbacks occur.
Read all positive and negative factors
Positive Factors
Negative Factors
Production Ramp-Up
Material sequential and YoY production gains plus large finished inventory show the company can scale ISR operations and meet contract volumes. Sustained higher throughput builds commercial credibility, supports future revenue visibility, and enables operating leverage as fixed costs spread across more pounds.
Read all positive factors
UR-Energy (URG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$623.81M
Dividend YieldN/A
Average Volume (3M)10.41M
Price to Earnings (P/E)―
Beta (1Y)1.33
Revenue Growth-7.62%
EPS Growth-88.28%
CountryUS
Employees101
SectorEnergy
Sector Strength52
IndustryUranium
Share Statistics
EPS (TTM)-0.25
Shares Outstanding397,331,850
10 Day Avg. Volume13,873,164
30 Day Avg. Volume10,413,667
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 Cap0.95
Enterprise Value/Revenue18.95
Enterprise Value/Gross Profit150.69
Enterprise Value/Ebitda-7.27
Forecast
1Y Price Target
$2.29Price Target Upside40.79% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.12
Revenue Forecast (FY)$81.47M
UR-Energy Business Overview & Revenue Model
Company Description
Ur-Energy Inc. specializes in the full lifecycle of uranium mineral properties, encompassing their acquisition, geological exploration, subsequent development, and ongoing operational management. The company's portfolio comprises stakes in twelve ...
How the Company Makes Money
UR-Energy makes money primarily by producing and selling uranium concentrate (U3O8, commonly called yellowcake) from its ISR operations at the Lost Creek Project. Revenue is generated when the company delivers U3O8 under uranium sales agreements (...
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
18
Very Negative
Balance Sheet
44
Neutral
Cash Flow
22
Negative
| 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 | -81.13M | -67.26M | -50.07M | -27.68M | -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
Positive
1.63
Price Trends
1.68
Positive
1.64
Positive
1.59
Positive
Market Momentum
-0.02
Positive
51.40
Neutral
22.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For URG, the sentiment is Positive. The current price of 1.63 is below the 20-day moving average (MA) of 1.64, below the 50-day MA of 1.68, and above the 200-day MA of 1.59, indicating a bullish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 51.40 is Neutral, neither overbought nor oversold. The STOCH value of 22.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for URG.
UR-Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $555.62M | 6.89 | 15.09% | 3.19% | 25.58% | 18.12% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
56 Neutral | $623.81M | -7.12 | -105.10% | ― | -7.62% | -88.28% | |
56 Neutral | $3.20B | 57.64 | 10.71% | ― | -4.05% | -48.51% | |
55 Neutral | $5.46B | -55.71 | -7.09% | ― | -69.78% | -21.42% | |
53 Neutral | $607.72M | -45.82 | -1.23% | ― | 28.21% | 92.42% | |
46 Neutral | $3.76B | -51.86 | -10.23% | ― | 21.95% | 29.05% |
* Energy Sector Average
URG
UR-Energy
1.70
0.62
57.41%
SD
SandRidge Energy
14.21
2.93
25.95%
UEC
Uranium Energy
11.77
5.14
77.53%
LEU
Centrus Energy
176.65
3.62
2.09%
SMC
Summit Midstream
28.92
2.58
9.79%
UUUU
Energy Fuels
15.64
9.76
165.99%
UR-Energy Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Ur-Energy Shareholders Back Board, Auditor and Incentive Plan
Positive
Jun 5, 2026
Ur-Energy Inc. held its Annual General and Special Meeting of Shareholders on June 4, 2026, where shareholders voted on five proposals, with 70.84% of outstanding common shares represented. All nominated directors were elected, BDO USA, P.C. was r...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Ur-Energy Expands At-The-Market Equity Offering Capacity
Positive
Apr 16, 2026
On April 6, 2026, Ur-Energy filed a new shelf registration statement on Form S-3, which became effective on April 16, 2026, and simultaneously updated the prospectus supplement for its existing at-the-market equity program with B. Riley Securities...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Ur-Energy Reports Strong 2025 Results and Growth Plans
Positive
Mar 12, 2026
On March 10, 2026, Ur-Energy reported its year-end 2025 results, highlighting a 65% increase in U3O8 pounds drummed at Lost Creek to 410,440 pounds and stronger plant performance, which reduced per-pound costs and improved profit margins. The comp...
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.