Energy Fuels Inc. (UUUU)
XASE:UUUU
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Energy Fuels
(NYSE MKT:UUUU)
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Rating:53Neutral
Price Target:
$18.50
▼(-9.71% Downside)
Action:Reiterated
Date:05/09/26
The score is held down primarily by weak financial performance (large losses and ongoing cash burn) and only modest valuation support given negative earnings. Offsetting these, the earnings call highlighted strong liquidity and meaningful project economics, while technicals show a constructive trend with price above key moving averages.
Positive Factors
Strong Liquidity
Nearly $1B of working capital and similar available liquidity materially increases the company's ability to fund multi-year project builds, absorb delays, and seize feedstock or contract opportunities without immediate external financing. That buffer supports durable execution of capital-intensive Phase 2 work and ASM integration.
Negative Factors
Persistent Cash Burn
Sustained negative operating and free cash flow means the business consumes balance-sheet resources to fund operations and growth. Over months, continued cash burn forces reliance on financing or asset sales, raising dilution or refinancing risk and constraining the company's ability to self-fund capex and ramp projects.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Liquidity
Nearly $1B of working capital and similar available liquidity materially increases the company's ability to fund multi-year project builds, absorb delays, and seize feedstock or contract opportunities without immediate external financing. That buffer supports durable execution of capital-intensive Phase 2 work and ASM integration.
Read all positive factors
Energy Fuels Key Performance Indicators (KPIs)
Energy Fuels (UUUU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.51B
Dividend YieldN/A
Average Volume (3M)10.66M
Price to Earnings (P/E)―
Beta (1Y)1.31
Revenue Growth21.95%
EPS Growth29.05%
CountryUS
Employees1,260
SectorEnergy
Sector Strength52
IndustryUranium
Share Statistics
EPS (TTM)-0.30
Shares Outstanding249,867,000
10 Day Avg. Volume9,625,559
30 Day Avg. Volume10,660,152
Financial Highlights & Ratios
PEG Ratio-1.23
Price to Book (P/B)4.99
Price to Sales (P/S)51.33
P/FCF Ratio-31.12
Enterprise Value/Market Cap1.13
Enterprise Value/Revenue59.81
Enterprise Value/Gross Profit171.13
Enterprise Value/Ebitda-68.15
Forecast
1Y Price Target
$26.00Price Target Upside26.88% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.17
Revenue Forecast (FY)$147.86M
Energy Fuels Business Overview & Revenue Model
Company Description
Energy Fuels Inc., together with its subsidiaries, engages in the extraction, recovery, exploration, and sale of conventional and in situ uranium recovery in the United States. The company owns and operates the Nichols Ranch project, the Jane Doug...
How the Company Makes Money
Energy Fuels makes money primarily by selling mineral products it produces and processes, with revenue historically centered on uranium. Its uranium revenue is generated through (1) sales of uranium concentrates and/or processed uranium products i...
Energy Fuels Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 31, 2026
Earnings Call Sentiment Positive
The call was largely positive: management reported strong operational milestones (mined and processed uranium pounds, >1M lbs processed YTD), attractive project economics (Varamata and White Mesa Phase 2 NPVs and IRR), a robust balance sheet (~$957M working capital), initial commercial rare-earth outputs (first terbium) and progress on the ASM acquisition. Offsetting risks include project timing delays (Varamata investment agreement, Donald FID), a near-term mill maintenance shutdown and ore-supply bottleneck, higher operating/transaction costs, and uncertainty around timing of utility contracting for uranium. Overall, the positives (large NPVs, cash flexibility, production momentum, vertical integration) outweigh the execution and timing risks.Positive Updates
Strong Liquidity and Balance Sheet
Working capital of $957 million and total assets of $1.4 billion; over $950 million of available liquidity (includes $621 million net proceeds from convertible note offering), providing flexibility to advance projects and opportunistically sell into the market.
Negative Updates
Varamata Investment Agreement Delay
Signing of the government stability/investment agreement in Madagascar was delayed following a change in government; timeline visibility reduced and further in-country engagement required to finalize the agreement (no firm revised timing given).
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Liquidity and Balance Sheet
Working capital of $957 million and total assets of $1.4 billion; over $950 million of available liquidity (includes $621 million net proceeds from convertible note offering), providing flexibility to advance projects and opportunistically sell into the market.
Read all positive updates
Company Guidance
Management reiterated execution-focused 2026 guidance: prioritize White Mesa Phase 2 permitting, advance Phase 1B/1C construction (target operational late‑2027) and make a Donald FID soon, while maintaining mill processing guidance of 1.5–2.5M lb U3O8 for the year (already >1M processed by April) with planned maintenance end‑Q2/early‑Q3. Q1 metrics: 425k lb uranium mined (Pinyon Plain 375k lb at 1.12% avg grade), ~800k lb produced at the mill in Q1, 510k lb sold in Q1 (100k lb spot at $95.88/ lb, 110k lb under long‑term contracts at ≈$64/ lb), ending inventory ~2.2–2.25M lb (≈1.1M finished at $36/ lb and ≈1.1M in process), working capital $957M, total assets $1.4B and liquidity >$950M. Cost and financial guidance: all‑in mining/transport/processing $23–30/ lb, COGS expected to trend toward ~$30/ lb in 2026, Q1 EBITDA $8M and net loss $11M, and project economics highlighted by Varamata NPV $1.8B with >$500M/yr EBITDA and White Mesa Phase 2 CapEx $410M with NPV $1.9B, standalone EBITDA $311M and ~33% IRR; ASM acquisition (FIRB approved) is targeted to close in early July, pilot terbium production is ~1 kg/week, and Phase 2 aims for >6,000 t/yr NdPr when commissioned.Energy Fuels Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
43
Neutral
Cash Flow
29
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 84.86M | 65.92M | 78.11M | 37.93M | 12.52M | 3.18M |
| Gross Profit | 29.66M | 5.10M | 17.00M | 15.80M | -154.00K | -3.10M |
| EBITDA | -74.48M | -81.66M | -43.02M | 103.97M | -55.12M | 5.97M |
| Net Income | -70.18M | -85.63M | -47.77M | 99.86M | -59.85M | 1.54M |
Balance Sheet | ||||||
| Total Assets | 1.46B | 1.41B | 611.97M | 401.94M | 273.95M | 315.45M |
| Cash, Cash Equivalents and Short-Term Investments | 910.68M | 861.84M | 119.46M | 190.49M | 75.01M | 113.01M |
| Total Debt | 676.69M | 675.69M | 2.18M | 1.32M | 1.38M | 469.00K |
| Total Liabilities | 731.35M | 729.28M | 80.29M | 22.73M | 29.54M | 19.92M |
| Stockholders Equity | 723.27M | 678.40M | 527.79M | 375.25M | 240.43M | 291.57M |
Cash Flow | ||||||
| Free Cash Flow | -96.08M | -108.74M | -82.34M | -60.65M | -51.70M | -30.66M |
| Operating Cash Flow | -53.18M | -89.48M | -52.96M | -15.94M | -49.70M | -29.29M |
| Investing Cash Flow | -770.04M | -778.05M | -13.30M | -23.77M | -6.94M | 3.50M |
| Financing Cash Flow | 865.89M | 894.96M | 15.59M | 30.33M | 7.74M | 117.63M |
Energy Fuels Technical Analysis
Neutral
20.49
Price Trends
19.44
Negative
20.34
Negative
17.81
Positive
Market Momentum
-0.74
Positive
45.02
Neutral
37.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UUUU, the sentiment is Neutral. The current price of 20.49 is above the 20-day moving average (MA) of 20.01, above the 50-day MA of 19.44, and above the 200-day MA of 17.81, indicating a neutral trend. The MACD of -0.74 indicates Positive momentum. The RSI at 45.02 is Neutral, neither overbought nor oversold. The STOCH value of 37.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for UUUU.
Energy Fuels 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% | |
56 Neutral | $3.53B | 85.81 | 10.71% | ― | -4.05% | -48.51% | |
55 Neutral | $6.38B | -149.77 | -7.09% | ― | -69.78% | -15.01% | |
54 Neutral | $615.86M | -5.03 | -105.10% | ― | -7.62% | -88.28% | |
54 Neutral | $2.99B | -31.02 | -3.37% | 0.96% | -6.75% | -133.56% | |
53 Neutral | $4.51B | -97.91 | -10.23% | ― | 21.95% | 29.05% | |
52 Neutral | $451.46M | -10.97 | -17.35% | ― | 4.99% | 49.26% |
* Energy Sector Average
UUUU
Energy Fuels
18.40
12.95
237.61%
CLNE
Clean Energy Fuels
2.04
0.21
11.48%
URG
UR-Energy
1.63
0.70
75.27%
UEC
Uranium Energy
13.51
6.93
105.32%
LEU
Centrus Energy
183.36
55.50
43.41%
BTU
Peabody Energy Comm
25.90
11.59
80.95%
Energy Fuels Corporate Events
Business Operations and StrategyExecutive/Board Changes
Energy Fuels Announces Key Legal and Leadership Transition
Neutral
May 15, 2026
On May 11, 2026, Energy Fuels implemented a planned leadership transition as David C. Frydenlund moved from his position as Executive Vice President and Chief Legal Officer to become Executive Vice President, Strategic Acquisitions and Financings ...
Executive/Board ChangesShareholder Meetings
Energy Fuels Announces Planned Board Refresh with Director Departures
Neutral
Apr 17, 2026
On April 13, 2026, Energy Fuels Inc. announced that directors J. Birks Bovaird and Alexander G. Morrison notified the Board they would not seek re-election at the June 24, 2026, Annual Meeting of Shareholders. The company stated their decisions we...
M&A Transactions
Energy Fuels Updates Terms of ASM Acquisition Agreement
Neutral
Mar 18, 2026
On March 12, 2026, Energy Fuels Inc. and Australian Strategic Materials Limited entered into a Deed of Amendment and Restatement to change the consideration structure for Energy Fuels’ planned court-approved acquisition of ASM under an Austr...
Executive/Board Changes
Energy Fuels Announces Leadership Transition to New CEO
Positive
Mar 4, 2026
On February 26, 2026, Energy Fuels Inc. announced that President Ross Bhappu will be appointed President and Chief Executive Officer and join the board effective April 15, 2026, as part of a previously disclosed succession plan. On the same date, ...
Business Operations and Strategy
Energy Fuels Updates Pinyon Plain Mine Pre-Feasibility Study
Positive
Feb 26, 2026
Energy Fuels Inc. has released an updated pre-feasibility study for its Pinyon Plain Mine in Coconino County, Arizona, and a feasibility study for its Donald Rare Earths and Mineral Sands Project in Victoria, Australia. The Pinyon Plain technical ...
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.