Energy Fuels (UUUU) AI Stock Analysis

• Market Cap: $4.57B
• Dividend Yield: N/A
• Average Volume (3M): 8.79M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.31
• Revenue Growth: 103.69%
• EPS Growth: -126.48%
• Country: US
• Employees: 1,260
• Sector: Energy
• Sector Strength: 52
• Industry: Uranium
• EPS (TTM): -0.07
• Shares Outstanding: 237,286,770
• 10 Day Avg. Volume: 10,570,690
• 30 Day Avg. Volume: 8,792,449
• PEG Ratio: 0.13
• Price to Book (P/B): 1.67
• Price to Sales (P/S): 11.29
• P/FCF Ratio: -10.71
• Enterprise Value/Market Cap: 0.73
• Enterprise Value/Revenue: 42.43
• Enterprise Value/Gross Profit: -822.52
• Enterprise Value/Ebitda: -36.85
• 1Y Price Target: $20.06
• Price Target Upside: 3.31% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: $20.50 ▲(5.56% Upside)

The score is driven by a strong balance sheet and improving production outlook from the latest earnings call, plus solid bullish technical momentum. Offsetting these positives are weak current fundamentals—sharp profitability deterioration and persistent negative operating/free cash flow—along with limited valuation support due to losses and no dividend.

Positive Factors

Balance sheet strength and liquidity

A very strong liquidity position and essentially no leverage provide durable financial flexibility to fund capital-intensive mine development, rare-earth scale-up and operating volatility. This reduces near‑term refinancing risk and supports multi-year project execution and strategic optionality.

Integrated rare earth processing and large resource base

Owning White Mesa Mill plus a long-life Vara Mada mineral sands project creates an integrated feedstock-to-processing chain. Multi-decade reserves with planned monazite flows to an established US processing asset support durable REE supply capabilities and strategic differentiation versus peers.

Ramped uranium production and lower unit cost trajectory

Material increases in production scale and targeted lower unit costs support sustained margin improvement if maintained. Higher output from Pinyon Plain secures supply volumes for contracts and monetization, improving long-term cash generation potential as operating scale reduces per‑unit costs.

Negative Factors

Persistent negative operating and free cash flow

Ongoing negative operating and free cash flows increase dependence on external financing to fund growth and operations. If persistent, cash burn can force dilutive equity raises or higher-cost debt, weakening shareholder returns and limiting ability to self-fund multi-year project builds or sustain capital programs.

Deteriorated profitability and large net losses

Sharp deterioration to negative gross profit and large net losses signals weak near-term profitability despite revenue gains. Continued negative margins threaten ROE and reinvestment capacity, raise break-even risk for new projects, and can constrain long-term capital allocation and investor confidence.

Political and execution risk in Madagascar project

Material political, permitting and investment‑agreement uncertainty in Madagascar imperils the Vara Mada timeline and feedstock availability. Delays or added conditions could increase capex, postpone monazite deliveries to White Mesa, and materially change projected long‑term cash flows and integration benefits.

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 Dough property, and the Hank project located in Wyoming; and the Alta Mesa project located in Texas, as well as White Mesa Mill in Utah. It also holds interests in uranium and uranium/vanadium properties and projects in various stages of exploration, permitting, and evaluation located in Utah, Wyoming, Arizona, New Mexico, and Colorado. The company was formerly known as Volcanic Metals Exploration Inc. and changed its name to Energy Fuels Inc. in May 2006. Energy Fuels Inc. was incorporated in 1987 and is headquartered in Lakewood, Colorado.

How the Company Makes Money

Energy Fuels generates revenue primarily through the sale of uranium and rare earth elements. The company employs a revenue model centered on the production and sale of uranium concentrate, which is sold to nuclear power utilities under long-term contracts or in spot markets. Additionally, the company has ventured into the rare earth element sector, capitalizing on the growing demand for these materials in technologies such as electric vehicles and renewable energy systems. Key revenue streams include the sales of uranium from its mining operations, processing fees for toll milling of third-party uranium, and potential revenues from the sale of rare earth products. Strategic partnerships, such as collaborations with other mining companies and government entities, further bolster their market position and revenue potential, especially in the context of the increasing focus on domestic supply chains for critical minerals.

Energy Fuels Financial Statement Overview

Summary

Energy Fuels has shown significant revenue growth but remains unprofitable with negative cash flows. The balance sheet is strong with low leverage, but operational inefficiencies need improvement for sustainable profitability.

Income Statement

Energy Fuels has demonstrated significant revenue growth, increasing from $12.5M in 2022 to $78.1M in 2024. However, the company remains unprofitable, with a negative net income of $47.8M in 2024. Margins are concerning, with a gross profit margin of approximately 28.4% in 2024 and negative EBIT and EBITDA margins, indicating operational inefficiencies.

Balance Sheet

The balance sheet shows a strong equity base with a stockholders' equity of $527.8M in 2024, reflecting a solid equity ratio of 86.3%. The debt-to-equity ratio is low at 0.004, indicating minimal leverage, which reduces financial risk. However, the company has yet to achieve a positive ROE due to persistent losses.

Cash Flow

Energy Fuels has faced challenges in cash flow generation, with a negative free cash flow of $74.9M in 2024. Operating cash flows have also been negative, and the operating cash flow to net income ratio indicates that cash losses are significant compared to net income. The free cash flow to net income ratio is negative, highlighting the company's struggle to convert earnings into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	78.74M	78.11M	37.93M	12.52M	3.18M	1.66M
Gross Profit	-4.06M	17.00M	15.80M	-154.00K	-3.10M	1.66M
EBITDA	-90.66M	-43.02M	103.97M	-55.12M	5.97M	-22.31M
Net Income	-97.77M	-47.77M	99.86M	-59.85M	1.54M	-27.78M
Balance Sheet
Total Assets	758.32M	611.97M	401.94M	273.95M	315.45M	183.24M
Cash, Cash Equivalents and Short-Term Investments	235.26M	119.46M	190.49M	75.01M	113.01M	22.41M
Total Debt	0.00	2.18M	1.32M	1.38M	469.00K	758.00K
Total Liabilities	50.75M	80.29M	22.73M	29.54M	19.92M	25.69M
Stockholders Equity	703.25M	527.79M	375.25M	240.43M	291.57M	153.81M
Cash Flow
Free Cash Flow	-133.02M	-82.34M	-60.65M	-51.70M	-30.66M	-32.80M
Operating Cash Flow	-109.91M	-52.96M	-15.94M	-49.70M	-29.29M	-32.18M
Investing Cash Flow	-107.38M	-13.30M	-23.77M	-6.94M	3.50M	3.71M
Financing Cash Flow	239.58M	15.59M	30.33M	7.74M	117.63M	36.45M

Energy Fuels Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 19.42
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UUUU, the sentiment is Positive. The current price of 19.42 is above the 20-day moving average (MA) of 16.12, above the 50-day MA of 15.69, and above the 200-day MA of 11.09, indicating a bullish trend. The MACD of 1.01 indicates Negative momentum. The RSI at 66.78 is Neutral, neither overbought nor oversold. The STOCH value of 82.12 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for UUUU.

Energy Fuels Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LEU	68 Neutral	$5.63B	45.33	51.74%	―	15.25%	37.48%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
UUUU	63 Neutral	$4.57B	-40.05	-18.17%	―	103.69%	-126.48%
UEC	61 Neutral	$7.71B	-87.46	-7.29%	―	189.19%	-38.15%
BTU	61 Neutral	$4.15B	-115.77	-0.87%	0.96%	-7.21%	-106.39%
URG	50 Neutral	$635.80M	-7.87	-65.17%	―	138.94%	-62.94%
CLNE	43 Neutral	$471.50M	-2.35	-31.94%	―	2.59%	-192.73%

Energy Fuels Corporate Events

Energy Fuels advances Vara Mada rare earths project

Energy Fuels has released a new NI 43-101 and S-K 1300-compliant Technical Report and feasibility study, effective June 30, 2025, for the Vara Mada (Toliara) mineral sands and rare earths project in Madagascar, detailing a 38-year open-pit operation based on the Ranobe deposit with 904 Mt of proven and probable reserves grading 6.1% total heavy minerals. The staged development envisages ramping mining from 12.6 Mtpa to 25 Mtpa and producing on average 959 kt of ilmenite, 66 kt of zircon, 8 kt of rutile and 24 kt of monazite per year, supported by substantial new mine, processing, logistics and port infrastructure and an export facility near Toliara. The study outlines robust economics, including a post-tax real NPV (10%) of $1.415 billion, a 22.1% internal rate of return and life-of-mine free cash flow of about $10.0 billion, underpinned by supportive forecast markets for ilmenite, zircon and monazite and flexible product mix capabilities. Monazite is expected to be transferred to Energy Fuels’ White Mesa Mill for rare earth oxide production, while ilmenite and zircon will be targeted at pigment, slag and ceramics markets in Asia, Europe and other regions, reinforcing the company’s integrated rare earth and mineral sands strategy. On the permitting and social front, the government’s November 28, 2024 lifting of the project suspension and the December 5, 2024 memorandum of understanding on fiscal terms paved the way for renewed development activities, though progress still hinges on securing an investment agreement with Madagascar’s government, completing updated environmental and social assessments, adding monazite to the exploitation permit and obtaining long-term land access and leases for key infrastructure. Capital costs are estimated at $769 million for Stage 1 and $142 million for Stage 2 (plus $121 million pre-FID), with average operating costs of $4.95 per tonne mined and $112.5 per tonne of product, suggesting competitive cost positioning in global mineral sands and rare earth supply chains and potentially significant long-term benefits and sensitivities for local communities, government revenues and downstream customers.

The most recent analyst rating on (UUUU) stock is a Buy with a $26.75 price target. To see the full list of analyst forecasts on Energy Fuels stock, see the UUUU Stock Forecast page.

Energy Fuels Director Ivy Estabrooke Resigns

On October 24, 2025, Ivy V. Estabrooke announced her resignation as a Director of Energy Fuels Inc., effective October 29, 2025. Her departure is not due to any disagreements with the company’s operations, policies, or practices, indicating a smooth transition without internal conflicts.

The most recent analyst rating on (UUUU) stock is a Hold with a $20.50 price target. To see the full list of analyst forecasts on Energy Fuels stock, see the UUUU Stock Forecast page.