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Energy Fuels Inc. (UUUU)
Full Year Loss Greater than Expected Due to Inventory Impairment
Energy Fuels Inc together with its subsidiary is engaged in the extraction and recovery of uranium properties in the United States. The company operates in two segments, ISR Uranium and Conventional Uranium. It conducts its ISR activities through its Nichols Ranch Project, located in northeast Wyoming. It conducts its conventional uranium extraction and recovery activities through its White Mesa Mill. In addition, the group also owns uranium and uranium, vanadium properties and projects in various stages of exploration, permitting, and evaluation. Energy Fuels derives most of the income through the sale of Uranium.
Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Full year 2019 results. Energy Fuels reported fourth quarter and full year 2019 losses per share of ($0.10) and ($0.40), respectively. We had predicted fourth quarter and full year losses of ($0.06) and ($0.36) per share. The variance to our estimate was due, in part, to an inventory impairment charge that was partially offset by higher revenues and lower expense.
Government purchase program. President Trump's 2021 budget proposal includes $150 million to fund a strategic uranium reserve to provide assurance of uranium supplies and to support U.S. nuclear fuel cycle capabilities through the domestic production and conversion of uranium. Assuming no changes by the time an appropriations bill is signed into law by September 30, purchases could begin in fiscal year 2021 which begins October 1. Industry participants are awaiting more details on the program and...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.