Monday, November 02, 2020
Energy Fuels (UUUU)(EFR:CA)
Modestly Wider Loss Than Expected; Webcast on November 3
As of April 24, 2020, Noble Capital Markets research on Energy Fuels is published under ticker symbols (UUUU and EFR:CA). The price target is in USD and based on ticker symbol UUUU. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.
Energy Fuels is the largest uranium producer in the U.S. and holds more production capacity and uranium resources than any other U.S. producer. The Company also produces vanadium. Headquartered in Colorado, Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Facility in Wyoming, and the Alta Mesa ISR Facility in Texas. The producing White Mesa Mill is the only conventional uranium mill in the U.S. and has a licensed capacity of 8 million pounds of U3O8 per year. Nichols Ranch is in production and has a licensed capacity of 2 million pounds of U3O8 per year. Alta Mesa is currently on standby. Energy Fuels also owns several licensed and developed uranium and vanadium mines on standby and other projects in development.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Third quarter 2020 results. UUUU reported a 3Q loss of $8.9 million, or $(0.08) per share, compared to a loss of $6.9 million, or $(0.07) during the prior year period and our estimate of a loss of $6.9 million, or $(0.06) per share. The variance to our estimate was largely due to lower revenue and higher standby costs. The company had no sales of uranium or vanadium and all revenue was generated from processing ore received from a third-party uranium mine. Energy Fuels will host a webcast on Tuesday, November 3 at 4:00 pm ET to discuss quarterly results and give an update on the company’s plans and outlook.
Updating estimates. We have revised our 2020 estimate to a loss of $(0.28) per share from $(0.25) to reflect 3Q results and lower revenue. It is difficult to forecast forward earnings given a range of outcomes based on potential actions arising from the U.S. Nuclear Fuel Working Group (NFWG) recommendations, including potential government purchases of uranium for a reserve, which could have a …
This Company Sponsored 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.