B. Riley starts Energy Fuels at Buy as energy transition play

B. Riley analyst Matthew Key initiated coverage of Energy Fuels with a Buy rating and $9 price target. Energy Fuels is an established producer of uranium, vanadium, and rare earth elements, the analyst tells investors in a research note. A key differentiator is the company’s vanadium and rare earth separation business, which has the potential to generate robust earnings once Energy Fuels’ achieves adequate monazite supply in the coming years, says the firm. It sees the company scaling up to $320M in adjusted EBITDA across all segments.