Noble Capital lowered the firm’s price target on Energy Fuels to $10 from $13 and keeps an Outperform rating on the shares. Energy Fuels has made huge progress in its Rare Earth Element strategy, but Noble Capital had hoped that the uranium and vanadium economics would have reached a point where sales would help fund REE costs, the analyst tells investors in a research note. The firm believes the story remains intact and is encouraged by slight improvements in pricing and the willingness of buyers to start signing contracts.
Published first on TheFly
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