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Energy Fuels
(NYSE MKT:UUUU)
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Rating:48Neutral
Price Target:
$11.50
▼(-43.88% Downside)
Action:Reiterated
Date:06/27/26
Overall score is held back primarily by weak financial performance—large operating losses, negative returns, and persistent cash burn alongside higher leverage—and by bearish technicals with the stock trading below key moving averages and a negative MACD. These are partially offset by a relatively positive earnings-call outlook, including reiterated processing guidance, improving loss trend, strong liquidity, and attractive long-term project economics, though execution and timing risks remain meaningful.
Positive Factors
Vertical integration & White Mesa mill capability
Owning a U.S.-based mill that can process both uranium and rare-earth feedstock creates durable competitive advantage: it captures processing margins, supports tolling revenue, provides supply-chain security for domestic utilities, and enables optionality to pivot throughput between uranium and REE as markets and contracts evolve.
Negative Factors
Negative operating and free cash flow
Persistent cash burn is a structural risk: negative OCF and deeply negative FCF increase reliance on external financing and asset monetization, constrain reinvestment, and heighten dilution or covenant pressure if cash generation does not improve as projects scale or commodity prices soften.
Read all positive and negative factors
Positive Factors
Negative Factors
Vertical integration & White Mesa mill capability
Owning a U.S.-based mill that can process both uranium and rare-earth feedstock creates durable competitive advantage: it captures processing margins, supports tolling revenue, provides supply-chain security for domestic utilities, and enables optionality to pivot throughput between uranium and REE as markets and contracts evolve.
Read all positive factors
Energy Fuels Key Performance Indicators (KPIs)
Any
Operating Income by Segment
Breaks down operating income across the company’s business lines (for Energy Fuels: uranium, vanadium, milling/processing and related services). Reveals which segments actually generate profit or losses, where margins are strongest, and how sensitive earnings are to commodity prices and operating costs — important for judging sustainability of cash flow and whether one business is subsidizing another.
Breaks down operating income across the company’s business lines (for Energy Fuels: uranium, vanadium, milling/processing and related services). Reveals which segments actually generate profit or losses, where margins are strongest, and how sensitive earnings are to commodity prices and operating costs — important for judging sustainability of cash flow and whether one business is subsidizing another.
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The Fly
The FlyEnergy Fuels (UUUU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.92B
Dividend YieldN/A
Average Volume (3M)9.19M
Price to Earnings (P/E)―
Beta (1Y)1.53
Revenue Growth21.95%
EPS Growth29.05%
CountryUS
Employees1,069
SectorEnergy
Sector Strength52
IndustryUranium
Share Statistics
EPS (TTM)-0.30
Shares Outstanding249,867,000
10 Day Avg. Volume6,036,412
30 Day Avg. Volume9,194,769
Financial Highlights & Ratios
PEG Ratio-1.22
Price to Book (P/B)4.99
Price to Sales (P/S)51.33
P/FCF Ratio-31.12
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$23.25Price Target Upside13.47% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.18
Revenue Forecast (FY)$148.36M
Energy Fuels Business Overview & Revenue Model
Company Description
Energy Fuels Inc. and its subsidiaries are actively engaged in the exploration, extraction, recovery, and sale of uranium throughout the United States, employing both conventional and in-situ methods. The company's operational assets include the N...
How the Company Makes Money
Energy Fuels makes money primarily by producing and selling uranium products and, increasingly, by producing and selling rare earth products and related services tied to its processing infrastructure.
Key revenue streams include:
1) Uranium sales...
Energy Fuels Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 31, 2026
Earnings Call Sentiment Positive
The call was largely positive: management reported strong operational milestones (mined and processed uranium pounds, >1M lbs processed YTD), attractive project economics (Varamata and White Mesa Phase 2 NPVs and IRR), a robust balance sheet (~$957M working capital), initial commercial rare-earth outputs (first terbium) and progress on the ASM acquisition. Offsetting risks include project timing delays (Varamata investment agreement, Donald FID), a near-term mill maintenance shutdown and ore-supply bottleneck, higher operating/transaction costs, and uncertainty around timing of utility contracting for uranium. Overall, the positives (large NPVs, cash flexibility, production momentum, vertical integration) outweigh the execution and timing risks.Positive Updates
Strong Liquidity and Balance Sheet
Working capital of $957 million and total assets of $1.4 billion; over $950 million of available liquidity (includes $621 million net proceeds from convertible note offering), providing flexibility to advance projects and opportunistically sell into the market.
Negative Updates
Varamata Investment Agreement Delay
Signing of the government stability/investment agreement in Madagascar was delayed following a change in government; timeline visibility reduced and further in-country engagement required to finalize the agreement (no firm revised timing given).
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Liquidity and Balance Sheet
Working capital of $957 million and total assets of $1.4 billion; over $950 million of available liquidity (includes $621 million net proceeds from convertible note offering), providing flexibility to advance projects and opportunistically sell into the market.
Read all positive updates
Company Guidance
Management reiterated execution-focused 2026 guidance: prioritize White Mesa Phase 2 permitting, advance Phase 1B/1C construction (target operational late‑2027) and make a Donald FID soon, while maintaining mill processing guidance of 1.5–2.5M lb U3O8 for the year (already >1M processed by April) with planned maintenance end‑Q2/early‑Q3. Q1 metrics: 425k lb uranium mined (Pinyon Plain 375k lb at 1.12% avg grade), ~800k lb produced at the mill in Q1, 510k lb sold in Q1 (100k lb spot at $95.88/ lb, 110k lb under long‑term contracts at ≈$64/ lb), ending inventory ~2.2–2.25M lb (≈1.1M finished at $36/ lb and ≈1.1M in process), working capital $957M, total assets $1.4B and liquidity >$950M. Cost and financial guidance: all‑in mining/transport/processing $23–30/ lb, COGS expected to trend toward ~$30/ lb in 2026, Q1 EBITDA $8M and net loss $11M, and project economics highlighted by Varamata NPV $1.8B with >$500M/yr EBITDA and White Mesa Phase 2 CapEx $410M with NPV $1.9B, standalone EBITDA $311M and ~33% IRR; ASM acquisition (FIRB approved) is targeted to close in early July, pilot terbium production is ~1 kg/week, and Phase 2 aims for >6,000 t/yr NdPr when commissioned.Energy Fuels Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
43
Neutral
Cash Flow
29
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 84.86M | 65.92M | 78.11M | 37.93M | 12.52M | 3.18M |
| Gross Profit | 29.66M | 5.10M | 17.00M | 15.80M | -154.00K | -3.10M |
| EBITDA | -70.85M | -81.66M | -43.02M | 103.97M | -55.12M | 5.97M |
| Net Income | -70.18M | -85.63M | -47.77M | 99.86M | -59.85M | 1.54M |
Balance Sheet | ||||||
| Total Assets | 1.46B | 1.41B | 611.97M | 401.94M | 273.95M | 315.45M |
| Cash, Cash Equivalents and Short-Term Investments | 910.68M | 861.84M | 119.46M | 190.49M | 75.01M | 113.01M |
| Total Debt | 677.49M | 675.69M | 2.18M | 1.32M | 1.38M | 469.00K |
| Total Liabilities | 731.35M | 729.28M | 80.29M | 22.73M | 29.54M | 19.92M |
| Stockholders Equity | 723.27M | 678.40M | 527.79M | 375.25M | 240.43M | 291.57M |
Cash Flow | ||||||
| Free Cash Flow | -96.08M | -108.74M | -82.34M | -60.65M | -51.70M | -30.66M |
| Operating Cash Flow | -53.18M | -89.48M | -52.96M | -15.94M | -49.70M | -29.29M |
| Investing Cash Flow | -770.04M | -778.05M | -13.30M | -23.77M | -6.94M | 3.50M |
| Financing Cash Flow | 865.89M | 894.96M | 15.59M | 30.33M | 7.74M | 117.63M |
Energy Fuels Technical Analysis
Negative
20.49
Price Trends
16.29
Negative
18.06
Negative
18.31
Negative
Market Momentum
-1.15
Positive
28.24
Positive
8.97
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UUUU, the sentiment is Negative. The current price of 20.49 is above the 20-day moving average (MA) of 13.91, above the 50-day MA of 16.29, and above the 200-day MA of 18.31, indicating a bearish trend. The MACD of -1.15 indicates Positive momentum. The RSI at 28.24 is Positive, neither overbought nor oversold. The STOCH value of 8.97 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for UUUU.
Energy Fuels Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
56 Neutral | $517.53M | -5.21 | -17.35% | ― | 4.99% | 49.26% | |
56 Neutral | $496.66M | -4.97 | -105.10% | ― | -7.62% | -88.28% | |
56 Neutral | $2.89B | 47.43 | 10.71% | ― | -4.05% | -48.51% | |
55 Neutral | $4.62B | -41.88 | -8.08% | ― | -69.78% | -21.42% | |
50 Neutral | $2.76B | -22.58 | -3.37% | 0.96% | -6.75% | -133.56% | |
48 Neutral | $2.92B | -37.77 | -10.23% | ― | 21.95% | 29.05% |
* Energy Sector Average
UUUU
Energy Fuels
11.49
2.28
24.76%
CLNE
Clean Energy Fuels
2.38
0.33
16.10%
URG
UR-Energy
1.23
-0.13
-9.56%
UEC
Uranium Energy
9.28
1.28
16.00%
LEU
Centrus Energy
156.05
-67.95
-30.33%
BTU
Peabody Energy Comm
22.44
6.67
42.30%
Energy Fuels Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingShareholder Meetings
Energy Fuels Advances Strategic Ara VAC Acquisition Financing
Positive
Jun 26, 2026
On June 23, 2026, Energy Fuels Inc. entered into a complex merger agreement to acquire Ara VAC Group entities through a series of mergers, with consideration comprising $718 million in cash, up to 65,853,000 common shares and potential preferred s...
Business Operations and StrategyM&A TransactionsRegulatory Filings and Compliance
Energy Fuels Details Proposed Vacuumschmelze Acquisition Plans
Positive
Jun 23, 2026
Energy Fuels Inc. has prepared an investor presentation tied to its proposed acquisition of Vacuumschmelze GmbH Co. KG and its related group companies from private equity firm Ara Partners. The materials, furnished as part of a regulatory disclos...
Business Operations and StrategyExecutive/Board Changes
Energy Fuels Announces Key Legal and Leadership Transition
Neutral
May 15, 2026
On May 11, 2026, Energy Fuels implemented a planned leadership transition as David C. Frydenlund moved from his position as Executive Vice President and Chief Legal Officer to become Executive Vice President, Strategic Acquisitions and Financings ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.