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UR-Energy
(URG)
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Rating:47Neutral
Price Target:
$0.80
▼(-45.74% Downside)
Action:Reiterated
Date:10/23/26
The score is primarily weighed down by weak financial performance (large losses, heavy negative operating/free cash flow, and rising leverage) and a bearish technical setup with the stock trading below all key moving averages. The latest earnings call provides a partial offset via improving production metrics, solid liquidity, and visible operational progress, but near-term results remain highly dependent on continued ramp execution, cost improvement, and permitting.
Positive Factors
Production and sales growth
Higher production, shipments, and contracted sales demonstrate improving operating execution at Lost Creek and support revenue growth. If these gains persist as new capacity ramps, greater throughput should strengthen the company’s ability to fulfill contracts and spread fixed costs.
Negative Factors
Persistent negative cash generation
Deeply negative operating and free cash flow show that current operations do not yet fund production, development, and investment needs. Continued cash burn increases dependence on financing or asset monetization and could constrain the pace of expansion if performance does not improve.
Read all positive and negative factors
Positive Factors
Negative Factors
Production and sales growth
Higher production, shipments, and contracted sales demonstrate improving operating execution at Lost Creek and support revenue growth. If these gains persist as new capacity ramps, greater throughput should strengthen the company’s ability to fulfill contracts and spread fixed costs.
Read all positive factors
UR-Energy (URG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$322.59M
Dividend YieldN/A
Average Volume (3M)9.72M
Price to Earnings (P/E)―
Beta (1Y)1.28
Revenue Growth-11.17%
EPS Growth-39.84%
CountryUS
Employees157
SectorEnergy
Sector Strength52
IndustryUranium
Share Statistics
EPS (TTM)-0.23
Shares Outstanding397,863,700
10 Day Avg. Volume14,239,852
30 Day Avg. Volume9,724,763
Financial Highlights & Ratios
PEG Ratio-0.39
Price to Book (P/B)6.61
Price to Sales (P/S)18.82
P/FCF Ratio-7.67
Enterprise Value/Market Cap1.60
Enterprise Value/Revenue14.72
Enterprise Value/Gross Profit133.37
Enterprise Value/Ebitda-7.08
Forecast
1Y Price Target
$2.11Price Target Upside42.45% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.16
Revenue Forecast (FY)$66.18M
UR-Energy Business Overview & Revenue Model
Company Description
Ur-Energy, Inc. engages in the business of uranium mining, recovery, and processing activities including the acquisition, exploration, development, and operation of uranium mineral properties. Its projects include Lost Creek, Shirley Basin, Lost S...
How the Company Makes Money
UR-Energy makes money primarily by selling uranium concentrates (commonly referred to as U3O8 or “yellowcake”) produced from its ISR mining operations. Revenue is generated through (1) physical deliveries and sales of uranium under contract and/or...
UR-Energy Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 02, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational execution and demonstrable production gains (drummed and shipped volumes up substantially quarter-over-quarter and year-over-year), improved process capability (sand filter driving ~30% flow improvement), advancing infrastructure (wastewater, RO upgrades), meaningful liquidity ($95.3M cash) and an active growth pipeline (Shirley Basin now operating, Lost Creek South drilling planned, Lost Soldier PEA on track). Challenges noted include partial commissioning timing (some systems coming online after quarter-end), early-stage Shirley production that remains to be fully validated, continued high development spend (~$12–$15M/quarter), a cash cost ($40.20/lb) above long-term targets, regulatory dependencies for additional wellfields, and a Q4 delivery obligation on a term loan. Overall, positives on execution, liquidity and growth opportunities materially outweigh the operational and timing risks discussed, but several items remain dependent on continued ramp and permitting progress.Positive Updates
Quarterly Production Increase
Drummed 141,000 lbs of yellowcake in Q2 — described as the most pounds drummed in any quarter since 2022 — representing ~47% higher than Q1 and ~26% higher than Q2 last year.
Negative Updates
Partial Commissioning and Operational Delays
Sand filtration system was installed in Q2 but not fully online until July (after quarter-end), and specialty trailers for hauling resin from Shirley Basin still required final commissioning/inspection — these items constrained production/timeliness during Q2.
Read all updates
Q2-2026 Updates
Positive
Negative
Quarterly Production Increase
Drummed 141,000 lbs of yellowcake in Q2 — described as the most pounds drummed in any quarter since 2022 — representing ~47% higher than Q1 and ~26% higher than Q2 last year.
Read all positive updates
Company Guidance
The company reiterated it is on track to meet its 2026 contracted deliveries after deferring 300,000 lb from an original 1.3 million‑lb book, and highlighted Q2 operational and financial metrics: 141,000 lb drummed at Lost Creek (about 47% above Q1 and 26% above Q2 last year), 150,000 lb shipped (≈44% above Q1, 42% above Q2 last year), 215,000 lb sold generating $14.4 million of revenue, cash cost including ad valorem/severance taxes of $40.20/lb, $95.3 million of unrestricted cash, and 348,000 lb of finished inventory at the conversion facility; Shirley Basin captured 10.6k lb with six of ten production columns online and first resin shipments imminent; Lost Creek installed a sand filter that raised flows from ~2.5k gpm to ~3.2–3.3k gpm, the company ran 17 drill rigs, plans a 120‑hole Lost Creek South program (16 sq mi), broke ground on a wastewater treatment facility, expects Mine Unit 5 wellfield construction subject to approval by year‑end, is spending roughly $12–15 million per quarter on wellfield development, and said roughly 6–10 header houses per year (6–8 at Shirley) and a ~6,000 gpm plant handling ~40 ppm ore would support a ~1 million lb/yr steady state.UR-Energy Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
38
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 35.08M | 27.21M | 33.71M | 17.68M | 19.00K | 16.00K |
| Gross Profit | 3.87M | 74.00K | -8.97M | -1.69M | -6.84M | -6.98M |
| EBITDA | -72.89M | -67.26M | -50.07M | -27.68M | -13.66M | -18.37M |
| Net Income | -88.51M | -74.90M | -53.19M | -30.66M | -17.14M | -22.94M |
Balance Sheet | ||||||
| Total Assets | 270.70M | 272.46M | 194.13M | 128.38M | 107.89M | 120.84M |
| Cash, Cash Equivalents and Short-Term Investments | 95.59M | 123.86M | 76.06M | 59.70M | 33.00M | 46.19M |
| Total Debt | 71.21M | 68.22M | 1.24M | 6.54M | 11.08M | 12.34M |
| Total Liabilities | 201.75M | 195.01M | 61.33M | 53.51M | 45.40M | 51.45M |
| Stockholders Equity | 68.95M | 77.45M | 132.80M | 74.87M | 62.50M | 69.39M |
Cash Flow | ||||||
| Free Cash Flow | -104.21M | -66.75M | -80.96M | -19.02M | -18.80M | -12.89M |
| Operating Cash Flow | -62.25M | -43.13M | -71.92M | -16.98M | -18.09M | -11.70M |
| Investing Cash Flow | -41.87M | -23.62M | -9.05M | -2.04M | -709.00K | -1.19M |
| Financing Cash Flow | 143.87M | 114.93M | 99.89M | 46.09M | 5.89M | 54.87M |
UR-Energy Technical Analysis
Negative
1.48
Price Trends
1.18
Negative
1.29
Negative
1.47
Negative
Market Momentum
-0.10
Positive
30.10
Neutral
20.12
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For URG, the sentiment is Negative. The current price of 1.48 is above the 20-day moving average (MA) of 0.96, above the 50-day MA of 1.18, and above the 200-day MA of 1.47, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 30.10 is Neutral, neither overbought nor oversold. The STOCH value of 20.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for URG.
UR-Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $547.23M | 6.53 | 16.02% | 4.74% | 29.58% | 10.28% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | $633.82M | -28.37 | -0.48% | 40.11% | 20.94% | 95.10% | |
54 Neutral | $3.64B | -26.17 | -9.95% | ― | -44.27% | -36.85% | |
54 Neutral | $2.10B | 40.82 | 7.06% | ― | 8.47% | -59.16% | |
47 Neutral | $322.59M | -3.53 | -110.66% | ― | -11.17% | -39.84% | |
41 Neutral | $1.99B | -22.45 | -11.29% | ― | 62.51% | 30.69% |
* Energy Sector Average
URG
UR-Energy
0.81
-0.77
-48.73%
SD
SandRidge Energy
14.76
3.61
32.41%
UEC
Uranium Energy
7.35
-5.97
-44.82%
LEU
Centrus Energy
102.45
-257.28
-71.52%
SMC
Summit Midstream
31.21
9.56
44.16%
UUUU
Energy Fuels
7.52
-11.58
-60.63%
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.