In a research report issued to investors today, Roth Capital analyst Joe Reagor maintained a Buy rating on UR-Energy Inc (NYSE:URG) with a $1.50 price target, as the company provided its Q3 production update. Production and sales were essentially in-line with expectations.
Reagor said, “We believe URG is poised to increase production if uranium prices continue to strengthen. Many of URG’s competitors need significantly higher uranium prices to justify production startup or expansion, but URG could elect to increase production if uranium prices approach $40 per pound in late 2014. We believe URG is undervalued at its current market valuation.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joe Reagor has a total average return of -14.2% and a 3.6% success rate. Reagor has a -18.8% average return when recommending URG, and is ranked #3270 out of 3319 analysts.