In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Energy Fuels Inc (NYSE: UUUU), with a price target of $4.50. The company’s shares closed on Friday at $3.51, close to its 52-week high of $3.52.
Ihle said:
“We also highlight that 1H18 cash flow and $22.1M in cash from the issuance of shares in the first half of the year have contributed to a strong working capital position of $55.2M (vs. $33.3M) at the end of 2Q18, including $43.2M in cash and cash equivalents. In our view, this should provide the firm with near-term flexibility to reduce its debt balance, increase its vanadium production capabilities (which we expect in response to spot prices nearing $20 per pound of V 2 O 5 ), and take advantage of any opportunities that may arise in the uranium market. Trade actions under Section 232 could allow for near-term production growth. The U.S. 2018 decision to initiate an investigation into the impact of uranium imports may lead to the President enacting some type of trade or non-trade related remedy to address any perceived national security concerns.”
According to TipRanks.com, Ihle is a 3-star analyst with an average return of 3.3% and a 35.7% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
Energy Fuels Inc has an analyst consensus of Moderate Buy, with a price target consensus of $4.13, representing a 17.7% upside. In a report issued on July 29, Roth Capital also reiterated a Buy rating on the stock with a $3.75 price target.
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Based on Energy Fuels Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $10.82 million. In comparison, last year the company had a GAAP net loss of $4.47 million.
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Energy Fuels, Inc. is a mining development company, which engages in the exploration, evaluation, and permitting of uranium and vanadium properties. Its projects include Nichols Ranch, Alta Mesa, and White Mesa Mill. The company was founded by George E. L. Glasier on June 24, 1987 and is headquartered in Lakewood, CO.
