Energy Fuels Inc.

Energy Fuels Inc. is one of the largest producers of uranium in the United States, which is highly strategic as the United States is the World’s largest consumer of uranium. The company owns low-cost in situ uranium recovery (ISR) and conventional production operations in the U.S., including the Nichols Ranch ISR Project in Wyoming; the White Mesa Mill in Utah; and the Alta Mesa ISR Project in South Texas. Combined, the Company has over 11.5 million pounds of production capacity in its portfolio. The company also owns several mines on standby and in permitting that it can put into production as uranium prices recover.

Expert Comments:

Joe Reagor, ROTH Capital Partners (9/14/18)
"On Sept. 12, 2018, Energy Fuels Inc. announced it had fully repaid and retired its Wyoming debt. We view this as a significant positive for the company as it looks to improve its balance sheet."

Brien Lundin, Gold Newsletter (Jefferson Financial) (9/1/18)
"Given the current state of play in the market, Energy Fuels Inc. has elected to use its $55M working capital position to acquire royalties in Wyoming and to pay down debt. . .collectively, these royalties on a variety of Wyoming in situ recovery properties have the potential to generate substantial cash flow for the domestic uranium producer. . .the company has paid off an $8.3M bond owed to the state of Wyoming."

The company also announces it will retire $8.3 million bond debt.
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This company delivered strong Q2/18 results, prompting a target price increase by one investment firm.
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Mark Reichman, Noble Capital Markets (8/7/18)
"Energy Fuels Inc. reported Q2/18 net income of $7.1M, or $0.08/share, compared with a loss of $4.5M, or $0.06/share, during the prior year period. . .Q2/18 revenues were $27M, compared with $17.9M during the prior year period and our estimate of $27.2M. . .as of June 30, 2018, the company reported working capital of $55.25M."

David Talbot, Eight Capital (8/7/18)
"We continue to recommend Energy Fuels Inc. as a Buy and raise our target price to C$5.40/share from C$3.85/share after incorporating higher long-term V205 prices of $12/lb (up from $6/lb), assuming 4MM lbs of V205 production over the next three years at 50% margins, and increased U3O8 throughput from processing of alternate feed, pond returns, and toll milling fees. An adjusted net EPS gain of $0.08 slightly beat our $0.06 estimate, ahead of consensus at $0.03. A banner quarter, EFR delivered half a million pounds U3O8 at an average price of $53.55/lb."

Heiko Ihle, H.C. Wainwright & Co. (8/6/18)
"Energy Fuels Inc.'s strong Q2/18 results have contributed $3M to cash flow from operating activities after working capital adjustments in H1/18. We also highlight that H1/18 cash flow and $22.1M in cash from the issuance of shares in H1/18 have contributed to a strong working capital position of $55.2M (versus $33.3M) at Q2/18E, including $43.2M in cash and cash equivalents."

A ROTH Capital Partners report opined on what the announcements mean for the uranium price and this company.
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Brien Lundin, Gold Newsletter (Jefferson Financial) (8/1/18)
"Predictably, Energy Fuels Inc.'s share price spiked on the news that the U.S. Department of Commerce has begun an investigation into the effects of uranium imports on national security. . .I expect much higher prices for this and other U.S.-based operations as well as well-positioned uranium companies in general."

A Haywood Securities report provided an update on the uranium sector.
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Maurice Jackson Mickey Fulp
Maurice Jackson of Proven and Probable explores the prospects for investment in uranium with Mickey Fulp, the Mercenary Geologist.
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A potential Russian backlash to U.S. sanctions could be a boon to U.S. uranium producers.
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Under difficult uranium market conditions, this U.S. producer is capitalizing on a number of innovative opportunities.
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More Expert Comments

Experts Following This Company

Rob Chang
Eric Coffin, Owner – HRA Advisory
Mickey Fulp, Writer – Mercenary Geologist
Colin Healey, Analyst – Haywood Securities
Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Maurice Jackson
Mike Kozak, Analyst – Cantor Fitzgerald
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
Joe Reagor, Analyst – ROTH Capital Partners
Mark Reichman, Managing Director, Senior Analyst - MLP – Noble Capital Markets
David Talbot, Vice President, Senior Analyst – Eight Capital

The information provided above is from analysts, newsletters, the company and other contributors.

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