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:

Dundee Capital Markets increased its target price for Energy Fuels after the company unveiled updated plans to position itself as the premier uranium producer in the U.S., including a scheme to recover U3O8 from tailings ponds at its White Mesa Mill facility.
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Heiko Ihle, Rodman & Renshaw (9/22/16)
"Energy Fuels Inc. is in a great position to weather the spot market downturn. With spot uranium prices currently around $25 per pound, we believe looking towards somewhat defensive uranium plays may be prudent. To that end, Energy Fuels has long-term contracts in place with significantly higher selling prices than the current spot market. For 2017, the firm has over 600,000 pounds of uranium contracted to be sold at a price of approximately $60 per pound, which we feel alleviates much of the pressures associated with the prolonged downturn in the spot market. Furthermore, on September 20, 2016, the firm completed a $15.0 million financing."

Joe Mazumdar, Exploration Insights (9/18/16)
"Energy Fuels Inc.'s goal remains to become the largest U.S.-based U3O8 producer. . .the company is one of a few uranium producers with the capability to produce U3O8 from a variety of sources including conventional milling and in-situ recovery. . .it has a global resource (Measured and Indicated + Inferred including Reserves) of over 150 million pounds of U3O8. . .improved markets could lead the company to return to production levels of 4-6 million pounds a year in the medium term."

David Talbot, Dundee Capital Markets (9/12/16)
"We reiterate our BUY recommendation for Energy Fuels Inc. and increase our target price to C$6. . .a 2017 guidance update today beat our expectations, spelling out priorities through 2018. . .the goal is to sustain production capability, ramp up potential and resources, ultimately becoming the largest US producer; it should achieve this in 2017. . .While not the lowest cost producer, we do believe EFR has more optionality than most. Management has a proven track record of dealing with multiple uranium sources, finding lower cost feed and how to blend it."

Eric Coffin, HRA Advisory (9/6/16)
"I continue to think Energy Fuels Inc. is the best play for a potential increase in uranium prices but the timing of that increase is as uncertain as ever. On the back of a money raise and renegotiation and extension of its convertible debentures EFR has been carrying out exploration on its Wyoming ISL and Arizona hard rock uranium projects. . .in Wyoming, drilling for a new wellfield development for Header House 9 at Nicholl Ranch has encountered widespread mineralization. . .in Arizona, delineation drilling at the Canyon mine project has reported a number of high- er than resource grade intercepts."

Brien Lundin, Gold Newsletter (Jefferson Financial) (9/1/16)
"Energy Fuels Inc.'s assets are currently operating far below capacity, a fact which puts it in the proverbial catbird’s seat when prices rise. You see, while other uranium companies will struggle through the lengthy process of getting their development-level project permitted, EFR has the pounds-in-the-ground and the processing infrastructure to quickly monetize any significant uptick in uranium prices. . .at Nichols Ranch, drilling to operationalize the Header House 9 wellfield has also yielded intriguing results. Of the 52 holes drilled on this area, 46 have encountered significant mineralization and one hole intersected 5.0 feet of 2.40% U3O8."

Joe Mazumdar, Exploration Insights (8/21/16)
"Energy Fuels Inc. released the results from drilling at its Nichols Ranch in situ recovery uranium operation in Wyoming and the Canyon Mine conventional milling project in Arizona. . .the Canyon Mine is EFR's highest-grade conventional milling project. . .higher than expected grades from delineation drilling at a wellhead that is slated for production at Nichols Ranch in the latter part of 2016 is also a positive for generating more incremental cash flow. High grades from the Canyon Mine could make the project a priority to bring into production by 2017 and feed the underutilized White Mesa Mill in Utah."

More Expert Comments

Experts Following This Company

Rob Chang, Senior Analyst and Head of Metals & Mining – Cantor Fitzgerald
Eric Coffin, Owner – HRA Advisory
Brent Cook, Analyst, Geologist Exploration Insights
Colin Healey, Analyst – Haywood Securities
Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
Joe Mazumdar Exploration Insights
Rick Mills Ahead of the Herd
Joe Reagor, Analyst – ROTH Capital Partners
David Talbot, Vice President, Senior Analyst – Dundee Capital Markets

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

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