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 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."

Joe Reagor, ROTH Capital Partners (8/9/16)
"Energy Fuels Inc. released its financial results for Q2 2016. Results were mixed in our view as revenues were higher than expected and EPS loss was greater than anticipated. . .Revenue of $7.0 million was well above our estimate of $2.9 million due to the timing of contract shipments. . .We note EPS was negatively impacted by a $1.6 million inventory write down and other non-cash items. . .we are maintaining our Buy rating as we believe Energy Fuels should see a recovery in its share price as uranium market conditions improve later this year."

David Talbot, Dundee Capital Markets (8/8/16)
"We reiterate our Energy Fuels Inc. BUY recommendation and target price of C$5.80/share. . .Due to vast undeveloped resources, and a number of permitted and ready-to-go projects; EFR remains a top pick for leverage in a rising price environment. . . EFR trades at a slight discount to peers with a P/NAV of 0.51x versus 0.57x, likely since production growth is so price dependent. However, should prices rise we expect EFR to outperform, tapping into an impressive portfolio of mine-ready projects."

Heiko Ihle, Rodman & Renshaw (8/8/16)
"Energy Fuels Inc. announced Q2/16 results: During the quarter, the firm sold 100,000 pounds of uranium at an average long-term contract price of $70/pound, significantly above today's spot prices of below $30/pound. . .we highlight that the firm's long-term contracts continue to allow for production to be sold at prices significantly higher than current spot prices, as Q2/16 average realized prices were more than 100% higher than spot, allowing the firm to weather the current downturn in the spot uranium market. . .We are reiterating a Buy rating and $6.30/share price target."

Joe Mazumdar, Exploration Insights (8/7/16)
"Energy Fuels Inc. reported a resource for its 100%-owned Alta Mesa in situ recovery (ISR) uranium project in southern Texas . . .the maiden resource at Alta Mesa is comparable to the grade at EFR's operating Nichols Ranch ISR plant in Wyoming (0.11-0.12% vs. 0.13% U3O8) but with significantly more volume as it contains ~16.8 million pounds of U3O8 in the Inferred resource category. . .the Alta Mesa ISR plant represents an asset that can be brought on-line fairly quickly with minimal upfront capital as its grade is comparable to Nichol's Ranch."

Colin Healey, Haywood Securities (8/2/16)
"The maiden resource estimate for [Energy Fuels Inc.'s] Alta Mesa confirms identical tons/grade of the 'Historic' resource, which was part of the basis of acquisition. . .we consider EFR well positioned to resume operations at Alta Mesa when uranium prices justify, noting EFR’s extensive in-house expertise with the assets. . .EFR has effectively amassed a strategic land package in the United States surrounding the White Mesa mill which could support an extended mine life in an elevated uranium price environment."

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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