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:

David Talbot, Dundee Capital Markets (7/12/16)
"We reiterate our Buy recommendation for Energy Fuels Inc. at a target price of CA$8.35/share. . .Energy Fuels Inc. remains one of our top picks for leverage in a rising uranium-price environment. It continues to manage cash, debt, inventory, and production rates while uranium prices remain low; Energy Fuels will seek approval from debenture holders to amend terms of its CA$22M debt. . .we believe the real attractiveness lies in Energy Fuels' ongoing access to sufficient liquidity, while maintaining a healthy balance sheet."

Brien Lundin, Gold Newsletter (Jefferson Financial) (6/15/16)
"Energy Fuels Inc.'s Q1/16 announcement detailed the moves the company is making to take full advantage of the next significant upsurge in uranium prices. . .on the development front, the company made progress sinking a shaft at its Canyon project in Arizona. . .on the acquisition front, Energy Fuels entered into a definitive agreement to buy Mesteña Uranium, which operates the Alta Mesa ISR project. . .Energy Fuels will soon own 100% of Roca Honda, one of the largest and highest-grade uranium deposits in the United States. . .Energy Fuels remains a strong buy at current levels."

David Talbot, Dundee Capital Markets (6/13/16)
"Energy Fuels Inc.'s Mesteña ISR mine acquisition expected to close this week. . .we reiterate our BUY recommendation and target price of CA$8.35/share. . .if the Mesteña Urnaium deal can be closed, and 4.5M new shares can be issued by June 16, 2016, EFR can be considered for inclusion/retention on the Russell 3000 index under an exception to their rules for pending M&A. . .by including the Mesteña shares, EFR's management suggests that its market cap would be about $143M, and that it would likely be retained on the index."

Eric Coffin, Hard Rock Analyst (6/5/16)
"Energy Fuels Inc. completed its acquisition of Sumitomo's Roca Honda project interest, bringing the 14.6M pounds of Measured and Indicated and 11.2M pounds of Inferred resources completely in house. . .several US states are petitioning the US Atomic Energy Commission to halt sales from its inventory which are adding 3-4M pounds on the supply side and helping keep uranium prices depressed. . .if you want uranium exposure I think EFR represents the best leverage for the dollar."

Colin Healey, Haywood Securities (5/31/16)
"Energy Fuels signed a Definitive Agreement to acquire Mesteña Uranium’s Alta Mesa project is fully licensed and permitted for production of up to 1.5 Mlb U3O8 per year, before being placed on care and maintenance in late 2013 due to depressed uranium prices. Acquisition costs are deemed very attractive at ~US$12M equivalent in EFR stock, for a fully licensed and permitted processing facility and well-field covering ~1.2 Mlbs of the “historic” non NI 43-101 resources at the project."

Brent Cook, Exploration Insights (5/15/16)
"Energy Fuels Inc. ended Q1/16 with cash and working capital positions of US$16.5M and US$37.4M. . .the company 'believes' that it has sufficient cash and resources to carry out its business plan beyond Q1/17 if adverse current market conditions persist. . .despite the negative market sentiment, Energy Fuels managed to generate $18M in revenue during Q1/16 by selling 85% of its total 350,000 lb U3O8 at a term-contract sale price of US$54.19/pound. . .we are confident that the company is pulling as many levers as possible to manage its working capital."

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)
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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