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Rob Chang

Cantor Fitzgerald

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Cantor Fitzgerald Canada's Senior Analyst and Head of Metals and Mining Rob Chang has covered the metals and mining space for over eight years for the sellside and the buyside. Prior to Cantor, Chang served on the equity research teams at Versant Partners, Octagon Capital and BMO Capital Markets. His buyside experience includes managing $3 billion in assets as a director of research/portfolio manager at Middlefield Capital, where his primary resource portfolio outperformed its direct peer and benchmark by over 28% and 18%, respectively. He was also on a five-person multistrategy hedge fund team, where he specialized in equity and derivative investments. He completed his Master of Business Administration from the University of Toronto's Rotman School of Management.




Recent Interviews

Uranium Got You Down? Better Days Are Ahead: Cantor Fitzgerald Canada's Rob Chang (6/9/15) Uranium's price has been low and stagnant for years, but that's going to change, says Rob Chang of Cantor Fitzgerald Canada. Chang foresees volatility as the 2020 uranium deficit draws closer and demand for the limited stockpile drives the price up. In this interview with The Energy Report, the analyst points out that investors can find bargains throughout the space, and describes a handful of companies he considers particularly interesting.

Rob Chang Spins Yellowcake into Gold and Gold into Green (12/9/14) The long winter of falling uranium prices is about to give way to a Japanese spring. In an interview with The Mining Report, Cantor Fitzgerald's Rob Chang discusses the return of the small producers as an increasingly hungry market looks to eat up all of the available uranium. Plus, Chang likes gold and enlightens us on how gold miners are shaking profits out of slag.

Fracking, Uranium and Solar, Oh My!: Growth and Innovation in 2013 (12/26/13) A more profitable outcome often requires a new way of doing things. The Energy Report profiled some of the most innovative stories in the energy space in 2013. Our experts talked about everything from developments in hydraulic fracturing techniques to new ways of finding and processing natural resources. As we look forward to exciting new opportunities in 2014, let's revisit some stories our experts shared last year.

Recent Quotes

"FCU's Triple R's R780E zone expands again." (6/29/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"With the closing of its acquisition of Uranerz Energy, we rate EFR a Buy." (6/22/15) Energy Fuels Inc. - Rob Chang, Cantor Fitzgerald More >

"Foreign entities are now permitted to hold a majority stake in a producing uranium mine in Canada; this should be a positive for NXE." (6/22/15) NexGen Energy Ltd. - Rob Chang, Cantor Fitzgerald More >

"Both FCU's R600W zone and R780E zone have expanded." (6/15/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"NXE announces second-best U3O8 hole ever drilled globally." (6/15/15) NexGen Energy Ltd. - Rob Chang, Cantor Fitzgerald More >

"NXE is currently our top pick in the space due to its tremendous upside." (6/9/15) NexGen Energy Ltd. - The Energy Report Interview with Rob Chang More >

"NXE is our Top Pick among uranium explorers." (6/1/15) NexGen Energy Ltd. - Rob Chang, Cantor Fitzgerald More >

"FCU's new zone is clearly shaping up nicely." (6/1/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

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"In Q1/15, P achieved record production overall and at San Dimas." (5/7/15) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"FCU's PLS15-352 significantly adds to R600W's resource potential." (5/4/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"FCU's successful winter 2015 drill program has come to an end." (4/16/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"The released assays give further indication that FCU's PLS property will continue to grow." (4/6/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"Highlights from FCU's PLS15-343 include 44m at 3.36% U3O8." (3/25/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"Highlights from FCU's PLS15-343 include 44m at 3.36% U3O8." (3/25/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"Drilling expanded FCU's R780E zone vertically, laterally and along strike." (3/23/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"FCU's R600W zone may affect future development of the Triple R deposit." (3/19/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"Samples at P's Jessica vein reveal 10.4 g/t Au and 1,606 g/t Ag." (3/18/15) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"FCU's discovery significantly improves potential project economics." (3/3/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"P's Q4/14 financial results were largely in line with forecasts." (2/13/15) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"The acquisition of 12% Fission 3.0 will give FCU a greater stake in satellite projects around its PLS deposit." (2/11/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"PGLC intersected 87.9 g/t Au over 3 ft at Relief Canyon." (2/11/15) Pershing Gold Corp. - Rob Chang, Cantor Fitzgerald More >

"P plans to access higher-grade ore in 2015 at both San Dimas and Black Fox." (2/5/15) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"PGLC's results from six drill holes in Relief Canyon exceed 4.35 g/t gold." (2/5/15) Pershing Gold Corp. - Rob Chang, Cantor Fitzgerald More >

"We are maintaining our Buy rating on FCU and increasing our target price." (2/5/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"PGLC discovered its highest-grade intercept, 76.8 g/t Au over 4.7 ft." (2/5/15) Pershing Gold Corp. - Rob Chang, Cantor Fitzgerald More >

"All five of FCU's drill holes hit off-scale mineralization." (1/26/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"The maiden resource estimate at FCU's PLS was substantially higher than our estimates." (1/9/15) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"EFR has a great strategic advantage." (12/9/14) Energy Fuels Inc. - The Mining Report Interview with Rob Chang More >

"Some of the best uranium drill holes ever reported are on FCU's property, and that is pretty impressive." (12/9/14) Fission Uranium Corp. - The Mining Report Interview with Rob Chang More >

"As an under-the-radar, near-term gold producer, we think PGLC is quite valuable." (12/9/14) Pershing Gold Corp. - The Mining Report Interview with Rob Chang More >

"URZ is well positioned for earning long-term profits." (12/9/14) Uranerz Energy Corp. - The Mining Report Interview with Rob Chang More >

"URE is near the top of our list because it is producing at the low end of the cost curve." (12/9/14) Ur-Energy Inc. - The Mining Report Interview with Rob Chang More >

"URE's Shirley Basin Pathfinder assets will be fast tracked at low capital cost." (12/5/14) Ur-Energy Inc. - Rob Chang, Cantor Fitzgerald More >

"The highlight hole at FCU's R780E zone showed 3.72% U3O8 over 64.5m." (12/1/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"PG's shift in focus brings potential production at Cove-McCoy forward." (11/20/14) Premier Gold Mines Ltd. - Rob Chang, Cantor Fitzgerald More >

"P extended the known mineralization in San Dimas' Roberta vein." (11/14/14) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"Q3/14 was URZ's first ever revenue quarter from the sale of uranium." (11/11/14) Uranerz Energy Corp. - Rob Chang, Cantor Fitzgerald More >

"We expect URZ to produce nearly 500 Klb uranium in this initial year." (11/10/14) Uranerz Energy Corp. - Rob Chang, Cantor Fitzgerald More >

"P's Q3/14 financial results met our adjusted EPS expectations." (11/6/14) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"URE has a solid book of contracts extending out to 2018." (11/3/14) Ur-Energy Inc. - Rob Chang, Cantor Fitzgerald More >

"Ur-Energy has a solid book of contracts extending out to 2018." (11/3/14) Ur-Energy Inc. - Rob Chang, Cantor Fitzgerald More >

"We expect PGLC to produce 85 Koz Au at Relief Canyon in 2016." (11/3/14) Pershing Gold Corp. - Rob Chang, Cantor Fitzgerald More >

"We continue to view FCU as very undervalued. It remains one of our top picks." (10/27/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"We maintain our Buy rating on URZ and expect 500 Klb uranium to be produced this year." (10/16/14) Uranerz Energy Corp. - Rob Chang, Cantor Fitzgerald More >

"In Q3/14, URE captured more than 131 Klb at the Lost Creek facility." (10/16/14) Ur-Energy Inc. - Rob Chang, Cantor Fitzgerald More >

"Since July 25, EFR has underperformed the U3O8 spot price." (10/16/14) Energy Fuels Inc. - Rob Chang, Cantor Fitzgerald More >

"FCU announced a hole that is the second best ever reported on PLS." (10/6/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"Graduation from the TSX.V to the TSX should improve FCU's liquidity." (10/3/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"Mineralization levels in six of the seven new drill holes at FCU's PLS registered off the chart." (9/29/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"P's Black Fox operational review has provided added confidence." (9/16/14) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"EFR's Q2/14 revenues of $13.52M topped our $12.23M estimate." (8/15/14) Energy Fuels Inc. - Rob Chang, Cantor Fitzgerald More >

"P's San Dimas is an excellent performing mine." (8/7/14) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"Of recent FCU drill holes, PLS14-201 returned 26.41% U3O8 over 12m." (8/7/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"FCU's encouraging results underpin growth potential in every direction." (8/5/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"Consolidation of Cove-McCoy gives PG full control of the project." (8/5/14) Premier Gold Mines Ltd. - Rob Chang, Cantor Fitzgerald More >

"Encouraging results underpin the growth potential of FCU's R780E zone." (7/28/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"Resources for URE's Shirley Basin and Lucky Mc total 14.7 Mlb U3O8, ahead of our initial estimates." (7/22/14) Ur-Energy Inc. - Rob Chang, Cantor Fitzgerald More >

"The potential growth of FCU's R780E zone east of line 1080E is strong." (7/21/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"URE is one of our top picks due to its low-cost production status and big upside potential." (7/16/14) Ur-Energy Inc. - Rob Chang, Cantor Fitzgerald More >

"FCU has again released a set of solid assay results from PLS." (7/14/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"We believe P has significant upside potential at Black Fox." (7/10/14) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"We continue to believe in PG's ability to execute." (7/9/14) Premier Gold Mines Ltd. - Rob Chang, Cantor Fitzgerald More >

"PG is extremely undervalued and one of our top picks." (7/3/14) Premier Gold Mines Ltd. - Rob Chang, Cantor Fitzgerald More >

"EFR's focus is now more streamlined on key pipeline projects." (7/3/14) Energy Fuels Inc. - Rob Chang, Cantor Fitzgerald More >

"With pedigreed management and an excellent jurisdiction, we remain very positive on PGLC." (6/23/14) Pershing Gold Corp. - Rob Chang, Cantor Fitzgerald More >

"P's Black Fox mine has the potential for additional upside." (6/20/14) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"FCU reported two extremely high grade intercepts at its PLS project." (6/16/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"URZ reached a milestone event as it sent its first shipment of uranium resin to Cameco." (6/16/14) Uranerz Energy Corp. - Rob Chang, Cantor Fitzgerald More >

"PG's recent drilling at Cove has encountered some excellent intercepts of up to 183 g/t Au, as well as high silver grades." (6/11/14) Premier Gold Mines Ltd. - Rob Chang, Cantor Fitzgerald More >

"PGLC's fully permitted plant is ideally positioned to process future discoveries." (5/28/14) Pershing Gold Corp. - Rob Chang, Cantor Fitzgerald More >

"FCU's new assays added significant size to our estimated PLS resource." (5/26/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"URE has already secured sales commitments that will total ~$26.5M in FY/14." (5/22/14) Ur-Energy Inc. - Rob Chang, Cantor Fitzgerald More >

"EFR strengthened its financial position during the quarter." (5/14/14) Energy Fuels Inc. - Rob Chang, Cantor Fitzgerald More >

"PG is an undervalued company with notable assets in three excellent to world-class gold camps." (4/23/14) Premier Gold Mines Ltd. - Rob Chang, Cantor Fitzgerald More >

"We have increased our resource estimate for FCU's PLS by 10%." (4/23/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"URZ has commenced production at its 100%-owned Nichols Ranch project." (4/15/14) Uranerz Energy Corp. - Rob Chang, Cantor Fitzgerald More >

"We have increased our resource estimate by 32% on additional assays from FCU's Patterson Lake South project." (4/14/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"Seven FCU holes returned wide intervals of 'off-scale' mineralization." (4/7/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"All necessary permits for uranium production at URZ's Nichols Ranch project have been received." (4/3/14) Uranerz Energy Corp. - Rob Chang, Cantor Fitzgerald More >

"EFR has the largest NI 43-101 resource inventory out of any U.S.-focused producer." (4/3/14) Energy Fuels Inc. - Rob Chang, Cantor Fitzgerald More >

"Only 2% of FCU's PLS has been tested; blue sky expansion remains." (4/3/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"Drilling at PG's Hardrock continues to demonstrate strong continuity within the open-pit resource." (3/26/14) Premier Gold Mines Ltd. - Rob Chang, Cantor Fitzgerald More >

"The Nuclear Regulatory Commission should issue URZ a license any day." (3/25/14) Uranerz Energy Corp. - Rob Chang, Cantor Fitzgerald More >

"P's production milestone further underscores the quality of San Dimas and the operating team there." (3/13/14) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"FCU's hole PLS14-160 narrowed the gap between zones R390E and R585E." (3/7/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"Reserve, resource and grade increases at P's San Dimas are positive." (3/6/14) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"The US$12.3M of released funds provides EFR with additional operational and development flexibility." (3/3/14) Energy Fuels Inc. - Rob Chang, Cantor Fitzgerald More >

"We are initiating coverage on BRI with a Buy recommendation." (2/28/14) Brazil Resources Inc. - Rob Chang, Cantor Fitzgerald More >

"Assay results confirm multiple zones of mineralization at PG's Cove." (2/20/14) Premier Gold Mines Ltd. - Rob Chang, Cantor Fitzgerald More >

"P's stock price has performed very well year to date." (2/14/14) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"P's total cash costs for FY13 were 6% lower than that of 2012." (2/12/14) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"FCU's final drill hole assays are mostly in line with expectations." (2/5/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"PG's Hardrock PEA showed higher-than-forecasted production expectations." (1/29/14) Premier Gold Mines Ltd. - Rob Chang, Cantor Fitzgerald More >

"FCU has just announced the scintillometer results yet at PLS." (1/27/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"P has announced a 29% YOY increase in production." (1/24/14) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"PG's accomplished management team will help Hardrock ramp up all the way up to 18 Ktpd." (1/23/14) Premier Gold Mines Ltd. - Rob Chang, Cantor Fitzgerald More >

"FCU is one of our top picks in the uranium space." (1/15/14) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"FCU is one of our top picks." (12/30/13) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"We continue to view FCU as being undervalued and it is one of our top picks." (12/23/13) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"P's acquisition of Brigus makes the company a two-asset producer." (12/17/13) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

"FCU's 100%-ownership structure of PLS allows for legitimate acquisition interest." (12/10/13) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"URZ's new loan clears a major milestone and will sufficiently fund initial production at Nichols Ranch." (12/4/13) Uranerz Energy Corp. - Rob Chang, Cantor Fitzgerald More >

"Initial gold recoveries from PG's Hardrock were higher than most analysts' predictions." (12/3/13) Premier Gold Mines Ltd. - Rob Chang, Cantor Fitzgerald More >

"EFR's NYSE listing will open itself to a new investor base." (12/3/13) Energy Fuels Inc. - Rob Chang, Cantor Fitzgerald More >

"Further highly mineralized results may yet be found in FCU's upcoming exploration programs." (11/27/13) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"FCU has expanded mineralization at a newly discovered sixth zone at PLS." (11/12/13) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"FCU announced the discovery of a sixth mineralized zone at PLS." (11/4/13) Fission Uranium Corp. - Rob Chang, Cantor Fitzgerald More >

"P is an undervalued gold producer with near-term growth catalysts." (11/1/13) Primero Mining Corp. - Rob Chang, Cantor Fitzgerald More >

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