Marketwire 11-Aug-2017 8:45 AM
SAN FRANCISCO, CA -- (Marketwired) -- 08/11/17 -- One uranium producer and explorer reported Q2/17 results that led one analyst to increase its target price.
Included in this article is: Energy Fuels Inc.(TSX: EFR) (NYSE American: UUUU) (NYSE MKT: UUUU)
Energy Fuels Inc. reported its financial results for the second quarter of 2017 on Aug. 3. The company announced $34.2 million of working capital, with cash and equivalents of $18.7 million and approximately 370,000 pounds of uranium concentrate. During the quarter, the company sold 300,000 pounds of U3O8 at an "average realized price of $50.14 per pound."
Rob Chang, an analyst with Cantor Fitzgerald, found the results positive, noting in an Aug. 8 report that, "Q2/17 revenue of $17.9M beat our forecast due to an earlier than expected contract delivery of 300,000 lbs."
Looking ahead, Chang stated that, "FY/17 uranium production guidance has been upheld at between 640,000-675,000 lbs while sales guidance of 160,000 lbs for the remainder of the year is in-line with our expectations after adjusting for the earlier than expected delivery in Q2. . .a new NI 43-101 resource estimate for the Canyon Mine is expected during Q3/17. The expectation is for an increase in both the uranium and copper resource."
Continue reading this article: Uranium Producer Seen as 'Top Leverage Pick to the Expected Uranium Price Recovery'
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