Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 26 May, 26 | UUUU | Buy | USD 18.04 | USD 18.95 | USD 20.0 | 10 days | Closed |
10.20%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Energy Fuels Inc., together with its subsidiaries, engages in the extraction, recovery, exploration, processing, permitting, evaluation, and sale of uranium, vanadium, and rare earth elements. It also targets heavy mineral sands, including ilmenite, rutile, zircon, and monazite. The company owns and operates the Nichols Ranch project located in Wyoming, White Mesa Mill located in Utah, the Pinyon Plain project located in Arizona, the Roca Honda project located in Central New Mexico, the Sheep Mountain project located in Wyoming, the Bullfrog project located in Utah, and the La Sal project located in La Sal West and La Sal East. It also owns and operates the Bahia project located in Bahia, Brazil; and holds non-material mineral properties in Wyoming, Arizona, and Colorado. The company was formerly known as Volcanic Metals Exploration Inc. and changed its name to Energy Fuels Inc. in May 2006. The company was incorporated in 1987 and is headquartered in Lakewood, Colorado.
Positive Operating Cash Flow: Net cash provided by operating activities improved to USD 8.3 million in Q1FY26 compared to net cash used in operating activities of USD 18.8 million in Q1FY25
Revenue Expansion: Revenue increased significantly to USD 35.8 million in Q1FY26 compared to USD 16.9 million in Q1FY25
Higher Accumulated Deficit: Accumulated deficit widened to USD 500.5 million in Q1FY26 compared to USD 430.3 million in Q1FY25
Higher Operating Expenses: Total operating costs and expenses increased to USD 52.8 million in Q1FY26 from USD 43.1 million in Q1FY25
Energy Fuels faces key risks related to uranium and rare earth commodity price volatility, project permitting delays, integration risks associated with the ASM acquisition, geopolitical exposure across international projects, and potential regulatory or environmental compliance challenges
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 18.04 | 16.2 | 18.95 | 20.0 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Revenue Growth Driven by Uranium Sales: Energy Fuels delivered a significant improvement in financial performance during Q1FY26, supported by higher uranium sales volumes and stronger realized pricing. Revenues increased to USD 35.8 million in Q1FY26 from USD 16.9 million in Q1FY25, reflecting robust demand for domestic uranium supply and balanced participation in both contract and spot markets. The company continued leveraging its White Mesa Mill infrastructure to support uranium processing while expanding into strategic rare earth operations.
Operational Momentum Across Uranium Business: The company demonstrated strong operational execution during Q1FY26 by mining approximately 425,000 pounds of uranium and producing nearly 800,000 pounds at the White Mesa Mill. Energy Fuels also maintained approximately 2.25 million pounds of uranium inventory, strengthening supply flexibility for future deliveries. Continued production from the Pinyon Plain, La Sal, and Pandora projects reinforced the company’s position as one of the leading domestic uranium producers in the United States.
Rare Earth Expansion Enhances Growth Prospects: Energy Fuels accelerated its transition into a broader critical minerals platform during Q1FY26 through expansion of its rare earth element operations. The company successfully produced pilot-scale terbium oxide and continued development of dysprosium and samarium separation capabilities at the White Mesa Mill. Planned Phase 1B and Phase 1C expansions are expected to enable simultaneous processing of uranium and rare earth materials, enhancing operational efficiency and positioning the company as a vertically integrated supplier.
Strategic Projects Support Long-Term Value Creation: The company reported strong progress across its heavy mineral sands and rare earth projects during Q1FY26. The Vara Mada feasibility study outlined a projected USD 1.8 billion NPV with expected annual EBITDA exceeding USD 500 million. Additionally, the White Mesa Mill Phase 2 feasibility study demonstrated lower-than-expected capital costs of approximately USD 410 million and projected annual EBITDA of USD 311 million, supporting long-term production scalability.
Liquidity Position Supports Expansion Plans: Energy Fuels maintained a strong balance sheet during Q1FY26, ending the quarter with approximately USD 957 million in working capital and total assets of USD 1.46 billion. Cash and cash equivalents increased to USD 108.4 million from USD 64.7 million at FY25-end. The strong liquidity profile provides flexibility to advance uranium, rare earth, and heavy mineral sands projects while also supporting strategic acquisitions and infrastructure expansion initiatives.
ASM Acquisition Expands Vertical Integration Strategy: The proposed acquisition of Australian Strategic Materials represents a transformational step in Energy Fuels’ long-term strategy. The transaction is expected to provide downstream metallization and alloy production capabilities through ASM’s operating facility in South Korea and potential future U.S. expansion. Management believes the acquisition will strengthen supply chain integration, expand margins, and improve positioning within the global rare earth magnet materials market.
Considering the mentioned fundamentals in the above sections, a "Buy" recommendation is given on Energy Fuels Inc (NYSE: UUUU) at the closing market price USD 18.04, as of May 22,2026.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Energy Industry: Uranium
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| UUUU Energy Fuels Inc |
1.26 8.24% | 16.56 | 12.27 | - | 29.87 | 2.96 | 33.82 | -27.6603 |
| CCJ Cameco Corp |
0.82 0.78% | 106.49 | 125.05 | 57.80 | 6.80 | 4.81 | 9.68 | 41.12 |
| NATKY JSC National Atomic Company Kazatomprom |
- -% | 70.00 | 14.26 | 15.75 | 0.0096 | 3.56 | 0.0093 | 0.02 |
| SRUUF Sprott Physical Uranium Trust |
- -% | 18.91 | 25.19 | 13.00 | 636.01 | 1.79 | 1968.60 | -177.8571 |
| EGRAF Energy Resources of Australia Ltd |
- -% | 0.0094 | - | 31.15 | 71.96 | 6.08 | 10.50 | 7.55 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on May 26, 2026. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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