UPDATE: H.C. Wainwright Downgrades Uranerz Energy Corp. to Neutral, Reiterates $2 PT Following Acquisition by Energy Fuels

In a report published Tuesday, H.C. Wainwright analyst Jeffrey Wright downgraded the rating on

from Buy to Neutral, but reiterated the $2.00 price target. In the report, H.C. Wainwright noted, “On January 5, 2014 Uranerz Energy announced the execution of a definitive agreement with Energy Fuels (UUUU; Buy) with respect to Energy Fuels acquiring the issued and outstanding shares of Uranerz. Given the figures surrounding the transaction, we are downgrading URZ from Buy to Neutral while maintaining our estimates. Per our Energy Fuels note published on January 5, 2015 titled ‘Energy Fuels to Purchase Uranerz Energy; Forming a U.S. Uranium Powerhouse,' we believe the transaction should be positive for the surviving entity, Energy Fuels, once closed.” Uranerz Energy Corp. closed on Monday at $1.18.