Energy Fuels Inc (AMEX:UUUU) shares dipped early Tuesday after the company reported mixed third-quarter results. Although Energy Fuels has pared some losses, the stock continues to remain down for the session.
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What Happened: Energy Fuels reported a third-quarter net loss of $16.7 million, or 7 cents per share, which missed analyst expectations for a loss of 6 cents per share, per Benzinga Pro.
During the quarter, the company sold 240,000 pounds of U3O8, a chemical compound of uranium and oxygen, at an average price of $72.38 per pound, bringing in $17.4 million in gross proceeds with a 26% margin. Energy Fuels said it completed just one spot sale of 100,000 pounds, as spot uranium prices were relatively low, averaging around $74.66.
CEO Mark Chalmers stated, “The entire team continued to deliver on promises this quarter, including increased sales, increased revenues and continued low-cost uranium production, which is resulting in significant cash margins as we average down our cost of goods sold over time, and set the stage for increased gross margins in 2026.”
The company expects to process up to approximately 670,000 pounds of U3O8 in the fourth quarter from stockpiled ore, which would result in production of up to approximately 1 million pounds for 2025, within previously reported guidance of 700,000 to 1 million pounds.
Looking ahead to 2026, Energy Fuels plans to sell between 620,000 and 880,000 pounds of U3O8 through its existing long-term contracts. In the first quarter alone, the company expects to produce between 430,000 and 730,000 pounds.
As of Sept. 30, Energy Fuels held $298.5 million in working capital. On Oct. 3, the company secured $700 million from a convertible notes offering, pushing its working capital after the quarter to nearly $1 billion.
Following the company’s quarterly results, HC Wainwright analyst Heiko Ihle maintained a Buy rating, but lowered the price target to $26.75 from $27.50.
UUUU Price Action: Energy Fuels shares were down 3.62% at $17.15 at the time of publication on Tuesday, according to Benzinga Pro.
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