SAN FRANCISCO, CA–(Marketwired – March 24, 2017) – Analysts watching the uranium market agree that as prices for U3O8 turn around, Energy Fuels Inc.’s (TSX: EFR) (NYSE: UUUU) U.S.-based assets, including its conventional and in-situ recovery operations at the Canyon Mine and Nichols Ranch, respectively, make it a good bet for investors. The company’s management team and directors must agree because they have upped their share ownership.
Included in this article is: Energy Fuels Inc.
In a letter to shareholders that Energy Fuels Inc. released on March 16, President and CEO Stephen Antony cited trends he believes bode well for uranium producers like Energy Fuels, including production cutbacks by major producers including Cameco in 2016 and Kazakhstan’s state-owned Kazatomprom in early 2017.
“I would contend that when the World’s largest and lowest-cost uranium producers are feeling the pain of today’s prices, you know this current market pricing is categorically unsustainable,” Antony wrote. Other signs that uranium prices will soon turn around include increased demand for U3O8 as new reactors come on-line, the demand for clean energy sources, and the American desire for energy independence.
Antony concluded his letter by noting that he and other members of the company’s management team and board of directors had recently purchased additional shares of Energy Fuels stock. “We believe in this company, we believe in a uranium price recovery,” he wrote.
Though Rob Chang of Cantor Fitzgerald acknowledges the challenges Energy Fuels has faced in coping with depressed uranium prices, he states in a March 10 research report that “we continue to view Energy Fuels as our top leverage play to the upcoming uranium recovery.”
Continue reading this interview: As Uranium Price Turns, Insiders Stock Up on Energy Fuels
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The Energy Report shares investment ideas for the oil & gas, renewable and alternative energy industries. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
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The following companies mentioned in this article are sponsors of Streetwise Reports: Energy Fuels Inc. Streetwise Reports does not accept stock in exchange for its services. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
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