Energy Fuels Upgraded to Buy by Roth/MKM
Roth/MKM upgrades Energy Fuels to Buy
UUUU Roth/MKM Upgrades UUUU to Buy, PT $16: "Results were below our expectations, but this did not materially impact our valuation.
We are upgrading Energy Fuels to Buy as its valuation has returned to more normalized mining industry metrics and multiples, while the company has also strengthened its long-term outlook, in our opinion.
We note that Energy Fuels is on the cusp of completing multiple acquisitions that would allow it to control a full mine-to-magnet supply chain.
We believe that this makes Energy Fuels a unique and critical aspect of the U.S. movement to reshore supply chains for key technologies.
We also note that the company has arranged strong government funding support for its long-term goals and that there remains potential for additional government funding." Analyst: Joe Reagor