BMO initiates Energy Fuels coverage with Outperform and $18 target
BMO Capital initiates coverage of Energy Fuels with an Outperform rating and a $18 price target, citing its rare-earth magnet scale-up plans and leadership in U.S. uranium production amid nuclear growth tailwinds.
UUUU BMO Capital initiated coverage of Energy Fuels with an Outperform rating and $18 price target.
Energy Fuels is positioned to become the largest Western producer of sintered rare earth permanent magnets and one of only a few integrated rare earth producers outside of China following a series of acquisitions, the analyst tells investors in a research note.
BMO says Energy Fuels is also the largest producer of uranium in the U.S., a commodity that is benefiting from "renewed nuclear growth tailwinds."