Overview
- The company's June 10 earnings report showed a $0.11 per-share loss and zero revenue for the quarter.
- UEC produced 32,195 pounds of uranium concentrate at a total cost of $54.61 per pound while bringing the Burke Hollow South Texas mine into production.
- Management retained roughly 1.5 million pounds of inventory valued at about $127 million as of April 30 and remained unhedged so it could sell later if prices rise.
- The earnings and deferred-sales strategy triggered a sharp share selloff with an intraday drop of about 8.7% and more than a 23% decline for the week, and analysts reacted with mixed target changes including Goldman’s cut to $16 and H.C. Wainwright’s $26.75 target.
- UEC entered the quarter with $794 million in liquid assets including $488 million in cash, no debt, and it advanced its URNC domestic conversion work with an NRC licensing milestone while expecting production to rise as remaining header houses come online.