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Mar 31, 2023
Ur-Energy Q1 2023 Earnings Report
Estimated Revenue:$3.14M
Estimated EPS:$0
+100.0% YoY
Key Takeaways
Ur-Energy reported a successful first quarter of 2023, marked by advancements at the Lost Creek project and the first uranium sale in nearly three years. The company's cash position increased significantly due to share issuances and operating activities.
Cash and cash equivalents increased by $44.3 million to $77.3 million as of March 31, 2023.
Generated $2.3 million from operating activities.
Received net proceeds of $43.2 million from an underwritten public offering.
Delivered 100,000 pounds of U3O8 to the U.S. Department of Energy for proceeds of $6.4 million.
Revenue by Segment
Forward Guidance
Ur-Energy anticipates increased production rates throughout 2023 and expects to sell 280,000 pounds U3O8 in 2023 for $17.3 million. The company is ready to construct the Shirley Basin mine when market conditions improve.
Positive Outlook
- Targeting ramp up of Header House 2-4 in Q2.
- Expects to sell 280,000 pounds U3O8 in 2023 for $17.3 million.
- Has multi-year sales agreements for deliveries through 2028.
- All major permits and authorizations are in hand for Shirley Basin Project.
- Company anticipates profitable sales prices on a company-wide, all-in cost basis.
Challenges Ahead
- Uncertainty in the supply chain due to potential cessation of Russian imports of low-enriched uranium.
- Potential delays in development.
- Fluctuations in commodity prices.
- Inflation.
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Key Statistics
Market Cap
$662M
P/E Ratio
-10.69
Sector
N/A
Industry
N/A
52-Week High
$1.97
52-Week Low
$1.12
Historical Earnings Impact
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Avg. Return Before/After Earnings
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