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Energy Fuels Inc (TSE:EFR)
TSX:EFR
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Energy Fuels
(TSX:EFR)50Neutral
Positive Factors
Project Development
The Madagascar government has lifted the suspension on the Toliara Project, marking a significant step in de-risking the project and providing clarity on its development and production path.
Revenue Growth
Energy Fuels experienced notable year-over-year revenue growth driven by heavy mineral sand sales, showing strong sales performance.
Negative Factors
Profitability Challenges
The decline in Energy Fuels' profitability during the quarter was attributable to a $6.5M decrease in uranium concentrate revenue, driven primarily by lower sales volumes.
Energy Fuels (EFR) vs. S&P 500 (SPY)
Market Cap
$1.20B
Dividend YieldN/A
Average Volume (3M)660.32K
Price to Earnings (P/E)―
Beta (1Y)2.12
Revenue Growth110.44%
EPS Growth-144.93%
CountryCA
Employees147
SectorEnergy
Sector Strength57
IndustryOther Energy Sources
Share Statistics
EPS (TTM)-0.39
Shares Outstanding210,241,010
10 Day Avg. Volume712,587
30 Day Avg. Volume660,321
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)8.62
Price to Cash Flow (P/CF)-4.70
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$12.10Price Target Upside111.98% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
Energy Fuels Business Overview & Revenue Model
Company DescriptionEnergy Fuels Inc. (EFR) is a leading integrated U.S.-based uranium mining company, primarily engaged in the exploration, extraction, and production of uranium and vanadium. The company operates a number of key projects and facilities across the United States, including the White Mesa Mill in Utah, the only conventional uranium mill operating in the U.S. Energy Fuels is focused on supplying uranium for nuclear energy production, which is considered a clean and sustainable energy source. Additionally, the company has been expanding its operations to include rare earth elements, positioning itself as a crucial player in the clean energy and technology sectors.
How the Company Makes MoneyEnergy Fuels generates revenue primarily through the sale of uranium and vanadium, extracted from its mining operations, to utilities and other entities involved in nuclear energy production. The company sells processed uranium in the form of yellowcake (U3O8) under long-term contracts and spot market transactions, providing a stable revenue stream. Additionally, Energy Fuels produces and sells vanadium as a byproduct when market conditions are favorable. The company is also exploring opportunities in the rare earth elements market, which could diversify its revenue streams. Strategic partnerships and contracts with nuclear utilities and other energy companies significantly contribute to its earnings, leveraging its established infrastructure and expertise in resource extraction and processing.
Energy Fuels Financial Statement Overview
Summary
Energy Fuels demonstrates strong revenue growth, but struggles with profitability and cash flow. The balance sheet shows financial stability with minimal debt, yet persistent net losses and negative cash flow raise concerns about sustainability.Income Statement
Revenue has shown significant growth over the past years, especially in 2024 with an increase to $78.1 million from $37.9 million in 2023, indicating strong top-line expansion. However, the company remains unprofitable with consistent net losses, and negative EBIT and EBITDA margins, reflecting operational inefficiencies and challenges in managing costs relative to revenue.45
Neutral
Balance Sheet
The company maintains a strong equity base with a high equity ratio of 86.2% in 2024, indicating low leverage and financial stability. The debt-to-equity ratio remains low at 0.004, suggesting minimal reliance on debt. However, the persistent net losses impact the return on equity, which remains negative.65
Positive
Cash Flow
Operating cash flow is consistently negative, and free cash flow has deteriorated significantly in 2024 to -$74.99 million. The company's ability to convert net income into cash flow is weak, as evidenced by the negative free cash flow to net income ratio, raising concerns about the sustainability of operations without external financing.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 78.11M | 37.93M | 12.52M | 3.18M | 1.66M | Gross Profit |
| 22.20M | 19.75M | 4.67M | 1.37M | 14.00K | EBIT |
| -47.52M | -32.37M | -44.94M | -35.42M | -22.98M | EBITDA |
| -34.05M | -29.62M | -56.51M | -32.24M | -20.28M | Net Income Common Stockholders |
| -47.77M | 99.86M | -89.33M | -763.00K | -29.12M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 119.46M | 190.49M | 75.01M | 113.01M | 22.41M | Total Assets |
| 611.97M | 401.94M | 273.95M | 315.45M | 183.24M | Total Debt |
| 2.18M | 1.32M | 1.38M | 469.00K | 758.00K | Net Debt |
| -36.42M | -56.13M | -61.44M | -112.05M | -19.41M | Total Liabilities |
| 80.29M | 22.73M | 29.54M | 19.92M | 25.69M | Stockholders Equity |
| 527.79M | 375.25M | 240.43M | 291.57M | 153.81M |
| Cash Flow | Free Cash Flow | |||
| -75.00M | -60.12M | -51.70M | -30.66M | -32.80M | Operating Cash Flow |
| -43.97M | -15.41M | -49.70M | -29.29M | -32.18M | Investing Cash Flow |
| -13.30M | -23.85M | -7.07M | 3.19M | 3.58M | Financing Cash Flow |
| 15.59M | 30.41M | 7.87M | 117.94M | 36.58M |
Energy Fuels Technical Analysis
Negative
5.71
Price Trends
7.21
Negative
8.10
Negative
7.82
Negative
Market Momentum
-0.47
Positive
32.91
Neutral
34.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:EFR, the sentiment is Negative. The current price of 5.71 is below the 20-day moving average (MA) of 6.42, below the 50-day MA of 7.21, and below the 200-day MA of 7.82, indicating a bearish trend. The MACD of -0.47 indicates Positive momentum. The RSI at 32.91 is Neutral, neither overbought nor oversold. The STOCH value of 34.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:EFR.
Energy Fuels Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $8.34B | 5.35 | -5.98% | 7.29% | 0.20% | -69.45% | |
50 Neutral | $1.20B | ― | -10.58% | ― | 110.44% | -144.93% | |
46 Neutral | $393.23M | ― | -34.14% | ― | 36.51% | -14.93% | |
42 Neutral | $3.74B | 27.25 | -7.77% | ― | ― | ― | |
39 Underperform | C$116.12M | ― | -63.78% | ― | ― | 39.67% | |
38 Underperform | $1.68B | 31.54 | -4.64% | ― | ― | ― |
* Energy Sector Average
Performance Comparison
TSE:EFR
Energy Fuels
5.71
-2.55
-30.87%
TSE:URE
UR-Energy
1.08
-0.96
-47.19%
TSE:NXE
NexGen Energy
6.84
-3.23
-32.08%
TSE:DML
Denison Mines
1.88
-0.59
-23.89%
TSE:CVV
CanAlaska Uranium
0.64
-0.08
-11.11%
Energy Fuels Earnings Call Summary
Earnings Call Date: Feb 27, 2025 | % Change Since: -10.08% | Next Earnings Date: May 2, 2025
Earnings Call Sentiment Neutral
The earnings call reflects a company making significant strategic advancements in rare earth and mineral sands projects, with strong financial health and notable achievements in uranium sales. However, these positives are tempered by a reported net loss, uranium market challenges, and higher operational costs in some areas.Highlights
Record Uranium Sales and High Profit Margin
Energy Fuels sold 450,000 pounds of uranium in 2024 at a gross profit of $21 million, achieving a margin above 50% and an average sale price of $84 per pound.
Strong Financial Position
The company maintains excellent liquidity with over $178 million in cash, cash equivalents, and marketable securities, with no debt.
Milestone Achievement in Rare Earth Production
Energy Fuels produced 38,000 kilograms of on-spec NdPr in 2024, now being tested by non-China manufacturers, with plans to increase production capacity.
Advancement of Heavy Mineral Sands Projects
The company is advancing world-class projects in Madagascar, Australia, and Brazil, contributing $40 million in sales from the Kwale project in 2024.
Strategic Expansion and Acquisition
Energy Fuels secured significant heavy mineral sands assets, particularly the Toliara project in Madagascar, which has a 38-year mine life potential.
Lowlights
Net Loss in 2024
The company reported a net loss of $48 million, driven by transaction costs related to acquisitions and the formation of joint ventures.
Uranium Market Weakness
Energy Fuels did not sell uranium in Q4 2024 due to weak spot prices, impacting revenue potential.
Operational Challenges at Kwale Project
Higher operating costs were incurred due to reclamation activities at the Kwale project, affecting overall financial performance.
Company Guidance
During the Energy Fuels Fiscal Year 2024 Conference Call, CEO Mark Chalmers provided guidance on the company's uranium production and sales for 2025. Energy Fuels expects to produce between 1.73 million to 1.17 million pounds of uranium, with an additional 200,000 pounds potentially coming from alternate feed materials and third-party ore purchases. The company plans to sell 200,000 to 300,000 pounds under contract in 2025, with spot sales being considered as market conditions strengthen. As of the end of 2024, Energy Fuels held 400,000 pounds of finished uranium and anticipates an inventory of 1.6 million to 2.3 million pounds by the end of 2025, either finished or in-process. The company also highlighted its continued focus on the rare earth elements sector, with a capacity to produce up to 1,000 tonnes of NdPr annually and plans to expand this to 6,000 tonnes through a new facility by 2028.Energy Fuels Corporate Events
Business Operations and StrategyFinancial Disclosures
Energy Fuels Reports Strong 2024 Results and Strategic Advancements
Positive
Feb 27, 2025
Energy Fuels reported strong financial results for 2024, highlighting the resumption of U.S. uranium mining, profitable uranium sales, and commercial rare earth production. The company secured two critical mineral projects expected to provide low-cost rare earth feedstocks, enhancing its strategic positioning in the U.S. critical mineral space. These developments are part of Energy Fuels’ strategy to diversify into high-growth markets and secure domestic supply chains, positioning the company for long-term shareholder value and a significant role in American energy dominance.
Business Operations and StrategyFinancial Disclosures
Energy Fuels Schedules 2024 Earnings Call for February 27, 2025
Neutral
Feb 21, 2025
Energy Fuels Inc. announced it will host a conference call and webcast on February 27, 2025, to discuss its 2024 financial results. The release of these results and the subsequent discussion will provide insights into the company’s performance and strategic positioning within the critical minerals and nuclear energy sectors. Stakeholders can participate in the call to gain a deeper understanding of the company’s operations and outlook.
Business Operations and Strategy
Energy Fuels and Navajo Nation Forge Landmark Agreement on Uranium Transport
Positive
Jan 29, 2025
Energy Fuels Inc. has signed a landmark agreement with the Navajo Nation to safely resume the transportation of uranium ore from its Pinyon Plain Mine in Arizona to the White Mesa Mill in Utah. This agreement includes additional safety measures beyond USDOT requirements, addressing historical issues and strengthening relationships with the Navajo Nation. The deal marks a significant step in cleaning up abandoned uranium mines and repairing trust with the Navajo people, demonstrating a collaborative approach to addressing past grievances.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.