# Energy Fuels Inc. (UUUU)

> Source: Nexqual · https://nexqual.com/UUUU · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Energy Fuels Inc. (UUUU), nexqual.com/UUUU" · informational, not investment advice.

**Price:** USD 7.69 (-6.22% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 8.2 · day 7.63–8.01 · 52w 7.63–27.9 · market cap $2.04B · ASE

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $106M, net income -$81.7M (-77.3% margin) (SEC filings).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $281K; 1 not under a Rule 10b5-1 plan ($281K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $1.0M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.88 on a 1–5 scale) (8 analysts), mean target USD 23.35 (range 14–32.5).
- Total return with dividends: 1Y -63.8% vs S&P 500 +14.9%; 5Y -9.5% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD -0.04, revenue estimate $53.1M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.2M | $12.5M | $37.9M | $78.1M | $65.9M | $106M |
| Gross profit | $1.4M | $4.7M | $19.7M | $22.2M | $13.8M | — |
| Operating income | -$35.4M | -$44.9M | -$32.4M | -$47.5M | -$101M | -$96.3M |
| Net income | $1.4M | -$59.8M | $99.9M | -$47.8M | -$85.6M | -$81.7M |
| EPS (diluted) | $0.01 | -$0.38 | $0.62 | -$0.28 | -$0.38 | — |
| Free cash flow | -$30.7M | -$51.7M | -$30.8M | -$66.1M | -$109M | — |
| Gross margin | 43.0% | 37.3% | 52.1% | 28.4% | 20.9% | — |
| Operating margin | -1112.6% | -359.1% | -85.3% | -60.8% | -153.4% | -91.0% |
| Net margin | 45.5% | -478.2% | 263.3% | -61.1% | -129.9% | -77.3% |
| Revenue growth | +92.0% | +293.1% | +203.1% | +106.0% | -15.6% | — |
| Cash + short-term investments | — | $62.8M | $57.4M | $38.6M | $64.7M | — |
| Total debt | — | — | — | $0K | $676M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 19.3x · EV/Sales 25.1x · P/B 2.6x · Earnings yield -4.01% · Net debt $619M · EV $2.66B
P/E at fiscal year-ends: Dec 2023 11.5x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-04-10 | Kapostasy Daniel | VP, Technical Services | 15,000 | $281K | 33% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
2 purchases, $1.0M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-07-08 | Hansen Bruce D | Director | 4,000 | $51K | 12.7 | Too little history (no open-market trades in 2023) |
| 2026-07-07 | Bhappu Ross R. | President and CEO | 74,000 | $968K | 13.08 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Buy (mean 1.88 on a 1–5 scale), 8 analysts; mean target USD 23.35 (low 14, high 32.5).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-01 | HC Wainwright & Co. | Target raised | Buy | $29 → $29.25 |
| 2026-08-14 | BMO Capital | Initiated | Outperform | $18 |
| 2026-08-10 | B. Riley Securities | Target lowered | Buy | $27 → $25 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -63.8% | -9.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -64.0% | -2.0% |
| Volatility (annualized) | 84.6% | 68.8% |
| Max drawdown | -72.3% (Jan 2026→Oct 2026) | -69.8% (Jan 2026→Oct 2026) |

## Peers (Uranium)
LEU (Centrus Energy Corp.) USD 104.15 -4.37% · DNN (Denison Mines Corp) USD 2.16 -7.30% · UROY (Uranium Royalty Corp.) USD 3.38 -1.17% · UEC (Uranium Energy Corp.) USD 7.48 -5.32% · NXE (Nexgen Energy Ltd.) USD 8.1 -5.04% · ISOU (IsoEnergy Ltd.) USD 8.02 -5.87%

## More
Full page: https://nexqual.com/UUUU · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in UUUU's own 10-K filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/1385849/000138584926000009/efr-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Australian Strategic Materials | "•The risk that the ASM acquisition (if successful) does not benefit our shareholders, ASM's shareholders and/or our collective valued customers;" |
| Partner | Honda (HMC) | "The Company is proud to be a part of this historic agreement with the Navajo Nation, which also covers ore transport from the Roca Honda mine upon development of that mine." |
| Partner | DENISON MINES CORP. (DNN) | "Pursuant to a Stipulated Consent Agreement with UDEQ, Denison retained INTERA, Inc., an independent professional engineering firm, to investigate these elevated concentrations and to prepare a Contamination Investigation…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Uranium | $25.1M | 100.0% | +538.2% | $271,000 | 1.1% |
| Corporate costs (not allocated) | — | — | — | -$10.7M | — |
| Total revenue | $25.1M | 100% | — | -$30.6M | -121.8% |

## Company outlook (8-K filed 2016-03-08)

- "Guidance for FY-2016, Update on Conversion from IFRS to US GAAP and Upcoming FY-2015 Results Lakewood, Colorado – March 7, 2016 Energy Fuels Inc."
- "The Company expects to sell 550,000 pounds of uranium in FY-2016 under its existing long-term contracts."
- "The average sales price under the Company’s long-term contracts is expected to be higher in FY-2016 than FY-2015 levels."
- "Selective spot sales are also expected to be made in FY-2016 as necessary to generate cash for operations, construction and resource evaluation activities, including continued shaft-sinking and resource evaluation at the Company’s high-grade Canyon Project and the construction of three additional well-fields at the Nichols Ranch Project."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.04 | $-0.03 | +37.5% | $53.1M | 3 |
| Next quarter (ends 2026-12-31) | $-0.03 | $-0.02 | +28.6% | $58.6M | 3 |
| Current fiscal year (ends 2026-12-31) | $-0.28 | $-0.31 | -10.5% | $182.7M | 4 |
| Next fiscal year (ends 2027-12-31) | $0.48 | $0.33 | +47.0% | $362.1M | 2 |