In the ever-evolving energy sector, the battle for market share and innovation is fierce, particularly in the uranium industry. Today, I will compare two key players: Uranium Energy Corp. (UEC) and Ur-Energy Inc. (URG). Both companies operate within the same industry, focusing on uranium mining and exploration, but they present distinct strategies and growth trajectories. As we delve into their respective strengths and weaknesses, I aim to help you determine which company might be the most compelling investment opportunity for your portfolio.
Table of contents
Company Overview
Uranium Energy Corp. Overview
Uranium Energy Corp. (UEC) is a leading player in the uranium sector, focusing on exploration, extraction, and processing of uranium and titanium concentrates primarily in the U.S., Canada, and Paraguay. With a market capitalization of approximately $5.97B, UEC is well-positioned to capitalize on the growing demand for clean energy sources. The company’s operations include notable projects such as the Palangana mine and the Reno Creek project, demonstrating its commitment to sustainable practices. UEC aims to provide a reliable supply of uranium to support the global shift towards nuclear energy, thereby contributing to a more sustainable future.
Ur-Energy Inc. Overview
Ur-Energy Inc. (URG) specializes in the acquisition, exploration, and development of uranium mineral properties, holding interests in 12 projects across the U.S. The flagship Lost Creek project, covering about 48,000 acres, showcases Ur-Energy’s potential in uranium production. With a market cap of approximately $498M, Ur-Energy positions itself as a cost-effective producer within the uranium sector. The company is dedicated to maintaining environmentally responsible operations while supplying uranium to meet increasing energy demands, thus playing a crucial role in the nuclear energy landscape.
Key similarities and differences
Both UEC and URG operate within the uranium industry, focusing on exploration and production. However, UEC boasts a larger market cap and a more diverse project portfolio, including international interests, while URG emphasizes its flagship U.S. project, Lost Creek. Their commitment to sustainable practices aligns, yet their operational scales and geographical focuses differ significantly.
Income Statement Comparison
The following table provides a comparative overview of the latest income statements for Uranium Energy Corp. (UEC) and Ur-Energy Inc. (URG), highlighting critical financial metrics for evaluation.
| Metric | Uranium Energy Corp. (UEC) | Ur-Energy Inc. (URG) |
|---|---|---|
| Market Cap | 5.97B | 498M |
| Revenue | 66.84M | 33.71M |
| EBITDA | -84.50M | -59.97M |
| EBIT | -88.99M | -63.09M |
| Net Income | -87.66M | -53.19M |
| EPS | -0.20 | -0.17 |
| Fiscal Year | 2025 | 2024 |
Interpretation of Income Statement
Over the most recent fiscal year, both UEC and URG reported significant revenue, with UEC generating 66.84M and URG at 33.71M. However, both companies experienced negative EBITDA and EBIT, indicating operational challenges. UEC’s net income decreased sharply to -87.66M, while URG’s also showed a substantial loss of -53.19M. This reflects ongoing struggles in managing costs and achieving profitability. Despite some revenue growth, both companies face hurdles in improving margins, emphasizing the importance of risk management for potential investors.
Financial Ratios Comparison
The following table presents a comparison of key financial metrics between Uranium Energy Corp. (UEC) and Ur-Energy Inc. (URG) for the most recent fiscal year.
| Metric | UEC | URG |
|---|---|---|
| ROE | -8.91% | -40.05% |
| ROIC | -6.57% | -36.08% |
| P/E | -42.30 | -13.06 |
| P/B | 3.77 | 5.35 |
| Current Ratio | 8.85 | 6.34 |
| Quick Ratio | 5.85 | 6.09 |
| D/E | 0.0023 | 0.0093 |
| Debt-to-Assets | 0.21% | 5.10% |
| Interest Coverage | -50.71 | 0.00 |
| Asset Turnover | 0.060 | 0.138 |
| Fixed Asset Turnover | 0.086 | 0.000 |
| Payout Ratio | 0 | 0 |
| Dividend Yield | 0 | 0 |
Interpretation of Financial Ratios
Both companies exhibit negative returns on equity (ROE) and invested capital (ROIC), indicating poor profitability. UEC has a significantly higher current and quick ratio, suggesting better short-term liquidity. However, the P/E ratios are concerning for both, with UEC showing a higher loss per share. URG’s debt-to-assets ratio is notably higher, indicating greater leverage, which could pose risks if market conditions worsen.
Dividend and Shareholder Returns
Both Uranium Energy Corp. (UEC) and Ur-Energy Inc. (URG) do not pay dividends due to their ongoing high-growth strategies and negative net incomes. This approach allows them to reinvest in operations and research, aligning with long-term shareholder value creation. Additionally, both companies engage in share buyback programs, reflecting confidence in their future. However, investors should consider the risks of sustaining growth without consistent profits, which may impact future returns.
Strategic Positioning
In the uranium sector, Uranium Energy Corp. (UEC) holds a significant market share with a market cap of $5.97B, positioning itself as a leader in exploration and production. Ur-Energy Inc. (URG), with a smaller market cap of $498M, operates in a competitive landscape but focuses on its flagship Lost Creek project to carve out its niche. The industry faces competitive pressure from advancements in technology and fluctuating demand, which could disrupt traditional operations. Investors should monitor these dynamics closely.
Stock Comparison
In this analysis, I will examine the stock performance of Uranium Energy Corp. (UEC) and Ur-Energy Inc. (URG) over the past year, highlighting significant price movements and trading dynamics that have influenced investor sentiment.
Trend Analysis
Uranium Energy Corp. (UEC) has demonstrated a 66.93% increase over the past year, indicating a bullish trend. The stock reached notable highs of 15.13 and lows of 4.22, with a standard deviation of 2.6, suggesting moderate volatility. However, the recent trend from September 28, 2025, to December 14, 2025, shows a 5.49% decline, indicating deceleration in the upward momentum.
Ur-Energy Inc. (URG), on the other hand, has experienced a 20.93% decrease over the same period, marking a bearish trend. The stock’s highest price was 2.01 and its lowest was 0.6, with a standard deviation of 0.33, reflecting lower volatility compared to UEC. Recently, from September 28, 2025, to December 14, 2025, URG has seen a 22.73% decline, also showing deceleration in its price trajectory.
Both stocks reflect distinct trading dynamics, with UEC’s long-term performance suggesting potential for recovery despite recent losses, while URG’s ongoing decline raises concerns for current and potential investors.
Analyst Opinions
Recent analyst recommendations for Uranium Energy Corp. (UEC) are concerning, with a rating of D+ indicating significant challenges. Analysts point to low scores in key financial metrics as reasons for skepticism. On the other hand, Ur-Energy Inc. (URG) has a C- rating, reflecting a slightly better outlook, though still indicating caution. Analysts highlight URG’s stronger debt-to-equity position as a positive factor. Overall, the consensus for both stocks leans towards a cautious hold, suggesting that investors should carefully assess their exposure to these uranium companies in 2025.
Stock Grades
I have gathered the most recent stock grades for Uranium Energy Corp. (UEC) and Ur-Energy Inc. (URG) from credible grading firms.
Uranium Energy Corp. Grades
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Goldman Sachs | maintain | Buy | 2025-09-26 |
| HC Wainwright & Co. | maintain | Buy | 2025-09-25 |
| Roth Capital | maintain | Buy | 2025-09-25 |
| BMO Capital | downgrade | Market Perform | 2025-09-25 |
| Roth Capital | maintain | Buy | 2025-09-03 |
| HC Wainwright & Co. | maintain | Buy | 2025-08-06 |
| HC Wainwright & Co. | maintain | Buy | 2025-03-13 |
| HC Wainwright & Co. | maintain | Buy | 2024-12-09 |
| Roth MKM | maintain | Buy | 2024-10-23 |
| Roth MKM | maintain | Buy | 2024-09-25 |
Ur-Energy Inc. Grades
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| HC Wainwright & Co. | maintain | Buy | 2025-11-04 |
| B. Riley Securities | maintain | Buy | 2025-09-25 |
| Roth Capital | maintain | Buy | 2025-09-23 |
| HC Wainwright & Co. | maintain | Buy | 2025-04-15 |
| HC Wainwright & Co. | maintain | Buy | 2025-02-11 |
| Roth MKM | maintain | Buy | 2024-10-23 |
| B. Riley Securities | maintain | Buy | 2024-08-20 |
| HC Wainwright & Co. | maintain | Buy | 2024-08-14 |
| HC Wainwright & Co. | maintain | Buy | 2024-07-17 |
| Roth MKM | maintain | Buy | 2024-05-09 |
Overall, both companies exhibit a strong consensus among analysts with a predominance of “Buy” ratings. Notably, UEC experienced a downgrade from “Outperform” to “Market Perform” by BMO Capital, indicating a potential shift in sentiment that investors should monitor closely.
Target Prices
The consensus target prices for Uranium Energy Corp. (UEC) and Ur-Energy Inc. (URG) reflect optimistic projections from analysts.
| Company | Target High | Target Low | Consensus |
|---|---|---|---|
| Uranium Energy Corp. | 19.75 | 14 | 17.08 |
| Ur-Energy Inc. | 2.6 | 2.15 | 2.38 |
Overall, analysts expect UEC to reach a consensus of 17.08, significantly above its current price of 12.83, indicating potential for growth. Similarly, URG’s target consensus of 2.38 suggests a positive outlook compared to its current price of 1.37.
Strengths and Weaknesses
The following table summarizes the strengths and weaknesses of Uranium Energy Corp. (UEC) and Ur-Energy Inc. (URG) based on the most recent data.
| Criterion | Uranium Energy Corp. (UEC) | Ur-Energy Inc. (URG) |
|---|---|---|
| Diversification | Moderate (various projects across US and Paraguay) | Limited (focus on US projects) |
| Profitability | Negative margins (-1.31) | Negative margins (-1.58) |
| Innovation | Strong focus on technology in uranium extraction | Moderate R&D investment |
| Global presence | Limited to North America | Limited to North America |
| Market Share | Growing in uranium sector | Small but stable share |
| Debt level | Very low (debt to equity 0.002) | Low (debt to equity 0.009) |
Key takeaways from this comparison highlight both companies face challenges in profitability, yet UEC shows a stronger position with a broader project portfolio and minimal debt, making it a more attractive option for risk-conscious investors.
Risk Analysis
The following table highlights the significant risks associated with Uranium Energy Corp. (UEC) and Ur-Energy Inc. (URG):
| Metric | Uranium Energy Corp. (UEC) | Ur-Energy Inc. (URG) |
|---|---|---|
| Market Risk | High | Moderate |
| Regulatory Risk | High | High |
| Operational Risk | Moderate | High |
| Environmental Risk | Moderate | High |
| Geopolitical Risk | High | Moderate |
Both companies face substantial market and regulatory risks, particularly in the context of fluctuating uranium prices and stringent environmental regulations. Recent supply chain disruptions and geopolitical tensions continue to exacerbate these challenges, making careful consideration essential for potential investors.
Which one to choose?
When comparing Uranium Energy Corp. (UEC) and Ur-Energy Inc. (URG), UEC shows a more favorable financial position, despite both companies facing challenges. UEC has a market cap of 3.71B and a D+ rating, indicating potential for improvement. Its gross profit margin stands at 36.6% but it struggles with negative profit margins. In contrast, URG, with a market cap of 365M and a C- rating, has demonstrated a bearish stock trend, with a price decline of 20.93%. URG’s recent financials reveal significant losses and a high price-to-sales ratio of 22.65, suggesting overvaluation.
Investors focused on growth may prefer UEC due to its stronger market position, while those prioritizing stability might lean towards URG, acknowledging its lower market cap but consistent operational metrics. However, I caution against investing in either due to industry volatility and supply chain challenges.
Disclaimer: This article is not financial advice. Each investor is responsible for their own investment decisions.
Go further
I encourage you to read the complete analyses of Uranium Energy Corp. and Ur-Energy Inc. to enhance your investment decisions:
