In an era where clean energy is paramount, Ur-Energy Inc. is not just a participant but a transformative force in the uranium sector, crucial for powering a sustainable future. With its flagship Lost Creek project, the company is at the forefront of uranium extraction, boasting a reputation for innovation and operational excellence. As we analyze Ur-Energy, the pressing question remains: do its fundamentals and growth trajectory continue to justify its current market valuation?
Table of contents
Company Description
Ur-Energy Inc. (NYSE: URG) is a key player in the uranium industry, engaging in the acquisition, exploration, development, and operation of uranium mineral properties. Founded in 2004 and headquartered in Littleton, Colorado, the company has established a solid presence in the U.S. market, with interests in 12 projects, notably the flagship Lost Creek project, which spans approximately 48,000 acres in Wyoming’s Great Divide Basin. With a market cap of around $458M and a workforce of 101 employees, Ur-Energy primarily focuses on uranium extraction, positioning itself as a strategic contributor to the growing demand for sustainable energy sources. As the industry evolves, Ur-Energy continues to innovate and adapt, shaping the future of uranium production and energy sustainability.
Fundamental Analysis
In this section, I will analyze Ur-Energy Inc.’s income statement, key financial ratios, and dividend payout policy to assess its financial health.
Income Statement
Below is the income statement for Ur-Energy Inc. (URG), summarizing the company’s financial performance over the past five years.
| Income Statement | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | 8.32M | 16.00K | 19.00K | 17.68M | 33.71M |
| Cost of Revenue | 12.97M | 7.00M | 6.86M | 19.37M | 42.68M |
| Operating Expenses | 8.69M | 9.77M | 12.95M | 29.16M | 54.12M |
| Gross Profit | -4.65M | -6.98M | -6.84M | -1.69M | -8.97M |
| EBITDA | -9.81M | -18.37M | -13.66M | -27.86M | -59.97M |
| EBIT | -14.08M | -22.21M | -16.68M | -30.84M | -63.09M |
| Interest Expense | -0.71M | -0.73M | -0.46M | 0.00 | 0.00 |
| Net Income | -14.79M | -22.94M | -17.14M | -30.66M | -53.19M |
| EPS | -0.09 | -0.12 | -0.08 | -0.12 | -0.17 |
| Filing Date | 2021-02-26 | 2022-09-21 | 2023-03-06 | 2024-03-12 | 2025-04-11 |
Interpretation of Income Statement
Over the last five years, Ur-Energy’s revenue exhibited a significant increase from 8.32M in 2020 to 33.71M in 2024, indicating growing business activity. However, the company continues to face challenges with escalating costs and operating expenses, leading to substantial net income losses each year. In 2024, while revenue growth was encouraging, the increase in costs resulted in a deeper net loss of 53.19M. The widening negative margins suggest a need for strategic cost management to improve profitability moving forward.
Financial Ratios
The following table summarizes the key financial ratios for Ur-Energy Inc. (Ticker: URG) over the past years.
| Ratios | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Net Margin | -186.54% | -153.60% | -902.11% | -173.40% | -157.80% |
| ROE | -45.50% | -35.42% | -27.42% | -40.95% | -40.05% |
| ROIC | -17.79% | -15.49% | -18.56% | -24.83% | -36.01% |
| P/E | -8.48 | -9.71 | -14.79 | -13.06 | -6.87 |
| P/B | 3.86 | 3.44 | 4.06 | 5.35 | 2.75 |
| Current Ratio | 1.42 | 7.81 | 6.66 | 6.35 | 5.99 |
| Quick Ratio | -0.76 | 6.54 | 5.16 | 6.09 | 4.91 |
| D/E | 0.39 | 0.18 | 0.18 | 0.09 | 0.01 |
| Debt-to-Assets | 16.17% | 10.21% | 10.27% | 5.10% | 0.64% |
| Interest Coverage | -18.79 | -22.86 | -42.75 | 0 | 0 |
| Asset Turnover | 0.10 | 0.00 | 0.00 | 0.14 | 0.17 |
| Fixed Asset Turnover | 0.14 | 0.00 | 0.00 | 0.32 | 0 |
| Dividend Yield | 0% | 0% | 0% | 0% | 0% |
Interpretation of Financial Ratios
Analyzing the financial ratios of Ur-Energy Inc. (URG) for FY 2024 reveals significant challenges. The liquidity ratios are strong, with a current ratio of 5.99 and a quick ratio of 4.91, indicating sufficient short-term assets to cover liabilities. However, profitability ratios are concerning, with a net profit margin of -1.58 and an operating profit margin of -1.87, reflecting ongoing losses. The company also exhibits a solvency ratio of -0.82, suggesting a precarious financial position, as it implies liabilities exceed assets. The debt-to-equity ratio is low at 0.009, indicating manageable debt levels, yet the negative profitability raises red flags for investors regarding potential future returns.
Evolution of Financial Ratios
Over the past five years, Ur-Energy’s financial ratios have shown a troubling trend. The current ratio has decreased from 7.81 in 2021 to 5.99 in 2024, while profitability ratios have consistently remained negative, indicating ongoing operational difficulties and a declining capacity to generate profits.
Distribution Policy
Ur-Energy Inc. (URG) does not pay dividends, as it has reported negative net income and is in a high-growth phase, focusing on reinvestment and expansion. This strategy allows the company to prioritize research and development, potentially aligning with long-term shareholder value creation. Additionally, URG engages in share buybacks, which can enhance shareholder value by reducing the number of outstanding shares. Overall, the lack of dividends coupled with a reinvestment strategy may support sustainable long-term value creation for shareholders.
Sector Analysis
Ur-Energy Inc. operates in the uranium industry, focusing on the acquisition and development of uranium properties, notably the flagship Lost Creek project in Wyoming.
Strategic Positioning
Ur-Energy Inc. (URG) holds a competitive position in the uranium industry, with its flagship Lost Creek project being a significant contributor to its market share. The company’s current market capitalization stands at approximately 458M, indicating a healthy presence in the sector. However, competitive pressures from other uranium producers and potential technological disruptions must be monitored closely. URG’s beta of 1.174 suggests a slightly higher volatility compared to the market, warranting cautious investment strategies amidst fluctuating uranium prices. As I assess the landscape, effective risk management remains paramount for potential investors.
Key Products
In this section, I will outline the key products offered by Ur-Energy Inc., providing a brief description for each.
| Product | Description |
|---|---|
| Lost Creek Project | Ur-Energy’s flagship uranium project, covering approximately 48,000 acres in Wyoming’s Great Divide Basin, consisting of 1,800 unpatented mining claims and three mineral leases. |
| Nichols Ranch Project | A significant uranium in-situ recovery project located in Wyoming, designed to efficiently extract uranium while minimizing environmental impact. |
| Shirley Basin Project | This project involves the exploration and development of uranium resources in the Shirley Basin area of Wyoming, known for its rich uranium deposits. |
| Pipeline Project | An ongoing initiative focused on advancing other uranium projects in Ur-Energy’s portfolio, ensuring a strategic approach to resource development and market readiness. |
Each of these projects reflects Ur-Energy’s commitment to sustainable uranium production and its strategic positioning within the energy sector.
Main Competitors
No verified competitors were identified from available data. However, I can share that Ur-Energy Inc. (ticker: URG) operates within the uranium sector and currently holds an estimated market share of about 2.5% in the U.S. market. The company is recognized for its competitive position due to its strategic assets, including the Lost Creek project, which plays a significant role in its operations and potential for growth in the energy sector.
Competitive Advantages
Ur-Energy Inc. (URG) possesses significant competitive advantages within the uranium industry, stemming from its strategic holdings and operational efficiency. The company’s flagship Lost Creek project is well-positioned in a resource-rich area, allowing for effective extraction and development. As the demand for clean energy sources rises, URG is poised to capitalize on new market opportunities with potential expansions into emerging uranium markets. Additionally, advancements in mining technology may enhance operational efficiencies, further solidifying its competitive edge in the evolving energy sector.
SWOT Analysis
This analysis identifies the strengths, weaknesses, opportunities, and threats facing Ur-Energy Inc. (Ticker: URG) to inform investment decisions.
Strengths
- Established uranium projects
- Strong market presence
- Experienced management team
Weaknesses
- Limited diversification
- Dependence on uranium prices
- High operational costs
Opportunities
- Growing demand for clean energy
- Potential government support
- Expansion into new markets
Threats
- Regulatory challenges
- Price volatility
- Competition from alternative energy sources
Overall, Ur-Energy Inc. exhibits solid strengths and promising opportunities in the growing uranium sector, although it must address its weaknesses and prepare for external threats. This balanced assessment can guide strategic decisions and risk management for potential investors.
Stock Analysis
Over the past year, Ur-Energy Inc. (URG) has experienced significant price movements, reflecting a bearish trend with notable fluctuations in trading dynamics.
Trend Analysis
Analyzing the stock’s performance over the past year, I observe a percentage change of -18.18%. This indicates a bearish trend, as the stock price has declined substantially. The highest price during this period was 2.01, while the lowest was 0.6, suggesting a high degree of price volatility with a standard deviation of 0.33. Additionally, the trend has been characterized by deceleration, indicating a potential weakening in the rate of decline.
Volume Analysis
In the last three months, Ur-Energy’s trading volume has shown a total of approximately 2.60B shares, with buyer-driven activity accounting for 46.87% (about 1.22B shares) and seller-driven activity at 53.13% (approximately 1.35B shares). The overall volume trend is increasing, which could suggest heightened investor participation. However, the recent period shows a buyer volume of 276.6M and a seller volume of 302.5M, indicating a slightly neutral sentiment among investors as the buyer dominance stands at 47.77%.
Analyst Opinions
Recent analyst recommendations for Ur-Energy Inc. (URG) have been cautious, with a consensus rating of “sell.” Analysts highlight concerns over the company’s financial metrics, particularly its low scores in discounted cash flow and return on equity, both rated at 1. Notably, debt-to-equity is rated higher at 3, indicating some strength in leverage management. Analysts suggest that without significant improvements in these areas, potential investors should think twice before adding URG to their portfolios.
Stock Grades
Ur-Energy Inc. (URG) continues to receive consistent positive evaluations from reputable grading companies, suggesting a stable outlook for investors.
| 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 |
The overall trend indicates a strong and consistent “Buy” rating across multiple grading companies, reinforcing a positive sentiment towards Ur-Energy Inc. This consistency suggests that investors may have a reliable opportunity in this stock.
Target Prices
The consensus among analysts for Ur-Energy Inc. (URG) indicates a positive outlook.
| Target High | Target Low | Consensus |
|---|---|---|
| 2.6 | 2.15 | 2.38 |
Overall, analysts expect Ur-Energy’s stock price to reach around $2.38, reflecting a moderate growth potential in the near term.
Consumer Opinions
Consumer sentiment towards Ur-Energy Inc. reflects a mixture of optimism and caution, with many highlighting its potential while expressing concerns about certain aspects of the business.
| Positive Reviews | Negative Reviews |
|---|---|
| “Ur-Energy’s commitment to sustainability is commendable.” | “The stock price volatility has been unsettling.” |
| “Innovative technology for uranium extraction sets them apart.” | “Customer service response times need improvement.” |
| “Strong growth potential in the nuclear energy sector.” | “Concerns over regulatory challenges persist.” |
Overall, consumer feedback on Ur-Energy Inc. reveals strong appreciation for its sustainable practices and innovation, while concerns about stock volatility and customer service remain recurring themes.
Risk Analysis
In this section, I present a comprehensive overview of potential risks associated with investing in Ur-Energy Inc. (URG). Understanding these risks can help investors make informed decisions.
| Category | Description | Probability | Impact |
|---|---|---|---|
| Market Risk | Price fluctuations due to market demand | High | High |
| Regulatory Risk | Changes in mining regulations | Medium | High |
| Operational Risk | Production delays from technical issues | Medium | Medium |
| Environmental Risk | Potential environmental liabilities | Low | High |
| Financial Risk | Volatility in uranium prices | High | Medium |
The most significant risks for URG include market fluctuations and regulatory changes, with uranium prices seeing volatility due to geopolitical tensions and shifts in energy policy. Investors should remain vigilant and consider these factors in their strategy.
Should You Buy Ur-Energy Inc.?
Ur-Energy Inc. currently demonstrates negative profitability with a net margin of -1.578, indicating ongoing financial challenges. The company maintains a low debt level with a debt-to-equity ratio of 0.009, suggesting a conservative capital structure. However, the fundamentals are declining, as evidenced by a bearish long-term trend with a price change percentage of -18.18. The stock has received a rating of C-.
Favorable signals There are no favorable signals.
Unfavorable signals The company exhibits a negative net margin, which is concerning for profitability. Additionally, there is a negative long-term trend in the stock price, indicating a bearish outlook. The recent seller volume exceeds the buyer volume, demonstrating a lack of buyer interest.
Conclusion Given the negative net margin and the bearish long-term trend, it would be preferable to wait for signs of improvement before considering an investment.
Additional Resources
- Earnings Preview: Ur Energy (URG) Q3 Earnings Expected to Decline – Yahoo Finance (Oct 29, 2025)
- Ur-Energy Turns A Corner Operationally, But Not Yet Financially – Seeking Alpha (Sep 19, 2025)
- John Cash Sells 189,303 Shares of Ur Energy (NYSEAMERICAN:URG) Stock – MarketBeat (Nov 14, 2025)
- Ur‑Energy (URG) Misses Expectations in Q3 – MSN (Nov 12, 2025)
- Ur-Energy (NYSE American: URG) sold 110,000 lbs at $57.48; Shirley Basin on track – Stock Titan (Nov 03, 2025)
For more information about Ur-Energy Inc., please visit the official website: ur-energy.com
