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1. Company Snapshot

1.a. Company Description

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay.It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Slick Rock project in Colorado; Reno Creek project in Wyoming; Diabase project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.The company was formerly known as Carlin Gold Inc.


and changed its name to Uranium Energy Corp.in January 2005.Uranium Energy Corp.


was incorporated in 2003 and is based in Corpus Christi, Texas.

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1.b. Last Insights on UEC

Uranium Energy Corp's recent performance was negatively impacted by macroeconomic risks, including trade disputes and supply chain disruptions, which normalized the uranium spot market following its peak in early 2024. The company's production costs were also affected by the ramp-up of operations at the Irigaray Central Processing Plant and the Christensen Ranch In-Situ Recovery Mine in Wyoming's Powder River Basin. Additionally, the lack of new nuclear power capacity expected to come to the market until the turn of the decade may have contributed to the company's performance.

1.c. Company Highlights

2. Uranium Energy Corp's Q1 FY2026 Earnings: A Strong Start with Expansion Initiatives

Uranium Energy Corp reported a loss per share of -$0.02, beating estimates of -$0.04. The company's cash cost per pound was $29.90 based on 68,612 pounds of precipitated uranium produced in the first quarter. Revenue growth for next year is estimated at -19.6%. The company's strong balance sheet position, with $698 million in cash, inventory, and equities at market prices and no debt, provides a solid foundation for its growth initiatives.

Publication Date: Dec -20

📋 Highlights
  • Production Cost Efficiency: Achieved cash cost of $29.90 per pound for 68,612 lbs of uranium produced in Q1.
  • Balance Sheet Strength: Maintains $698 million in cash, inventory, and equities with no debt as of October 2025.
  • UR&C Feasibility Progress: Launching U.S. Uranium Refining & Conversion Corp, with feasibility study on track for 2026 completion.
  • Irigaray Plant Capacity: Upgrades enabled 1 million lbs/year throughput for drying and packaging operations.
  • Uranium Inventory: Holds 1.356 million lbs of U3O8 inventory, with 300,000 lbs planned purchases at below-market rates.

Operational Highlights

The company is advancing its growth projects in Wyoming and South Texas, supporting higher output through the balance of fiscal 2026. The Irigaray central processing plant has completed upgrades to support 24/7 operations, and the company is now running at full capacity. As Amir Adnani, President and CEO, stated, "the upgrades were sequential, and the plant is now at steady-state operations, with a drying and packaging throughput nearing a rate of almost 1 million pounds per year."

UR&C Initiative and Growth Prospects

The company's UR&C initiative is a critical step in connecting mining and enrichment, and significant progress has been made in the past 60-90 days. The feasibility study with Fluor is progressing well, and the company aims to deliver the results inside the 2026 calendar year. With a strong balance sheet and a debt-free status, Uranium Energy Corp is well-positioned to take advantage of the growing demand for secure domestic uranium supply.

Valuation Metrics

Using the current valuation metrics, the company's Price-to-Book Ratio stands at 4.42, and the EV/EBITDA ratio is -59.94. These metrics indicate that the market is pricing in significant growth expectations, and the company's strong balance sheet and operational performance will be crucial in meeting these expectations.

Outlook and Conclusion on Financials

The company's operations at Christensen Ranch and Burke Hollow are expected to continue growing, with further development and additional header houses planned. With a robust balance sheet and a strong operational performance, Uranium Energy Corp is poised to capitalize on the growing demand for uranium and create value for its shareholders. The current uranium price backdrop provides a compelling setup for value creation, and the company's end-to-end capabilities from uranium resources to mining to processing and now refining and conversion make it a unique player in the industry.

3. NewsRoom

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CenterBook Partners LP Acquires Shares of 83,073 Uranium Energy Corp. $UEC

Feb -21

Source: defenseworld.net

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Forget Gold and Silver: This is the Metal to Buy in 2026 (And 3 Stocks to Play This Trend)

Feb -16

Source: 247wallst.com

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Uranium Energy (UEC) Suffers a Larger Drop Than the General Market: Key Insights

Feb -10

Source:

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Uranium Energy (UEC) Falls More Steeply Than Broader Market: What Investors Need to Know

Feb -05

Source: zacks.com

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Uranium Energy Corp. (NYSEAMERICAN:UEC) Receives Average Rating of “Buy” from Analysts

Feb -01

Source: defenseworld.net

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Buy Soaring Uranium Stocks Now and Hold for Home Run Potential

Jan -30

Source: zacks.com

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Uranium Energy (UEC) Declines More Than Market: Some Information for Investors

Jan -30

Source: zacks.com

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Uranium Energy: Nuanced Potential For 2026

Jan -26

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.50%)

6. Segments

Purchased Uranium Inventory

Expected Growth: 5.5%

Increasing demand for clean energy, nuclear power plant life extensions, and uranium supply constraints drive growth in purchased uranium inventory for Uranium Energy Corp.

Toll Processing Services

Expected Growth: 5.5%

Increasing demand for uranium, growing need for cost-effective processing solutions, and UEC's established facilities drive growth in toll processing services.

7. Detailed Products

In-Situ Recovery (ISR) Uranium

Uranium Energy Corp. uses In-Situ Recovery (ISR) method to extract uranium from underground deposits. This method involves dissolving uranium in water and pumping it to the surface for processing.

Conventional Uranium Mining

The company also engages in conventional uranium mining, which involves extracting uranium ore from open-pit or underground mines and processing it into yellowcake.

Uranium Exploration

Uranium Energy Corp. conducts exploration activities to discover new uranium deposits and expand existing ones, ensuring a steady supply of uranium for the nuclear industry.

Uranium Recycling

The company also provides uranium recycling services, which involve reprocessing and re-enriching uranium from nuclear waste and other sources.

8. Uranium Energy Corp.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Uranium Energy Corp. has a diversified portfolio of uranium projects, which reduces the threat of substitutes. The company's focus on in-situ recovery (ISR) mining also provides a cost advantage, making substitutes less attractive.

Bargaining Power Of Customers

Uranium Energy Corp. sells its uranium products to a diverse range of customers, including nuclear power plants and utilities. While customers have some bargaining power, the company's diversified customer base and long-term contracts mitigate this risk.

Bargaining Power Of Suppliers

Uranium Energy Corp. has a strong supply chain and relationships with its suppliers, which reduces the bargaining power of suppliers. The company's focus on ISR mining also reduces its dependence on external suppliers.

Threat Of New Entrants

The uranium mining industry has high barriers to entry, including significant capital requirements and regulatory hurdles. However, the increasing demand for clean energy and the growing need for uranium could attract new entrants, increasing competition for Uranium Energy Corp.

Intensity Of Rivalry

The uranium mining industry is highly competitive, with several established players. Uranium Energy Corp. faces competition from other uranium producers, but its focus on ISR mining and diversified project portfolio help it to differentiate itself.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 0.20%
Debt Cost 13.08%
Equity Weight 99.80%
Equity Cost 13.08%
WACC 13.08%
Leverage 0.20%

11. Quality Control: Uranium Energy Corp. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Permian Resources

A-Score: 6.4/10

Value: 7.7

Growth: 7.8

Quality: 6.9

Yield: 6.0

Momentum: 4.5

Volatility: 5.3

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Matador Resources

A-Score: 5.9/10

Value: 8.5

Growth: 8.8

Quality: 7.5

Yield: 4.0

Momentum: 2.0

Volatility: 4.7

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PBF Energy

A-Score: 5.0/10

Value: 8.0

Growth: 1.8

Quality: 3.0

Yield: 6.0

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Volatility: 2.7

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Liberty Energy

A-Score: 5.0/10

Value: 7.8

Growth: 8.1

Quality: 4.6

Yield: 3.0

Momentum: 4.0

Volatility: 2.3

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Equitrans Midstream

A-Score: 4.7/10

Value: 5.7

Growth: 3.0

Quality: 6.0

Yield: 5.0

Momentum: 6.0

Volatility: 2.3

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Uranium Energy

A-Score: 4.1/10

Value: 6.4

Growth: 4.7

Quality: 2.5

Yield: 0.0

Momentum: 9.0

Volatility: 2.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

15.97$

Current Price

15.97$

Potential

-0.00%

Expected Cash-Flows