Energy Fuels (UUUU) Reports Wider-Than-Expected Loss in Q1

Energy Fuels (UUUU) Reports Wider-Than-Expected Loss in Q1

Energy Fuels Inc. UUUU reported first-quarter 2021 loss per share of 8 cents, wider than the Zacks Consensus Estimate of a loss per share of 5 cents. The uranium mining company had reported a loss of 5 cents in the prior-year quarter.

The company incurred a net loss primarily due to an increase in its share price during the first quarter of 2021, which resulted in a non-cash mark-to-market increase in warrant liabilities of $3.50 million. Further, an increase of $2.69 million in development expenditures in the reported quarter compared with the prior year related to the development and ramping up of the expected rare earth element ("REE") carbonate production program at the White Mesa Mill also led to the loss.

Energy Fuels generated revenues of $0.35 million in first-quarter 2021, reflecting a 10% decline year over year. The top line missed the Zacks Consensus Estimate of $0.6 million. During the […]

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