FBR Capital Starts UR-Energy (URG) at Outperform
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
FBR Capital initiates coverage on UR-Energy (NYSE: URG) with a Outperform rating and a price target of $1.00.
Analyst Lucas Pipes commented, "We base our rating and price target on an EBITDA multiple approach on our forward estimates, which extend through 2018. Overall, we believe Ur-Energy is well positioned to weather the current soft uranium spot pricing headwinds with its stable production levels, ongoing cost-cutting initiatives, development prospects, and solid contract book. While we believe long-term fundamentals support higher uranium prices, we see the potential for continued low prices and minimal spot sales by URG over our forecast period. Still, we believe Ur-Energy’s contract book will provide a high degree of support, considering that contracted sales average over $20/pound above spot prices. We are positive on URG's various development opportunities, both greenfield at the Shirley Basin in situ project and brownfield at Lost Creek. We believe URG remains undervalued against our estimates and recommend accumulating shares."
Shares of UR-Energy closed at $0.53 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
- Union Pacific (UNP) PT Raised to $102 at Stifel Following 4Q Report
- UPDATE: Stifel Starts Safe Bulkers (SB) at Hold
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!