Westwater Resources (WWR) PT Lowered to $2 at H.C. Wainwright

H.C. Wainwright analyst Heiko Ihle lowered the price target on Westwater Resources (NYSE: WWR) to $2.00 (from $2.50) while maintaining a Buy rating.

The analyst commented: "On May 20, the U.S. Department of Commerce (DOC) announced its preliminary affirmative determination in the countervailing duty investigation of active anode material from China. In short, the DOC’s initial ruling determined that Chinese producers of anode material are subject to U.S. import tariffs of up to 721%. We also emphasize that the DOC is conducting a concurrent antidumping investigation into anode materials from China that is focused on whether Chinese graphite is sold in the U.S. at low prices that harm domestic producers. We emphasize that any action related to the protection of a domestic supply chain for graphite should be a significant catalyst for Westwater. Overall, we remain confident in the DOC and other government agencies to take necessary actions that protect U.S. producers as energy independence and national security remain priority topics for the current administration. Reiterate Buy rating while lowering PT to $2.00 from $2.50."

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