Shares of Ur-Energy Inc. (TSE:URE, NYSE:URG) surged past their 50-day moving average during trading on Friday, marking a significant milestone for the company. The stock’s 50-day moving average stood at C$1.89, but it peaked at C$2.35 before closing at C$2.29. A total of 352,123 shares changed hands on the day, reflecting growing investor interest.
Analysts have taken notice of this upward trend. Northland Capital Markets upgraded Ur-Energy to a “strong-buy” rating in a research note released on October 26, 2023. Currently, three analysts have provided a “Strong Buy” rating for the stock, contributing to a consensus rating of “Strong Buy” as reported by MarketBeat.
Financial Performance and Outlook
Ur-Energy recently released its earnings results on November 3, 2023, revealing a challenging financial landscape. The company reported an earnings per share (EPS) of C($0.07) for the quarter, with revenues amounting to C$6.32 million. Notably, Ur-Energy experienced a negative net margin of 234.02% and a negative return on equity of 38.84%. Analysts forecast that Ur-Energy will post an EPS of 0.0273858 for the current fiscal year, indicating potential for recovery.
Ur-Energy is primarily involved in uranium mining, recovery, and processing activities across the United States. The company is focused on the acquisition, exploration, development, and operation of uranium mineral properties, with key projects including Lost Creek and Shirley Basin.
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