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Ur-Energy

URG · TORONTO

$0.8108−$0.0048 (−0.59%)TodayMarket closed ·
Prev close $0.8156

URG analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.
  • Strong buy0
  • Buy3
  • Hold0
  • Underperform0
  • Sell0

12-month price target · 3 analysts

Average $2.45 (+201.6% upside)

Low
$2.33
Now
$0.8108
High
$2.61

Upgrades and downgrades

The latest rating actions, newest first

URG analyst upgrades, downgrades and rating actions
FirmDateActionRating
RBC CapitalAug 17, 2026MaintainsOutperform
HC Wainwright & Co.Aug 11, 2026MaintainsBuy
RBC CapitalJul 14, 2026InitiatesOutperform
HC Wainwright & Co.Apr 27, 2026MaintainsBuy
Canaccord GenuityApr 2, 2026InitiatesBuy
HC Wainwright & Co.Mar 12, 2026MaintainsBuy
HC Wainwright & Co.Nov 4, 2025MaintainsBuy

The case for and against

Updated Oct 21, 2026

Bull case

Ur-Energy is well positioned because its two-hub ISR platform is scaling from Lost Creek into Shirley Basin, with Q2/26 production rising to 140,873 lbs, revenue of $14.4M, and cash costs of $40.20/lb versus a $66.85/lb realized sales price, supporting margin expansion as volumes grow. Its fundamentals are further strengthened by 5.75Mlbs contracted through 2033, roughly 75% of forecast production still uncontracted, and a prudent deferral of ~0.3Mlbs of 2026 deliveries, which reduces near-term execution risk while preserving long-term uranium price upside. The company also has a meaningful growth pipeline in Lost Soldier, Lost Creek South, and North Hadsell, plus about $95M in cash and a capital-efficient hub-and-spoke model that can leverage existing Wyoming infrastructure and support consolidation opportunities.

Bear case

Ur-Energy is facing a negative fundamental setup because its Wyoming-only asset base concentrates operational, regulatory, and geological risk while its relatively small resource base and narrow exploration pipeline limit long-term growth visibility. Although Lost Creek and Shirley Basin are ramping, management still faces meaningful execution risk, and the company may not produce enough to fully cover 2026 contracted sales commitments, potentially forcing higher-cost market purchases or delivery deferrals. Liquidity is adequate with $108M in cash and $120M of convertible notes outstanding as of April 2026, but profitability remains highly exposed to uranium price volatility, permitting delays, and ramp-up setbacks that could pressure valuation.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.