UEC

Centrus Energy LEU reported second-quarter 2026 earnings of 77 cents per share, surpassing the Zacks Consensus Estimate of 74 cents by 4.05%. However, the figure declined 51.6% from $1.59 per share in the prior-year quarter. The year-over-year decline was primarily due to the higher cost of sales in the Low-Enriched Uranium segment and increased administrative and advanced technology expenses. These headwinds were partially offset by higher uranium revenues and investment income. Adjusted earnings per share, which exclude growth costs and stock-based compensation, were $1.77 compared with $1.90 in the prior-year quarter. Revenues rose 14% year over year to $176.1 million and surpassed the consensus mark of $146 million. Centrus Energy Corp. price-consensus-eps-surprise-chart | Centrus Energy Corp. Quote Total cost of sales rose 25.4% to $126.2 million, resulting in a 7% year-over-year decline in gross profit to $49.9 million. Gross margin contracted to 28.3% from 34.9% in the prior-year quarter. Advanced technology costs increased to $10.8 million from $3.3 million as Centrus Energy supported its uranium enrichment expansion. Selling, general and administrative expenses nearly doubled to $26.2 million, primarily reflecting higher stock-based compensation. Operating income dropped to $10.4 million from $33.5 million, while operating margin narrowed to 5.9% from 21.7%. The Low-Enriched Uranium segment revenues increased 22% year over year to $153.4 million. Uranium revenues totaled $53.4 million in the reported quarter compared with no uranium revenues in the prior-year period. Separative work units (SWU) revenues declined 20% year over year to $100 million as sales volumes fell 23%, partly offset by a 3% increase in the average selling price. Low-Enriched Uranium segment’s cost of sales rose 36% to $101.8 million, mainly due to higher uranium volumes.  SWU costs decreased as a result of a 23% decline in the volume of SWU sold, partially offset by a 13% increase in the average unit cost of SWU sold. Technical Solutions revenues declined 21% year over year to $22.7 million. The decrease primarily reflected a $5.9 million reduction in revenues generated from the DOE’s High-Assay, Low-Enriched Uranium (HALEU) operation contract, while the remaining change was related to other contracts. Cost of sales for the segment was $24.4 million compared with $25.6 million in the year-ago quarter. The decrease was mainly due to a $1.9 million decline in costs incurred under the HALEU Operation Contract, while the remaining change was generally attributable to other contracts. The segment recorded a gross loss of $1.7 million against a gross profit of $3.2 million a year earlier. Centrus Energy signed a $900 million HALEU enrichment award with the DOE and selected Geiger Brothers as the construction contractor for its major enrichment expansion. The company also expects to complete its first new centrifuge in Oak Ridge, TN, by the end of 2026. Centrus Energy’s total backlog was $4.5 billion as of June 30, 2026, which extends through 2040. The Low-Enriched Uranium segment accounted for approximately $3.7 billion, including $3 billion of contingent LEU and High-Assay, Low-Enriched Uranium sales commitments. Of the contingent commitments, $2.4 billion was covered by definitive agreements. These contracts support the potential construction of new LEU and HALEU production capacity at the company’s Piketon, OH, facility. Technical Solutions backlog totaled roughly $800 million. However, the proposed DOE budget for fiscal 2027 does not include additional funding for operation of the existing HALEU cascade, which represents most of Technical Solutions’ backlog. Separately, DOE has stated that it does not currently plan to exercise further options under the HALEU Operation Contract. Cash and cash equivalents totaled $1.87 billion at quarter-end. Operating activities used $16.7 million during the first six months of 2026, while capital expenditures increased sharply to $94.8 million from $5.7 million a year earlier. Centrus Energy continues to expect 2026 revenues between $450 million and $500 million. Total capital deployment is projected in the range of $350-$500 million, reflecting increased investment in centrifuge manufacturing and the broader industrial buildout. The company raised its Piketon hiring target to at least 175 net new employees from the prior goal of 100. It continues to expect at least 100 net new hires in Oak Ridge, completion of a Certified-for-Construction package and finalized contracts with all partners identified as critical to the expansion. The company’s shares have lost 19.2% in the past year against the industry’s 71.7% growth. Image Source: Zacks Investment Research LEU currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Cameco Corporation CCJ reported earnings per share of 13 cents, missing the Zacks Consensus Estimate of 26 cents per share. Earnings declined 75% year over year. Quarterly revenues came in at CAD 814 million ($588 million), topping expectations despite declining 7% year over year. Uranium revenues were reported at CAD 659 million ($469 million), down 7% year over year. An 18% decline in sales volumes was offset by a 15% increase in the Canadian dollar average realized price to CAD 93.13 per pound due to the impact of market-priced contracts on its portfolio. The Fuel Services segment’s revenues were down 6% to CAD 152 million ($108 million) due to an 18% decrease in sales volume, offset by a 13% increase in realized price. Ur-Energy Inc. URG is scheduled to release second-quarter 2026 results on Aug. 10. The Zacks Consensus Estimate for Ur-Energy’s bottom line is pegged at a loss of four cents per share, in line with the year-ago quarter. The consensus estimate for Ur-Energy’s top line is pegged at $13.43 million, indicating 28.7% growth from the prior-year reported figure. Uranium Energy Corp. UEC is expected to release fourth-quarter fiscal 2026 results soon. The Zacks Consensus Estimate for Uranium Energy’s bottom line is pegged at a loss of four cents per share, an improvement from the loss of seven cents reported in the year-ago quarter. The consensus estimate for Uranium Energy’s revenues is pegged at $9 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Centrus Energy Corp. (LEU) : Free Stock Analysis Report Cameco Corporation (CCJ) : Free Stock Analysis Report Ur Energy Inc (URG) : Free Stock Analysis Report Uranium Energy Corp. (UEC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Cameco Corporation CCJ is scheduled to report second-quarter 2026 results on July 31, before the opening bell. The Zacks Consensus Estimate for Cameco’s second-quarter revenues is currently pegged at $534.4 million, implying a 15.7% year-over-year decline. The estimate for earnings per share has remained unchanged at 26 cents over the past 60 days. It suggests a 49% decline from the prior-year quarter. Image Source: Zacks Investment Research Over the trailing four quarters, Cameco’s earnings beat the Zacks Consensus Estimate thrice but missed once. CCJ has an average trailing four-quarter earnings surprise of 2.01%. The trend is shown in the chart below. Image Source: Zacks Investment Research Our proven model does not conclusively predict an earnings beat for Cameco this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. Earnings ESP: The Earnings ESP for Cameco is 0.00%. You can uncover the best stocks before they are reported with our Earnings ESP Filter. Zacks Rank: CCJ currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here. CCJ holds a 69.8% stake in the McArthur River mine and 83% in the Key Lake mill. It also held a 54.5% interest in Cigar Lake. In July, Cameco raised its stake in the Cigar Lake joint venture to 57.418%. During May, the company temporarily suspended operations at the McArthur River mine and Key Lake mill after severe flooding in northern Saskatchewan caused a partial collapse of the Smoothstone River Bridge, a key transportation route. However, Cameco quickly established an alternate logistics route, enabling both facilities to resume full production within a short period. The disruption did not alter the company's production guidance for 2026, which stands at 19.5-21.5 million pounds. The midpoint indicates a roughly 2% year-over-year decline.  The guidance includes 9.5-10 million pounds from Cigar Lake and 10.0-11.5 million pounds from McArthur River. We expect the Cigar Lake production outlook to be revised following the ownership increase, though this should not have any bearing on the second-quarter results. The company has guided uranium deliveries of 29-32 million pounds for 2026, down from 33 million pounds in 2025. Based on the full-year guidance, Cameco would need to produce roughly 4.8 million pounds and deliver about 7.6 million pounds of uranium, on average, in each of the remaining quarters. Accordingly, we expect second-quarter uranium production to be modestly higher than the 4.6 million pounds produced in the year-ago quarter, while sales volumes are likely to be below the 8.7 million pounds delivered in the second quarter of 2025. Uranium prices remained supportive during the quarter, averaging approximately $85.18 per pound, up 17% from $72.59 a year earlier. Consequently, stronger realized pricing is likely to have partly offset the impact of lower uranium sales volumes, supporting uranium segment revenues. In the Fuel Services segment, Cameco expects 2026 production and deliveries of 13-14 million kgU compared with 13.1 million kgU delivered in 2025. During the first quarter, production declined 15% year over year to 3.3 million kgU, while sales volumes increased 17% to 2.8 million kgU. Based on full-year guidance, the company would need to produce approximately 3.4 million kgU and deliver around 3.6 million kgU, on average, in each of the remaining quarters. We therefore expect second-quarter fuel services production to be slightly above the 3.2 million kgU produced in the year-ago quarter but deliveries to remain below the 4.4 million kgU sold in the second quarter of 2025. Lower fuel services volumes, along with softer pricing, are expected to have weighed on segment revenues. Overall, Cameco's second-quarter revenues are likely to have declined modestly, as stronger uranium revenues were offset by weaker performance in the Fuel Services business. On the cost front, cost of sales is expected to have increased year over year. However, the company's ongoing debt reduction efforts are likely to have lowered interest expenses, providing some offset. Cameco is also expected to have continued incurring care-and-maintenance costs related to its curtailed tier-two assets. Overall, lower revenues combined with elevated operating costs are expected to have resulted in weaker earnings for the quarter. Cameco shares have declined 21.8% in the past three months compared with the industry’s 12.3% fall. Meanwhile, the company’s peers Energy Fuels UUUU and Uranium Energy UEC have fallen 40.2% and 26.1%, respectively, in the same timeframe. Image Source: Zacks Investment Research Cameco stock is trading at a forward price-to-sales ratio of 15.18 compared with the industry’s 5.05. The company is, however, cheaper than peer Energy Fuels’ and Uranium Energy’s price-to-sales ratios of 15.41 and 54.01, respectively. Image Source: Zacks Investment Research Cameco is well-positioned to benefit from the long-term growth in nuclear energy, thanks to its high-quality, low-cost asset base and its strategic involvement across the entire nuclear fuel supply chain. The company is also investing to expand production by extending Cigar Lake’s mine life to 2036 and ramping up output at McArthur River and Key Lake toward their licensed annual capacity of 25 million pounds (100% basis). Despite softer near-term guidance, Cameco has strong earnings visibility through long-term contracts. As of March 31, 2026, Cameco had secured contracts requiring average annual uranium deliveries of more than 28 million pounds per year over the next five years. The company also has sale contracts for roughly 83 million kilograms of UF6 conversion to 33 customers. Cameco's strong portfolio of long-term contracts and strategic presence across the nuclear fuel cycle continue to support its attractive long-term growth prospects. The company is expected to report year-over-year declines in second-quarter revenues and earnings, and an earnings beat appears unlikely. Regardless of the near-term results, existing shareholders should consider holding the stock, given its solid long-term fundamentals and favorable industry outlook. However, with the stock trading at a premium valuation, prospective investors may be better served waiting for a more attractive entry point before initiating a position. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cameco Corporation (CCJ) : Free Stock Analysis Report Energy Fuels Inc (UUUU) : Free Stock Analysis Report Uranium Energy Corp. (UEC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

CORPUS CHRISTI, Texas, July 23, 2026 /CNW/ -- Uranium Energy Corp (NYSE American: UEC) (the "Company" or "UEC") is pleased to announce the following results of the Company's recent annual meeting of stockholders held on July 23, 2026 (the "AGM"): Amir Adnani, Spencer Abraham, David Kong, Vincent Della Volpe, Gloria Ballesta and Trecia Canty were elected to the Board of Directors of the Company; The appointment of PricewaterhouseCoopers LLP, Chartered Professional Accountants, was ratified as the Company's independent registered accounting firm for the fiscal year ending July 31, 2026; and The Company's non-binding vote on the compensation of its named executive officers was approved. For complete results on all matters voted on at the AGM, please see the Company's Current Report on Form 8-K filed on EDGAR at www.sec.gov. Following the AGM the following Executive Officers of the Company were re-appointed by the Board of Directors of the Company: Amir Adnani: President and Chief Executive Officer; Josephine Man: Chief Financial Officer, Treasurer and Secretary; Scott Melbye Executive Vice President; and Brent Berg Senior Vice President, U.S. Operations. About Uranium Energy Corp Uranium Energy Corp is America's largest and fastest growing uranium company. The Company controls the largest uranium resource base and the most licensed production capacity in the United States, totaling approximately 12 million pounds per year across its Wyoming and South Texas platforms. In Canada, the Company controls one of the most extensive land and resource portfolios in the Athabasca Basin, anchored by the Roughrider Project in Saskatchewan. Through its wholly owned subsidiary, United States Uranium Refining & Conversion Corp, UEC is pursuing domestic refining and conversion capabilities to further strengthen the U.S. nuclear fuel supply chain. UEC maintains a 100% unhedged uranium strategy, providing full exposure to uranium market fundamentals. The Company is managed by professionals with decades of experience across uranium exploration, development, production and fuel cycle infrastructure. Stock Exchange Information:NYSE American: UECWKN: AØJDRRISN: US9168961038 View original content to download multimedia:https://www.prnewswire.com/news-releases/uranium-energy-corp-announces-results-of-annual-meeting-of-stockholders-302833693.html View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2026/23/c3907.html

It has been about a month since the last earnings report for Uranium Energy (UEC). Shares have added about 5.4% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Uranium Energy due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Uranium Energy reported an adjusted loss of seven cents per share in the third quarter of fiscal 2026, excluding the impacts of non-recurring items, compared with the year-ago quarter’s loss of six cents. The figure was wider than the Zacks Consensus Estimate of a loss of five cents. Including non-recurring items such as fair value loss on equity securities, the company posted a loss of 11 cents in the quarter. Uranium Energy's earnings miss largely mirrored a heavier cost structure as the company advanced multiple initiatives at once, from mine development to the buildout of its broader U.S. fuel-cycle ambitions. Uranium Energy reported no sales in the third quarter of fiscal 2026 as the company did not record any purchased-uranium inventory sales in the period. During the quarter, the company produced 32,195 pounds of uranium concentrate produced at a total cost of $54.61 per pound, including a cash cost per pound of $46.69. Uranium Energy stayed focused on building optionality around its uranium inventory and ISR ramp. As of April 30, 2026, the company held 1,456,000 pounds of purchased uranium concentrate inventory. Total operating costs rose 73.8% year over year to $40.8 million, driven primarily by mineral property expenditure of $29.5 million (up 88.4% from $15.7 million). General and administrative expenses were $9.43 million compared with $6.38 million, while depreciation, amortization and accretion totaled $1.82 million compared with $1.41 million. As a result, Uranium Energy posted an operating loss of $40.8 million, wider than the $23.5-million operating loss incurred in the year-ago quarter. Operationally, Uranium Energy reached a milestone by commencing production at its Burke Hollow IRS project, a greenfield ISR asset that is moving from development into early production activities. At Burke Hollow, the company said that the uranium recovery process was initiated with oxygen and carbon dioxide injection, and it commissioned a satellite ion-exchange plant with 2,500 gallons per minute of capacity. It also completed and tested an additional 46 wells in phase 1A as it built out field infrastructure. The company is also projecting higher production rates in the fiscal fourth quarter, with new header houses and Burke Hollow expected to operate for a full quarter. Uranium Energy exited the quarter with $794 million in liquid assets and no debt, underscoring a balance sheet positioned to fund development across multiple hubs. Cash and cash equivalents totaled $488 million at April 30, 2026, compared with $149 million at the end of July 31, 2025. In the first nine months of fiscal 2026, net cash used in operating activities was $90 million compared with an outflow of $41 million in the year-ago quarter. Management expects production to increase in the fourth quarter of fiscal 2026 as Christensen Ranch header houses and Burke Hollow contribute for the full quarter. Unit costs are expected to decline as volumes. Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions. Currently, Uranium Energy has a poor Growth Score of F, a score with the same score on the momentum front. Following the exact same course, the stock has a score of F on the value side, putting it in the bottom 20% quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in. Uranium Energy has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Uranium Energy Corp. (UEC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Uranium Energy Corp. UEC used its third-quarter call to press a longer-term growth case despite a weak reported quarter. Management’s message centered on new production coming online, a sizable liquidity cushion and a broader push to build a vertically integrated U.S. uranium fuel chain. The quarter itself was pressured by lower output, higher unit costs and no revenues, producing a miss versus the Zacks Consensus Estimate on both EPS and sales. Even so, executives repeatedly steered investors toward what they see as a stronger fourth quarter and a deeper pipeline of permitted assets. President and CEO Amir Adnani framed Burke Hollow as the quarter’s defining milestone. He said the South Texas project began production on April 8 and called it the largest greenfield in-situ recovery uranium project to enter production in the United States in more than a decade. Management used that milestone to reinforce a broader scarcity argument. Adnani said Burke Hollow’s 14-year path from discovery to production underscores the strategic value of fully permitted uranium projects and strengthens UEC’s claim that its portfolio gives it a competitive advantage in a market where new domestic supply is hard to bring on. The presentation added more operating detail, noting that the satellite ion-exchange plant was commissioned and phase 1A wellfield development continued, with additional wells completed and tested. Management said Burke Hollow should contribute to reported production in the fiscal fourth quarter after only a limited impact in the third quarter. The main operational blemish was cost inflation tied to slower production. During the quarter, UEC produced 32,195 pounds of uranium concentrate at a total cost per pound of $54.61 and a cash cost per pound of $46.69 versus cumulative since-restart costs of $39.30 and $32.40, respectively, across 276,516 pounds. Adnani and CFO Josephine Man both attributed the higher quarterly unit costs mainly to the timing of regulatory approvals for new header houses and the fixed-cost nature of the business. Their argument was that expenses tied to new production areas were incurred before associated pounds were fully reflected in quarterly output. That explanation also framed management’s near-term outlook. Executives said new wellfields at Christensen Ranch and Burke Hollow should lift production in the fourth quarter and bring total and cash costs per pound down from third-quarter levels. Much of the call’s forward focus rested on Christensen Ranch and the surrounding Wyoming platform. UEC said it received approval for three additional header houses at the end of March, with five more under construction and another completed header house awaiting approval. In Q&A, senior vice president of U.S. Operations Brent Berg gave a more detailed look at the ramp. He said production in the third quarter came largely from wellfields 8 and 10, while the new wellfield 11 header houses only began contributing near quarter-end, setting up a more visible increase in the fourth quarter. Berg also highlighted the company’s operating build-out, saying the Wyoming and Texas workforce grew to 185 employees from 103 a year earlier, with more construction now handled internally rather than by contractors. That response suggested management sees execution capacity, not just resource depth, as part of the next growth phase. Another major theme was U.S. Uranium Refining & Conversion Corp., or URNC. Adnani cast the project as a response to a key Western fuel-cycle bottleneck and a way for UEC to become the only American vertically integrated uranium supplier spanning mining through conversion. The company said it received a docket number from the Nuclear Regulatory Commission, marking its first licensing milestone, and narrowed candidate locations to a final shortlist after discussions with the Department of Energy. The presentation said a formal license application will follow once engineering work with Fluor is completed and a site is chosen. Analysts pushed on timing, and Adnani offered more specificity in the Q&A than in prepared remarks. He said the next major conversion study should now be a first-half 2027 event, while stressing that updates on siting, strategic partners, government discussions, and potential utility offtake could come earlier. The sharpest scrutiny centered on regulatory delays, production cadence and the equity book’s effect on earnings volatility. Asked whether the latest production weakness simply extended prior delays, Adnani said the approvals did come through, but too late in the quarter to help reported output materially. On the income statement, Man said about $19 million of the quarter’s volatility came from changes in the fair value of equity securities. Management said it may increasingly emphasize adjusted EBITDA to help investors isolate underlying operations as the company develops a more regular sales cadence. That context mattered because reported third-quarter results were soft. UEC posted an adjusted loss of $0.07 per share, wider than the Zacks Consensus Estimate of a loss of $0.05 by 40%. The company reported no revenues against the consensus estimate of $8.5 million, reflecting a negative surprise of 100%. Uranium Energy Corp. price-consensus-eps-surprise-chart | Uranium Energy Corp. Quote The closing tone of the call was assertive, not defensive. Adnani repeatedly returned to three points: UEC’s large U.S. resource base, its expanding hub-and-spoke production system, and its debt-free balance sheet. Liquid assets stood at $794 million on April 30, including $488 million of cash, while uranium inventory totaled about 1.4 million pounds of U3O8, excluding additional in-process material at Irigaray. Management said that the balance sheet supports its unhedged strategy and lets it preserve inventory rather than sell into weaker pricing conditions. UEC currently carries a Zacks Rank #4 (Sell), which signals weaker near-term earnings estimate revision trends. That matters most in the Zacks framework, even when a stock has some favorable style characteristics. The company has a Value Score of F, Growth Score of F, Momentum Score of B and a VGM Score of F. A stronger Style Score is most useful when paired with a Zacks Rank #1 (Strong Buy) or 2 (Buy), while stocks rated 4 or 5 (Strong Sell) are not considered attractive buys regardless of Style Score strength. That leaves UEC with limited support from the current score mix, though the Zacks Rank can change as estimate revisions move after the quarter. You can see the complete list of today’s Zacks #1 Rank stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Uranium Energy Corp. (UEC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Uranium Energy Corp. recently reported a wider quarterly net loss of US$52.34 million and zero Q3 revenue, even as it produced 32,195 pounds of uranium concentrate and advanced multiple U.S. in-situ recovery projects, including the start of production at the Burke Hollow mine in South Texas. The company’s decision to preserve its uranium inventory for potential future pricing rather than sell into a softer spot market, while simultaneously pushing ahead with mine development and a U.S. conversion facility, highlights a high-cost, build-and-hold phase that is weighing on near-term profitability. We’ll now examine how this choice to defer uranium sales, despite ramping production, affects Uranium Energy’s investment narrative and risk profile. Find 46 companies with promising cash flow potential yet trading below their fair value. To own Uranium Energy today, you need to be comfortable with a company that is deliberately trading short term earnings for operational scale and vertical integration. The key near term catalyst remains the ramp up of U.S. in situ recovery production, especially from Burke Hollow and Christensen Ranch, while the biggest current risk is that zero Q3 revenue and wider losses underline just how dependent the story is on future uranium prices and successful project execution. Among recent developments, the first Nuclear Regulatory Commission docket for United States Uranium Refining & Conversion Corp stands out. It pushes the planned conversion facility another step forward, directly tied to the catalyst of capturing more of the nuclear fuel value chain. At the same time, it also reinforces an existing risk: any permitting or cost setbacks in this new business line could compound the financial strain already visible in Uranium Energy’s Q3 results. Yet behind the production ramp and strong balance sheet, investors should also be aware that Uranium Energy’s all in bet on unhedged uranium prices means that if... Read the full narrative on Uranium Energy (it's free!) Uranium Energy's narrative projects $352.2 million revenue and $120.8 million earnings by 2028. This requires 92.0% yearly revenue growth and a $198.6 million earnings increase from $-77.8 million today. Uncover how Uranium Energy's forecasts yield a $16.64 fair value, a 57% upside to its current price. Before this Q3 setback, the most optimistic analysts were assuming revenue could reach about US$607 million by 2029, but that view leans heavily on the same unhedged price exposure and aggressive multi hub ISR growth that now look more fragile after zero sales in the quarter, which shows how much opinions and forecasts might shift once this new information is fully reflected. Explore 17 other fair value estimates on Uranium Energy - why the stock might be worth less than half the current price! Don't just follow the ticker - dig into the data and build a conviction that's truly your own. A great starting point for your Uranium Energy research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision. Our free Uranium Energy research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Uranium Energy's overall financial health at a glance. Markets shift fast. These stocks won't stay hidden for long. Get the list while it matters: We've uncovered the 8 dividend fortresses yielding 5%+ that don't just survive market storms, but thrive in them. Uncover the next big thing with 24 elite penny stocks that balance risk and reward. Outshine the giants: these 14 early-stage AI stocks could fund your retirement. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include UEC. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Uranium Energy Corp. UEC ended the third quarter of fiscal 2026 with an adjusted loss of 7 cents per share, excluding the impacts of non-recurring items, compared with the year-ago quarter’s loss of 6 cents. The figure was wider than the Zacks Consensus Estimate of a loss of 5 cents. Including non-recurring items, the company posted a loss of 11 cents in the quarter. UEC’s earnings miss largely mirrored a heavier cost structure as the company advanced multiple initiatives at once, from mine development to the buildout of its broader U.S. fuel-cycle ambitions. Uranium Energy Corp. price-consensus-eps-surprise-chart | Uranium Energy Corp. Quote Uranium Energy reported no sales in the third quarter of fiscal 2026 as the company did not record any purchased-uranium inventory sales in the period.Instead, UEC stayed focused on building optionality around its uranium inventory and in-situ recovery (“ISR”) ramp. As of April 30, 2026, the company held 1,456,000 pounds of purchased uranium concentrate inventory and highlighted a 1.46-million-pound U3O8 inventory position, alongside a strategy that keeps it 100% unhedged to uranium prices. Total operating costs rose 73.8% year over year to $40.8 million, driven primarily by mineral property expenditure of $29.5 million (up 88.4% from $15.7 million). General and administrative expenses were $9.43 million compared with $6.38 million, while depreciation, amortization and accretion totaled $1.82 million compared with $1.41 million.As a result, Uranium Energy posted an operating loss of $40.8 million, wider than the $23.5-million operating loss incurred in the year-ago quarter. Operationally, Uranium Energy reached a milestone by commencing production at its Burke Hollow IRS project, a greenfield ISR asset that is moving from development into early production activities.At Burke Hollow, the company said that the uranium recovery process was initiated with oxygen and carbon dioxide injection, and it commissioned a satellite ion-exchange plant with 2,500 gallons per minute of capacity. It also completed and tested an additional 46 wells in phase 1A as it built out field infrastructure.UEC has also been positioning for higher production rates in the fiscal fourth quarter, with new header houses and Burke Hollow expected to operate for a full quarter. UEC exited the quarter with $794 million in liquid assets and no debt, underscoring a balance sheet positioned to fund development across multiple hubs.Cash and cash equivalents totaled $488 million at April 30, 2026, compared with $149 million at the end of July 31, 2025.In the first nine months of fiscal 2026, net cash used in operating activities was $90 million, while net proceeds from share issuances totaled $508.20 million, illustrating how equity financing continues to support expansion plans. Uranium Energy’s shares have surged 72% in the past year compared with the industry’s 46.5% growth. Image Source: Zacks Investment Research UEC currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Energy Fuels UUUU incurred a loss of 4 cents per share in the first quarter of 2026, which was wider than the Zacks Consensus Estimate of a loss of 3 cents. Energy Fuels had reported a loss of 13 cents in the year-ago quarter.Energy Fuels’ revenues increased a whopping 111% year over year to $36 million. The top-line beat of the Zacks Consensus Estimate of $33 million. Some better-ranked stocks from the basic materials space are Albemarle Corporation ALB and Avino Silver & Gold Mines Ltd. ASM. ALB sports a Zacks Rank #1 at present and ASM carries a Zacks Rank 2 (Buy). Albemarle has an average trailing four-quarter earnings surprise of 74.5%. The Zacks Consensus Estimate for the company’s 2026 earnings is pegged at $12.45 per share, indicating year-over-year growth from a loss of 79 cents. ALB shares have soared 181% so far this year. Avino Silver has an average trailing four-quarter earnings surprise of 125%. The Zacks Consensus Estimate for Avino Silver’s 2026 earnings is pegged at 39 cents per share, indicating 34.5% year-over-year growth. Its shares have surged 90.5% in a year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Albemarle Corporation (ALB) : Free Stock Analysis Report Energy Fuels Inc (UUUU) : Free Stock Analysis Report Uranium Energy Corp. (UEC) : Free Stock Analysis Report Avino Silver (ASM) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Uranium Energy Corp.? Here are five stocks we like better. Uranium Energy ramped up U.S. production in the quarter, starting production at Burke Hollow in South Texas and advancing Christensen Ranch in Wyoming. Management said Burke Hollow is the largest greenfield in-situ recovery uranium project to begin production in the U.S. in more than a decade. The company reported 32,000 pounds of uranium concentrate produced in Q3, with higher unit costs tied to delayed regulatory approvals and fixed-cost pressure. Executives said costs should ease as production increases at Burke Hollow and Christensen Ranch in coming quarters. Uranium Energy ended the period with $794 million in liquid assets and no debt, while also pushing ahead with its conversion initiative and critical minerals projects. It also held uranium inventory rather than selling during the quarter, citing its unhedged strategy and weak uranium prices. AI's Power Crunch Is Putting Uranium Energy Back on Investors' Watchlists Uranium Energy (NYSEAMERICAN:UEC) said on its latest earnings call that it advanced several parts of its U.S. uranium production platform during the quarter, including the start of production at Burke Hollow in South Texas and continued development at Christensen Ranch in Wyoming. Founder and Chief Executive Officer Amir Adnani characterized the quarter as a milestone period in the company’s effort to build what he called “America’s first and only vertically integrated uranium company,” spanning mining, processing, refining and conversion. He said Burke Hollow’s start-up was the largest greenfield in-situ recovery uranium project to enter production in the U.S. in more than a decade. → Meta Unveils Subscriptions: A New Offering With Real Growth Potential 3 Overlooked Nuclear Fuel Supply Chain Winners Adnani said Burke Hollow was discovered in 2012 and reached production in 2026, underscoring what he described as the scarcity and strategic value of permitted uranium mines. “It took 14 years to bring a new uranium mine online,” he said. During the third fiscal quarter, Uranium Energy produced 32,000 pounds of uranium concentrate at a total cost of $54.61 per pound, including a cash cost of $46.69 per pound. Adnani said costs rose during the quarter largely because regulatory approvals for new header houses arrived later than expected, while related costs were incurred before production volumes increased. → Planet Labs: Coming Back Down to Earth Uranium Energy’s Bull Case Is Starting to Look Real Since commissioning, the company has produced approximately 276,000 pounds at a total cost of $39.30 per pound, including a cash cost of $32.40 per pound, according to Adnani. He said that figure remains “a leader in the domestic industry.” At Christensen Ranch, the company received regulatory approval at the end of March for expanded production through three additional header houses. Adnani said Uranium Energy expects higher production rates in the fiscal fourth quarter as those areas contribute. The company also has five additional header houses under construction and one completed header house awaiting regulatory approval. → The Energy Trade Is Bigger Than Oil Prices: 3 Stocks to Buy and 2 to Sell In response to analyst questions about costs, Chief Financial Officer Josephine Man said a large portion of operating costs are fixed, making unit costs sensitive to production volumes. She said production from new well fields at Christensen Ranch and Burke Hollow should lead to lower costs per pound in coming quarters, though the company did not provide a specific cost target. Uranium Energy said Burke Hollow began production on April 8, 2026. Adnani said oxygen and carbon dioxide were injected into the well field to initiate uranium recovery, while the satellite ion exchange plant was commissioned and development continued in Phase 1A. The company expects Burke Hollow production to be reflected in fiscal fourth-quarter results. In Wyoming, Adnani said the company completed a 240-hole delineation drilling program at Ludeman, its next planned ISR operation. Engineering work for the satellite ion exchange plant progressed, with plant layout and pad design largely finalized and ion exchange vessel fabrication ahead of schedule. At Sweetwater, Uranium Energy’s third hub-and-spoke production platform, the company completed a 200-hole delineation drilling program in the first two planned well fields. A second 200-hole program is scheduled to begin in July 2026 in the area planned for the third ISR well field. Adnani said ion exchange vessels for the Sweetwater ISR circuit are under construction. In Saskatchewan, Canada, Uranium Energy continued work at Roughrider, which Adnani described as one of the highest-grade undeveloped uranium projects in the world. More than 80% of a planned 35,000-meter drilling program has been completed to support a pre-feasibility study. In the question-and-answer session, Adnani said the company is estimating completion of the Roughrider pre-feasibility study toward the end of the calendar year. Adnani said Uranium Energy ended the quarter with $794 million in liquid assets, including $488 million in cash, uranium inventory and equities, with no debt. As of April 30, 2026, the company held 1.4 million pounds of U3O8 valued at approximately $127 million at current market prices, excluding approximately 277,000 pounds of precipitated uranium and dried and drummed U3O8 held at the Irigaray Central Processing Plant. The company did not sell uranium during the quarter. Adnani said that decision reflected Uranium Energy’s “100% unhedged strategy,” allowing it to be selective about sales timing. He said the company preserved inventory amid what he described as weakness and flat movement in uranium prices during the period. Analysts also asked about volatility in the company’s equity holdings. Adnani said the equity book is strategically positioned in uranium-sector names but creates quarterly mark-to-market volatility. Man said about $90 million was attributed to changes in the fair market value of equity securities during the quarter and said adjusted EBITDA reconciliation may help investors better understand operating results going forward. Uranium Energy also highlighted progress at United States Uranium Refining and Conversion Corp., or UR&C, its wholly owned subsidiary focused on uranium refining and conversion. Adnani said uranium conversion remains an acute bottleneck in the Western nuclear fuel cycle, with insufficient commercial UF6 capacity outside Russia and China. During the quarter, UR&C received a docket number from the U.S. Nuclear Regulatory Commission, which Adnani described as the company’s first NRC licensing milestone. He said discussions with the U.S. Department of Energy led the company to add candidate locations to align with federal priorities, and that Uranium Energy has now developed a final shortlist of potential locations. Adnani said engineering work led by Fluor has expanded into a new phase supporting facility design, siting, licensing and development. In response to a question from National Bank Capital Markets analyst Kristian Koschany, Adnani said the next phase of study, expected to support a Class 4 cost estimate, should be a first-half 2027 event. The company also pointed to the U.S. Department of Energy’s “Nuclear Dominance 3 x ’33” campaign, which Adnani said is aimed at securing the domestic nuclear fuel supply chain, accelerating advanced reactor deployment and using the Defense Production Act framework to support workforce development, financing innovation and industry collaboration. Adnani also discussed Uranium Energy’s critical minerals assets, including Alto Parana in Paraguay and the West Bear cobalt-nickel project in Canada. He said a recently completed independent report concluded that Alto Parana represents a globally significant critical minerals platform with potential to contribute to U.S. supply chain diversification for titanium and vanadium. Adnani said the project’s attributes include its location in a U.S.-aligned partner country, access to clean and low-cost power, and potential integration into U.S. and allied downstream processing supply chains. He said the company views its critical minerals portfolio as embedded value that it will seek to unlock through ongoing initiatives. In closing, Adnani said the company believes it is positioned for the next phase of uranium market growth through its resource base, production infrastructure and planned expansion across the nuclear fuel cycle. Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company's core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy's approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining. The company's primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Uranium Energy Q3 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for June 2026.

NYSE American: UEC Commenced Production at Burke Hollow, America's Largest Greenfield ISR Uranium Project UEC is Now Operating Two of its Three U.S. Hub-and-Spoke ISR Production Platforms, Anchored by the Largest Uranium Resource Base in the U.S. $794 Million of Liquid Assets(1) and No Debt Building America's Only Vertically Integrated Uranium Fuel Supply Chain from Mining through Refining and Conversion Fiscal Q3 2026 Operational Highlights: Operations Commenced at Burke Hollow ISR Project: America's largest greenfield in-situ recovery ("ISR") project to come into production in over a decade started operations in South Texas. Maintaining Low-Cost Production Profile: During the quarter, 32,195 pounds of uranium concentrate were produced at a Total Cost per Pound(2) of $54.61, including a Cash Cost per Pound(2) of $46.69. Total Cost per Pound rose in the third quarter primarily due to lower production resulting from timing of regulatory approvals for new header houses that started operating later in the quarter and an increase in State taxes. Since commissioning, UEC's Total Cost per Pound remains a leader in the domestic industry at $39.30, including a Cash Cost per Pound of $32.40, across 276,516 pounds. Received Regulatory Approval for Expanded Production at Christensen Ranch: Three new header houses in Wellfield 11 began production towards the end of the quarter. Five additional header houses are under construction and one additional header house is complete, awaiting regulatory approval. Continued Production Ramp Up: Production rates are expected to increase in the fourth fiscal quarter with new header houses at Christensen Ranch and Burke Hollow operational for the full quarter. Advancing Towards Construction at the Ludeman Project: The 240-hole delineation drilling program was completed. Ludeman is planned to be the Company's third operating ISR uranium mine and designed to feed the Irigaray Central Processing Plant ("CPP"). Sweetwater Delineation Drill Program Completed: A 200-hole delineation drilling program in the first two planned wellfields at Sweetwater was completed. Roughrider Pre-Feasibility Progressing: Core drilling is over 80% complete to support a planned pre-feasibility study ("PFS") for the world class Roughrider Project located in the Athabasca Basin of Saskatchewan, Canada. United States Uranium Refining & Conversion Corp ("UR&C"): Achieved its first U.S. Nuclear Regulatory Commission ("NRC") licensing milestone with receipt of a Docket Number for its planned uranium conversion facility. Ongoing discussions with the U.S. Department of Energy ("DOE") regarding strategic nuclear fuel cycle infrastructure has led UR&C to broaden its site selection process. Additional candidate locations were added to ensure alignment with federal priorities to restore domestic uranium conversion capacity and strengthen America's nuclear fuel supply chain. This work has culminated in the identification of a final shortlist of candidate locations. Concurrently, work led by Fluor Corporation ("Fluor") is advancing into a new phase with the significant expansion of engineering and technical resources supporting facility design, siting, licensing and development. Critical Minerals Portfolio Update: A recently completed independent report concluded that UEC's Alto Paraná Titanium and Vanadium Project in Paraguay represents a globally significant critical minerals platform. The study determined the project has potential to materially contribute to the security and diversification of U.S. supply chains for titanium and vanadium. The report also reinforces the value of UEC's disciplined approach to identifying, acquiring and developing assets aligned with national security, advanced manufacturing and resilient critical minerals supply chains. The report was conducted by TZ Minerals International PTY LTD ("TZMI"), a global leader in titanium and critical minerals market intelligence, which evaluated the project and its positioning within the U.S. critical materials framework. Fiscal Q3 2026 Financial Highlights: Robust Balance Sheet: $794 million in liquid assets(1), including cash of $488 million, with no debt. Strategic Inventory Position in a Tightening Market: 1,456,000 pounds of U₃O₈ at April 30, 2026, valued at $127 million at market prices(1), excluding 276,516 pounds of precipitated uranium and dried and drummed U3O8 at the Irigaray CPP. The Company maintained its uranium inventory during the quarter, preserving pricing optionality and full exposure to uranium prices through its 100% unhedged strategy. U.S. Uranium Policy Developments: Department of Energy Initiative – Nuclear Dominance "3 by 33" Campaign: On April 23, 2026, the DOE, through its Office of Nuclear Energy and the Defense Production Act ("DPA") Nuclear Fuel Cycle Consortium, launched the "Nuclear Dominance — 3 by 33" campaign to secure the United States' nuclear fuel supply chain and support future reactor deployment. The campaign is structured around three core objectives to be achieved by 2033: (1) catalyzing a secure and cost-competitive domestic nuclear fuel supply chain across all stages, including mining and milling, conversion, enrichment and recycling; (2) accelerating advanced reactor deployment while progressing toward a closed fuel cycle; and (3) leveraging the DPA framework to align workforce development, financing, innovation and industry collaboration in support of a nuclear buildout. This initiative represents a coordinated federal-industry effort to address critical gaps across the nuclear fuel cycle and reduce reliance on foreign sources, while enabling the long-term expansion of U.S. nuclear energy capacity. CORPUS CHRISTI, TX, June 9, 2026 /CNW/ - Uranium Energy Corp (NYSE American: UEC) (the "Company" or "UEC") is pleased to announce that it has filed its Quarterly Report on Form 10-Q for the quarter ended April 30, 2026. Amir Adnani, President and CEO, stated: "During the quarter, we achieved a series of defining milestones that reflect both the strength of our execution along with the depth and scale of our asset base. We commenced production at Burke Hollow, America's largest greenfield ISR project to enter production in more than a decade. This marked a major step forward for UEC in expanding domestic uranium supply. At Christensen Ranch, we began production from new header houses while continuing to build additional capacity, reinforcing our phased approach to disciplined growth. At the same time, we continued to advance Ludeman, our next planned ISR uranium operation, completing delineation drilling and engineering work. Financially, we remain exceptionally well positioned with a strong balance sheet, significant liquidity, no debt and a growing inventory base that supports our ability to execute our business strategy. This balance sheet, combined with our unique unhedged strategy, provides the flexibility to be selective in the execution of sales, as demonstrated in this third quarter where we preserved our inventory. Importantly, these achievements come amid a broader national shift, highlighted by the DOE's 'Nuclear Dominance - 3 by 33' initiative, which underscores the urgency of rebuilding a secure, domestic fuel supply chain. We are proud to be contributing to this mission by advancing the largest U.S. uranium resource base and addressing the acute bottleneck in conversion through UR&C. These efforts are building the foundation for a strong, domestic nuclear fuel cycle in America." Powder River Basin, Wyoming, Hub-and-Spoke ISR OperationsHub: Irigaray CPP; Spokes: Christensen Ranch and Ludeman As of April 30, 2026, total cumulative production from Christensen Ranch was approximately 277,000 pounds of precipitated uranium and dried and drummed U3O8 at the Irigaray CPP at a Total Cost per Pound of $39.30, including a Cash Cost per Pound of $32.40. In the third fiscal quarter, 32,195 pounds of uranium were produced at Christensen Ranch at a Total Cost per Pound of $54.61, including a Cash Cost per Pound of $46.69. Total Cost per Pound increased from $44.14 in the prior quarter as a result of lower production due to timing of regulatory approvals for new header houses that started operating later in the quarter and an increase in State taxes. The latter stems from an increase in the industry factor used by the Wyoming Department of Revenue to value extracted uranium for severance and ad valorem tax purposes. Production‑Based Royalties, Ad Valorem and Severance Tax per Pound(2) increased from $6.67 in the second quarter to $8.11 in the third quarter of fiscal 2026 as a result of the increase in State taxes. On March 23, 2026, the Company announced that it had secured State regulatory approval and commenced operating three additional header houses in Wellfield 11 at Christensen Ranch. Preconditioning of Wellfield 11 started thereafter, followed by carbon dioxide and oxygen injection to initiate the uranium recovery process. At the end of April, a small amount of uranium extracted from Wellfield 11 had reached the precipitation stage. As a result, preconditioning, leaching and precipitation costs were capitalized as production costs for the quarter, while the associated production volume from Wellfield 11 has yet to be fully reflected. This timing difference also contributed to the increase in Total Cost per Pound reported for the quarter. With new header houses online for the full quarter, production is expected to increase in the fourth fiscal quarter, which is expected to lower Total Cost per Pound at Christensen Ranch. The Company continued to develop new production areas at Christensen Ranch during the quarter. One header house in Wellfield 11 is complete and is awaiting regulatory approval. Five more header houses are under construction in Wellfields 12 and 10-extension. Additionally, baseline water quality sampling was completed in Wellfield 10-extension. At Ludeman, UEC's third ISR project, the previously announced 240-hole delineation drill program was completed. This work will assist wellfield pattern design currently underway. Additionally, core samples were collected for subsequent laboratory testing. Engineering work for the satellite ion-exchange plant progressed with the plant layout and pad design largely finalized and with fabrication of the ion-exchange vessels ahead of schedule. The engineering team continues to advance the remainder of the mechanical equipment specifications, which allows the Company to begin the procurement process for longer lead time equipment. Uranium captured on ion-exchange resin at the Ludeman satellite plant will be transported to the Company's Irigaray CPP, UEC's hub in the Powder River Basin, for stripping, precipitation, drying and packaging. South Texas Hub-and-Spoke ISR OperationsHub: Hobson CPP; Spoke: Burke Hollow On April 8, 2026, the Company announced that it had received approval from the Texas Commission on Environmental Quality and commenced production at the Burke Hollow project in South Texas. In order to initiate the uranium recovery process, oxygen and carbon dioxide were injected into the wellfield and will provide initial feed to the ion-exchange plant. Burke Hollow is anticipated to contribute to production in the fiscal fourth quarter of 2026. Burke Hollow's satellite ion-exchange plant, including columns, resin and water treatment systems with an overall capacity of 2,500 gallons per minute was commissioned in the fiscal third quarter. Wellfield development continued in phase 1A. An additional 46 wells were completed and tested for mechanical integrity facilitating installation of pumps and related piping and infrastructure. The main trunkline, piping and valves have been installed and tested, as well as piping for oxygen delivery to the field. Sweetwater, Wyoming, Hub-and-Spoke Development At Sweetwater, another permitting milestone was achieved in the FAST-41 federal permitting process with the finalization of the Bureau of Land Management's ("BLM") completeness review of UEC's Plan of Operations for ISR operations. BLM's 30-day public comment period for the Plan of Operations began on March 16, 2026 and ended April 17, 2026. Comments will be evaluated during the National Environmental Policy Act process, which began in June 2026. A 200-hole delineation drilling program in the first two planned wellfields at Sweetwater commenced in March and was completed in early May for the Sweetwater North area where wellfield pattern planning has commenced. A second 200-hole delineation drilling program is scheduled to begin in July 2026 where the third ISR wellfield at Sweetwater is planned. The Company has commenced the assessment of refurbishment requirements for the Sweetwater Mill for both conventional and ISR operations. Ion-exchange vessels for the Sweetwater ISR circuit are under construction. Roughrider Project, Saskatchewan As part of the planned pre-feasibility study at the Roughrider Project, the Company has substantially completed a 35,000-meter conversion core drilling program. This included resource targets across the West Zone, East Zone and Far East Zone, aiming to convert inferred estimated resources into the indicated category at the Roughrider Project. 80% of the planned drilling has been completed to date. UEC has engaged Tetra Tech Canada Inc. to provide lead technical services for the preparation of the PFS. Process flow diagrams, mass and water balance drawing and process equipment lists have been completed. Concurrently, UEC has provided an electrical load list and a transmission interconnection service request to SaskPower for a Definition Phase Agreement connecting high-voltage power to the Roughrider Project. The Company continues to advance Roughrider through technical and environmental studies, community engagement and assessing opportunities to further de-risk the project. The processes of updating the environmental baseline work and Indigenous engagement supports a future Environmental Impact Assessment and licensing required for uranium production. United States Uranium Refining & Conversion Corp (UR&C) During the quarter, UEC announced that UR&C had received a Docket Number from the U.S. NRC for its planned uranium conversion facility. This step represents a significant milestone for UEC on its path to becoming the only American vertically integrated nuclear fuel supplier, from mining through conversion and supports the resiliency of the U.S. nuclear fuel supply chain. The formal license application is expected to be submitted once engineering and design activities, currently underway with Fluor, are complete and a site has been selected. Following ongoing discussions with the DOE regarding strategic nuclear fuel cycle infrastructure, UR&C broadened its site selection process to evaluate additional candidate locations and ensure alignment with federal priorities for restoring domestic uranium conversion capacity and strengthening America's nuclear fuel supply chain. This work has culminated in the identification of a final shortlist of candidate locations. Concurrently, work led by Fluor is advancing into a new phase in their Greenville, South Carolina offices, with a significant expansion of engineering and technical resources supporting facility design, siting, licensing and development. Alto Paraná Titanium and Vanadium Project, Paraguay The Alto Paraná Project hosts a globally significant titanium resource. UEC commissioned TZMI to review the project's positioning within the U.S. critical materials framework. TZMI reviewed the potential opportunity and the previously disclosed resource estimate and initial assessment ("PEA") disclosed by the Company in November 2023(4). In its recently completed report, TZMI identified the project's unique strategic fit, including being located in a U.S. aligned partner country, its access to clean, low-cost power and its ability to integrate into U.S. and allied downstream processing supply chains. It also highlighted that Alto Paraná presents an opportunity to directly address three structural vulnerabilities in U.S. critical minerals policy, being its current near-total reliance on imported titanium sponge feedstock, the high concentration of vanadium unit supply from a limited number of jurisdictions and the limited availability of large-scale, allied supply sources within the Western Hemisphere. The PEA and this new report highlight the unique advantages of this world-class, large-scale ilmenite deposit, including its high grade, surface accessibility and low-cost, low-carbon advantages supported by proximity to hydroelectric power, enabling long-life production. The PEA evaluated two development scenarios based on estimated indicated and inferred mineral resources. The first scenario yielded a net present value discounted at 8% ("NPV8") of $419 million with a 21% post-tax internal rate of return ("IRR") utilizing less than 0.2% of the regional resource per year. The second, larger-scale scenario set out a NPV8 of $1.55 billion with a 25% post-tax IRR utilizing less than 0.7% of the regional resource per year(3). The project hosts an estimated inferred mineral resource of 3.58 billion tonnes at an average grade of approximately 7.3% TiO₂ and an estimated indicated mineral resource of 70 million tonnes at an average grade of approximately 7.6% TiO2(4). For further information regarding the project, including the PEA and resource estimate, please refer to the technical report summary titled "Technical Report Summary – Initial Assessment: Alto Paraná titanium project" dated November 2023, included in the Company's Current Report on Form 8-K dated November 13, 2023 and available under its profile at www.sec.gov. Conference Call Details A conference call will be held at 11:00 a.m. ET (8:00 a.m. PT) on Tuesday, June 9, 2026, to discuss the Company's results, upcoming catalysts and current market conditions. To participate, please use one of the following methods: Webinar: Click HereNorth America (toll-free): 1-877-270-2148International: 1-412-902-6510 An accompanying presentation will be available on UEC's website at www.uraniumenergy.com and a replay of the event will be available following the presentation. For further information, please refer to the Company's Quarterly Report on Form 10-Q for the quarter ended April 30, 2026, which includes the Company's unaudited interim condensed consolidated financial statements and management's discussion and analysis, and is available on the Company's website at www.uraniumenergy.com and under its profile at www.sec.gov. Notes: As at April 30, 2026. Liquid assets consist of cash, equity securities, subscription receipts and uranium inventories. Does not include inventory in-process or dried and drummed concentrate at the Irigaray CPP. Market values for securities are based on applicable closing prices on April 30, 2026 and for uranium inventories are based on the spot price quoted from UxC at ConverDyn on such date. Total Cost per Pound, Cash Cost per Pound and Production‑Based Royalties, Ad Valorem and Severance Tax per Pound are not measures of financial performance under accounting principles generally accepted in the United States ("GAAP") and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. See "Non-GAAP Measures" below. The assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have modifying factors applied to them that would enable them to be categorized as mineral reserves and there is no certainty that this economic assessment will be realized. Reported grades are expressed as in-situ whole rock TiO2 grades. About Uranium Energy Corp Uranium Energy Corp is America's largest and fastest growing uranium company. The Company controls the largest uranium resource base and the most licensed production capacity in the United States, totaling approximately 12 million pounds per year across its Wyoming and South Texas platforms. In Canada, the Company controls one of the most extensive land and resource portfolios in the Athabasca Basin, anchored by the Roughrider Project in Saskatchewan. Through its wholly owned subsidiary, United States Uranium Refining & Conversion Corp, UEC is pursuing domestic refining and conversion capabilities to further strengthen the U.S. nuclear fuel supply chain. UEC maintains a 100% unhedged uranium strategy, providing full exposure to uranium market fundamentals. The Company is managed by professionals with decades of experience across uranium exploration, development, production and fuel cycle infrastructure. Stock Exchange Information:NYSE American: UECWKN: A0JDRRISIN: US9168961038 Non-GAAP Measures This news release includes reference to "Total Cost per Pound", "Cash Cost per Pound", "Non-Cash per Pound" and "Production‑Based Royalties, Ad Valorem and Severance Tax per Pound", which do not have standardized meanings under GAAP. We define: (i) Total Cost per Pound as the addition to in-process inventory and uranium concentrates from extraction (each a component of inventories on the consolidated balance sheets) for the applicable period divided by the quantity (in pounds) of precipitated uranium and dried and drummed U3O8 produced in such period; (ii) Cash Cost per Pound as the addition to in-process inventory and uranium concentrates from extraction (each a component of inventories on the consolidated balance sheets), excluding depreciation, depletion and amortization, for the applicable period divided by the quantity (in pounds) of precipitated uranium and dried and drummed U3O8 in such period; (iii) Non-Cash Cost per Pound as the difference between Total Cost per Pound and Cash Cost per Pound; and (iv) Production‑Based Royalties, Ad Valorem and Severance Tax per Pound (a component of Cash Cost per Pound) as the production‑based royalties, ad valorem and severance tax accrued for the applicable period divided by the quantity (in pounds) of precipitated uranium and dried and drummed U3O8 produced in such period. We believe that, in addition to conventional measures prepared in accordance with GAAP, certain investors and other stakeholders also use this information to evaluate our operating and financial performance. The use of these performance measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Our definition of these measures may differ from other mining companies and therefore may not be comparable. These non-GAAP measures should be read in conjunction with our consolidated financial statements for the applicable periods. Cautionary Statement Regarding Forward-Looking StatementsThis news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. Forward-looking statements often address our expected future business and financial performance and financial condition; and often contain words such as "anticipate," "intend," "plan," "will," "would," "estimate," "expect," "believe," "pending" or "potential." Forward-looking statements in this news release include, without limitation, statements regarding: the Company's expectations for its projects, including future work programs, regulatory approvals and planned development activities, expectations regarding the Alto Paraná Project, expectations regarding uranium markets and demand, the proposed PFS at Roughrider, the impacts of governmental initiatives and the Company's plans and goals respecting UR&C and the proposed development of refining and conversion capabilities. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, which could cause actual results to differ materially. These risks and uncertainties may include, among others: proposed exploration and development activities may not produce anticipated results; variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of necessary capital, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations; any deterioration in political support for nuclear energy or uranium mining; changes in government regulations and policies; changes in demand for nuclear power; any failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and the other risk factors set forth in the Company's most recent annual report on Form 10-K and its other filings with the Securities and Exchange Commission, available under its profile at www.sec.gov. Many of these factors are beyond the Company's ability to control or predict. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. Any forward-looking statement speaks only as of the date on which it's made and the Company does not undertake any obligation to release publicly revisions to any forward-looking statement, to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. 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This article first appeared on GuruFocus. Release Date: June 09, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Uranium Energy Corp (UEC) successfully commenced production at the Burke Hollow project, marking the largest greenfield ISR uranium project to come into production in the US in over a decade. UEC operates two of its three US hub-and-spoke ISR production platforms, controlling the largest uranium resource base in the United States, which supports long-term production growth. The company maintains a strong balance sheet with $794 million in liquid assets, including $488 million in cash, and no debt, allowing for strategic flexibility. UEC's unhedged strategy enables the company to sell uranium opportunistically, capturing industry-leading realized pricing and generating meaningful returns for shareholders. The company is advancing its United States Uranium Refining and Conversion Corp (URNC) project, aligning with US energy independence and national security priorities, and has made significant progress in licensing and site selection. Production costs increased during the quarter, with a total cost per pound of $54.61, due to regulatory delays and timing-related events. Regulatory delays impacted production volumes, as approvals for new header houses were received late in the quarter, affecting cost efficiency. The uranium market's volatility, particularly in equity holdings, has contributed to fluctuations in UEC's financial results, creating challenges in predictability. The company faces ongoing challenges in streamlining regulatory approvals, which could impact future production timelines and costs. Despite progress, the URNC project is not expected to reach a significant milestone until 2027, indicating a long timeline before potential revenue generation from this initiative. Warning! GuruFocus has detected 2 Warning Signs with UEC. Is UEC fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide more details on the cost normalization expected in fiscal Q4 and beyond, and what factors are influencing these costs? A: Amir Adnani, CEO, explained that a large portion of operating costs are fixed, so when production volumes are temporarily lowered due to timing of well field approvals, unit costs are impacted. The total cost per pound over 276,000 pounds produced is competitive, with a cash cost per pound of $32.40. As production increases in fiscal Q4, costs are expected to improve. Josephine Mann, CFO, added that increased production in coming quarters will lower costs per pound. Q: With the new header houses at Christensen Ranch and Burke Hollow, what is the expected increase in production volumes? A: Amir Adnani, CEO, noted that there is a linear relationship between the construction of new header houses and increased production. Brent Berg, SVP of US Operations, added that the team has grown significantly, allowing more in-house construction, which will lead to increased production as new header houses come online. Q: How are regulatory delays affecting production, and what is being done to address them? A: Amir Adnani, CEO, acknowledged that regulatory delays have impacted production but noted that approvals have been received, resolving these delays. Brent Berg, SVP of US Operations, mentioned that state regulatory agencies are collaborating to address longer lead times, and UEC is maintaining dialogue with agencies to advance well field development. Q: Can you provide an update on the URNC project and its timeline? A: Amir Adnani, CEO, stated that the URNC project is advancing into the next phase of engineering, siting, and licensing. The project aligns with US priorities to create a resilient nuclear fuel cycle. The next major milestone, a class 4 cost study, is expected in the first half of 2027. Q: How is the performance of Christensen Ranch compared to initial expectations? A: Amir Adnani, CEO, stated that Christensen Ranch has performed better than expected, with industry-leading production costs. The efficiency of the operation and quality of the team have contributed to these results, and the company is confident in expanding the project further. For the complete transcript of the earnings call, please refer to the full earnings call transcript.