H.C. Wainwright slightly increases PT on Energy Fuels

Energy Fuels

08/10/2024 15:11

(Updates)
    ** H.C. Wainwright raises uranium miner Energy Fuels'
 UUUU.A  PT to $10.75 from $10.50 while it reiterates "buy"
rating
    ** Shares of co marginally down 0.3% at $5.39 in early
morning trade
    ** Co announced completion of its acquisition of Base
Resources  BSE.AX  for ~$178.4 mln on Oct. 2
    ** Brokerage expects deal "to provide a variety of
synergies"
    ** Newly acquired Toliara Project to also increase co's
supply of raw materials and "significantly improve its internal
supply chain and costs" - H.C. Wainwright
    ** Co's management has created significant supply chain for
low-cost rare-earth elements and critical minerals that should
bring processing capabilities for them back to the U.S. -
brokerage
    ** Including session moves, stock is down ~25.1% YTD

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com))