Uranium Energy dips on stock offering launch

Uranium Energy

03/10/2025 12:51

** Uranium Energy's UEC.A shares down 3% premarket to $13.27 as co seeks equity raise

** Corpus Christi, Texas-based UEC launches 15.5 mln share offering

** Co intends to use net offering proceeds to accelerate development of a new, American uranium refining and conversion facility, and for other purposes

** Goldman Sachs is sole underwriter

** On Sept 2, UEC announced the launch of the facility through its wholly-owned subsidiary, United States Uranium Refining & Conversion Corp

** UEC, which has three hub and spoke platforms in South Texas and Wyoming, didn't disclose the site for the new facility

** With ~465.3 mln shares outstanding as of Oct 3, per the prospectus, co has about $6.4 bln market cap

** Shares on Thurs closed up 5.3% at $13.68, up ~104% YTD. Stock hit record intra-day high of $15.05 on Sept 24

** 7 of 8 analysts rate the stock "buy" and 1 rates "hold"; median PT is $15.75, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))