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Investing.com - Northland initiated coverage on UR-Energy (NYSE:URG) with a Buy rating and a price target of $2.15 on Monday. According to InvestingPro data, analysts’ price targets for URG range from $1.80 to $3.00, with the stock currently trading at $1.60.
The research firm identified UR-Energy as one of the few current uranium producers in the United States, noting the company is actively increasing its production capacity.
Northland expects UR-Energy to achieve production growth of 279% from the second quarter of 2025 to the fourth quarter of 2026, positioning the company to capitalize on favorable uranium market conditions.
The firm expressed a bullish outlook on uranium prices, citing accelerating nuclear power deployments coupled with recent underinvestment in uranium supply as key market drivers.
Northland’s $2.15 price target is based on a uranium price model that projects prices to reach $100 per pound by 2030.
In other recent news, Ur-Energy Inc. has filed a prospectus supplement to register the issuance of common shares upon the exercise of certain warrants originally issued in 2023. The company clarified that no new warrants were issued in connection with this filing, focusing solely on shares issuable under existing warrants. The legal opinion of Fasken Martineau DuMoulin LLP regarding this issuance has been included in the SEC filing as an exhibit. Separately, H.C. Wainwright has reiterated its Buy rating for Ur-Energy, maintaining a price target of $2.70. This reaffirmation followed an analyst site visit to the company’s Shirley Basin project in Wyoming. The visit included a tour of the site and discussions with CEO John Cash and other senior management members. These developments reflect ongoing activities and assessments concerning Ur-Energy’s operations and market position.
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