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Debra Bennethum, Vice President of Critical Minerals and Strategic Supply Chain at Energy Fuels (TSX:EFR) Inc. (NYSE:UUUU), recently acquired 3,700 common shares of the company. The insider purchase comes as the stock trades near $4.19, down about 21% year-to-date, according to InvestingPro data. The shares were purchased at an average price of $4.0834 each, amounting to a total transaction value of $15,108. Following this acquisition, Bennethum holds 16,349 shares directly, with an additional 495 shares held in an Individual Retirement Account. Additionally, 3,700 shares are held indirectly by her spouse. This transaction highlights Bennethum’s continued investment in the company, which is involved in the mining and quarrying of nonmetallic minerals. While the company currently holds more cash than debt and maintains strong liquidity with a current ratio of 3.88, analysts anticipate sales decline in the current year. For deeper insights into insider trading patterns and comprehensive financial analysis, consider exploring the detailed Pro Research Report available on InvestingPro.
In other recent news, Energy Fuels reported its financial results for 2024, revealing a total revenue of $78.1 million and a net loss of $47.8 million, or ($0.28) per share. This contrasts with 2023, where the company had a revenue of $37.9 million and a net income of $99.8 million. The increase in revenue was largely due to $39.9 million in sales from heavy mineral sand. The net loss was attributed to increased operating expenses and costs related to strategic acquisitions, including the purchase of Base Resources (LON:BSE) and the Donald Project joint venture. In analyst updates, H.C. Wainwright adjusted Energy Fuels’ stock price target to $10.75 while maintaining a Buy rating, and Roth/MKM upgraded the stock from Neutral to Buy, raising the target to $5.75. Roth/MKM cited the resolution of concerns and the company’s improved financial position as reasons for the upgrade. Additionally, Energy Fuels signed a Memorandum of Understanding with the Madagascar government for the Toliara Project, which includes a 5% royalty and an $80 million commitment towards community and social projects. The agreement allows Energy Fuels to resume project development in Madagascar following the lifting of a suspension imposed in 2019.
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