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Energy Fuels Inc. (TSX:EFR) (NYSE American:UUUU), a $1.01 billion market cap company currently trading at $4.81, announced the appointment of Nathan Bennett as the company’s Chief Financial Officer effective April 21, 2025. According to InvestingPro analysis, the company maintains a strong balance sheet with more cash than debt. Mr. Bennett, 44, previously served as Energy Fuels’ Chief Accounting Officer and Interim Chief Financial Officer since January 1, 2024, and as Corporate Controller from August 25, 2022, to December 31, 2023.
Before joining Energy Fuels, Bennett played a significant role at Antero Midstream (NYSE:AM) Corporation, where he was Controller from December 2013 to August 2022. During his tenure at Antero, he led the accounting, treasury, and financial reporting functions and oversaw the successful closing of two initial public offerings in 2014 and 2017. His earlier career includes various positions within the assurance practice at PricewaterhouseCoopers, LLP, serving energy industry clients. Bennett joins at a crucial time, as InvestingPro data shows analysts expect the company to return to profitability this year, with a forecasted EPS of $0.17 for FY2025.
Bennett holds a Bachelor of Science in Accounting and a Master of Accounting degree from Utah State University and is a Certified Public Accountant licensed in Colorado. The company has stated that there are no familial ties between Bennett and any current executive officer or director, nor is he involved in any transactions with the company that would require disclosure under SEC regulations.
As of the filing of this report, no material plans, contracts, or arrangements have been entered into with Mr. Bennett in relation to his appointment as CFO, nor has he received any specific grants or awards in connection with his new role. This executive transition was documented in a Form 8-K filed with the Securities and Exchange Commission, reflecting the company’s updates in its leadership team.
In other recent news, Energy Fuels reported its financial results for 2024, with total revenue reaching $78.1 million and a net loss of $47.8 million, or ($0.28) per share. This represents a significant shift from 2023, where the company had revenue of $37.9 million and net income of $99.8 million, or $0.63 per share. The revenue increase was largely driven by $39.9 million in sales from heavy mineral sand, which accounted for 51% of the annual revenue. Energy Fuels’ net loss in 2024 was influenced by increased operating expenses and costs related to strategic acquisitions, including the purchase of Base Resources (LON:BSE) and participation in the Donald Project joint venture. H.C. Wainwright adjusted its price target for Energy Fuels to $10.75, maintaining a Buy rating, and expressed optimism about the company’s growth potential in 2025. Meanwhile, Roth/MKM upgraded Energy Fuels from Neutral to Buy, raising the price target to $5.75, citing the resolution of several concerns and improved financial positioning. The company has raised substantial capital to support near-term projects and resolved disputes with the Navajo Nation, enhancing its operational outlook. These developments have led to positive reassessments by analysts, reflecting confidence in Energy Fuels’ future prospects.
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