Uranium Resources Receives a Buy from Roth Capital

By Austin Angelo

In a report released yesterday, Joseph Reagor from Roth Capital reiterated a Buy rating on Uranium Resources (NASDAQ: URRE), with a price target of $3. The company’s shares opened today at $1.49.

Reagor commented:

“We came away impressed with the project’s potential and the access to existing infrastructure. Additionally, we believe management is working to advance its lithium assets with a goal of producing a lithium resource at one of its key projects during H1 2018. Thus, we are reiterating our Buy rating and $3.00 price target. Lithium clearly taking center stage. Over the last 12 months, Uranium resources has transitioned from a uranium company to an energy metals company with the addition of two prospective lithium assets in the U.S. The company has a stated goal of developing a JORC compliant resource on one of these two projects during H1 2018 and we believe the company is well positioned to achieve this goal. As such, we attended a site tour to URRE’s Columbus Basin project located in Nevada. The pages that follow provide additional details and images from our site visit. Balance sheet cleanup now complete. During the first quarter of 2017, Uranium Resources completed multiple transactions and achieved its goal of eliminating all outstanding debt. Additionally, the company now has $10.9 million in cash (as of March 31, 2017) and is well funded into the first half of 2018.”

According to TipRanks.com, Reagor is ranked 0 out of 5 stars with an average return of -2.6% and a 29.5% success rate. Reagor covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Platform Specialty Products, and Gold Standard Ventures Corp.

Uranium Resources has an analyst consensus of Moderate Buy, with a price target consensus of $3.

Based on Uranium Resources’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $0 and quarterly net profit of $1.85 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $4.27 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Uranium Resources, Inc. is an energy metals exploration and development company. It engages in development and producetion of energy metals, particularly lithium and uranium. The company projects include Columbus Basin; Sal Rica; Kingsville Dome, Rosita, South Texas and Vasquez which are located in Texas; Churchrock and Mancos, Crownpoint, Nose Rock, West Largo, Ambrosia Lake, Cebolleta, Juan Tafoya which are located in New Mexico; and Temrezli and Sefaatli which are located in Turkey. Uranium Resources was founded by Raymond Larson in 1977 and is headquartered in Centennial, CO.