Core Viewpoint - The long-term outlook for uranium remains strong, driven by increasing global nuclear power capacity and strategic initiatives from countries like the U.S. and India to expand their nuclear energy capabilities [2][28]. Group 1: Cameco Corporation (CCJ) - Cameco is one of the world's largest uranium suppliers, with operations in mining and fuel services, and accounted for 16% of global uranium production in 2024 [4][6]. - In the first half of 2025, Cameco's total revenues increased by 35% year over year to CAD 1,666 million ($1,184 million), with uranium revenues up 27% to CAD 1,324 million ($941 million) [6][9]. - The company expects its share of adjusted EBITDA from Westinghouse to be between $525-$580 million for 2025, reflecting growth from its involvement in nuclear reactor construction projects [11]. - Cameco's share of production expectation from the McArthur River mine has been revised to 9.8-10.5 million pounds due to development delays, while the expected share from the Cigar Lake mine remains at 9.8 million pounds [8][12]. - The company has signed a long-term agreement to supply natural uranium hexafluoride (UF6) to Slovakia's largest electricity producer, marking its entry into the Slovak market [13]. - Cameco's stock has appreciated by 69% in 2025, reflecting the sharp price rebound in uranium [23]. Group 2: Ur-Energy (URG) - Ur-Energy operates the Lost Creek project in Wyoming, which has produced 3 million pounds of uranium since 2013, and is advancing construction at the Shirley Basin [14][16]. - In the first half of 2025, Ur-Energy's revenues jumped 124% to $10.4 million, but the company reported a net loss of seven cents per share [16][20]. - The company has eight multi-year sales agreements with major nuclear and utility companies, with annual delivery amounts ranging from 440,000 to 1,300,000 pounds of uranium from 2025 through 2033 [18]. - Ur-Energy's total sales in 2025 are projected at 440,000 pounds of uranium, leading to revenues of $27.1 million [17]. - Ur-Energy's stock has risen by 46% in 2025, but its revenues are expected to decline by 7.5% year over year in fiscal 2025 [20][23]. Group 3: Comparative Analysis - The Zacks Consensus Estimate for Cameco's 2025 revenues implies year-over-year growth of 11.3%, while Ur-Energy's estimate indicates a decline of 7.5% [19][20]. - Cameco's forward price-to-sales multiple is 15.00X, significantly above its five-year median of 6.74X, while Ur-Energy's is at 5.72X, below its median of 7.70X [26]. - Both companies are positioned to benefit from a bullish long-term uranium outlook, but Cameco offers stronger earnings visibility and stability due to its diversified operations and fixed-price contracts [28][29].

LITTLETON, CO / ACCESS Newswire / September 23, 2025 / Ur-Energy Inc. (NYSE American:URG)(TSX:URE) (the "Company" or "Ur-Energy") welcomes Jade Walle as Vice President Finance. Mr. Walle brings broad experience in corporate finance, capital markets, and financial reporting within the mining and energy sectors. ...

Core Viewpoint - Ur-Energy Inc. is recognized as one of the best uranium stocks to invest in, supported by strong financial performance and strategic positioning in the market [1][2]. Financial Performance - The company reported strong second-quarter 2025 results, driven by lower production costs at operations like Lost Creek, leading to a significant year-over-year increase in revenue and gross margins [3]. - The investment firm H.C. Wainwright reaffirmed a 'Buy' rating on Ur-Energy with a price target of $2.70, reflecting confidence in the company's financial health [2]. Market Positioning - Ur-Energy's flexible contract portfolio positions the company to capitalize on future market opportunities, particularly with renewed expectations for increased uranium demand due to U.S. Department of Energy's uranium programs [3]. - The company's strong asset portfolio and robust cash flow contribute to high investor confidence [3]. Company Overview - Ur-Energy Inc. specializes in the exploration, development, and production of uranium mineral properties, solidifying its status as a leading player in the uranium sector [4].

Ur-Energy (NYSEAM:URG) FY Conference September 08, 2025 02:00 PM ET Company ParticipantsMatthew Gili - PresidentConference Call ParticipantsNone - AnalystNoneGood afternoon, everyone, and thank you for joining the H. C. Wainwright twenty seventh Annual Global Investment Conference. I'd like to welcome this session speaker, Matt Gilly, president of UR Energy. Take it away, Matt.Matthew GiliThank you very much. So, alright, good afternoon, everyone. You know, I'm the I'm Matthew Gilley. I'm the newly appointe ...

Company Performance - Ur Energy reported a quarterly loss of $0.04 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.01, marking an earnings surprise of -300.00% [1] - The company posted revenues of $10.44 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 0.34%, and showing significant growth from $4.65 million in the same quarter last year [2] - Over the last four quarters, Ur Energy has not surpassed consensus EPS estimates and has topped revenue estimates only once [2] Stock Outlook - The immediate price movement of Ur Energy's stock will largely depend on management's commentary during the earnings call and future earnings expectations [3][4] - The stock has gained approximately 7% since the beginning of the year, slightly underperforming the S&P 500's gain of 7.6% [3] Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is -$0.02 on revenues of $6.8 million, and -$0.08 on revenues of $29.93 million for the current fiscal year [7] - Prior to the earnings release, the estimate revisions trend for Ur Energy was favorable, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Mining - Miscellaneous industry, to which Ur Energy belongs, is currently ranked in the bottom 36% of over 250 Zacks industries, suggesting potential challenges ahead [8]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2025 Commission File Number: 001-33905 UR-ENERGY INC. (Exact name of registrant as specified in its charter) Canada Not Applicable 10758 West Centennial Road, Suite 200 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRA ...

Core Viewpoint - Ur Energy (URG) is anticipated to report a year-over-year increase in earnings driven by higher revenues for the quarter ended June 2025, with the consensus outlook indicating a potential impact on its near-term stock price based on actual results compared to estimates [1][2]. Financial Expectations - The consensus estimate suggests Ur Energy will post a quarterly loss of $0.01 per share, reflecting a year-over-year change of +66.7%. Revenues are projected to be $10.4 million, representing a significant increase of 123.7% from the same quarter last year [3]. - The Most Accurate Estimate for Ur Energy aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0%, indicating no recent analyst revisions that differ from the consensus [12]. Estimate Revisions and Predictions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst assessments [4]. - A positive Earnings ESP is generally a strong predictor of an earnings beat, especially when combined with a favorable Zacks Rank. Stocks with this combination have historically produced a positive surprise nearly 70% of the time [10]. Historical Performance - Ur Energy has not been able to beat consensus EPS estimates in any of the last four quarters, with the last reported quarter showing an expected loss of $0.03 per share, which matched the actual result, resulting in no surprise [13][14]. Industry Context - Another company in the mining sector, MP Materials Corp. (MP), is expected to report a loss of $0.16 per share for the same quarter, with revenues anticipated at $45.38 million, up 45.2% year-over-year. However, it also faces challenges with a negative Earnings ESP of -7.94% [18][19].

Core Viewpoint - Ur Energy Inc (URG) is identified as a potential stock pick due to a recent "golden cross" event, indicating a bullish trend from a technical perspective [1][4]. Technical Indicators - A "golden cross" occurs when a stock's short-term moving average (50-day) crosses above its long-term moving average (200-day), signaling a bullish breakout [2]. - The successful formation of a golden cross involves three stages: a price bottom, the crossing of moving averages, and the maintenance of upward momentum [3]. Stock Performance - URG shares have increased by 26.2% over the past four weeks, indicating strong upward movement [4]. - The company holds a 2 (Buy) rating on the Zacks Rank, suggesting potential for further breakout [4]. Earnings Outlook - There have been no cuts to earnings estimates for the current quarter, with one revision higher in the past 60 days, contributing to a positive earnings outlook [4]. - The Zacks Consensus Estimate for URG has also seen an increase, reinforcing the bullish sentiment [4]. Investment Consideration - Given the technical indicators and positive earnings estimates, URG is recommended for investors' watchlists [6].

Summary of Ur-Energy (URG) Conference Call - July 23, 2025 Company Overview - **Company**: Ur-Energy (URG) - **Industry**: Uranium Mining Key Points Production and Resources - **Lost Creek Mine**: - In production for over 11 years, with approximately 3,000,000 pounds of uranium produced through 2024 and significant production in 2025 disclosed [1] - Projected production capacity of 1,200,000 pounds per year with low operating costs estimated below $17 per pound and all-in costs around $45 per pound [5][10] - Recovery rate of about 90% for under-pattern resources [28] - **Shirley Basin**: - Projected to produce 1,000,000 pounds per year, with construction well underway and expected production by early 2026 [7][10] - Contains approximately 8,800,000 pounds of measured and indicated resources [8] - Operating costs estimated at over $24 per pound, with all-in costs around $50 per pound [9] Market Dynamics - Current spot market price for uranium is approximately $71.72 per pound, while term market prices are around $80 per pound, indicating favorable pricing for Ur-Energy's contracts [10] - Anticipated increase in uranium demand from 171,000,000 pounds in 2023 to approximately 338,000,000 pounds by 2040, driven by global nuclear power growth [16][17] - Geopolitical factors, particularly the impact of Russia's actions in Ukraine, have led to increased demand for U.S. uranium supply as countries seek alternatives to Russian uranium [19][20][22] Legislative and Public Support - Strong bipartisan support for nuclear energy in the U.S., with significant legislation passed to enhance uranium production and funding of $2.7 billion for HALEU and LEU production [24][26] - Public support for nuclear power has risen to 61% according to recent polls [27] Environmental Impact - In situ mining method employed by Ur-Energy has a low environmental footprint, with minimal surface disturbance and high reclamation efficiency [11][54] - The company aims to recycle over 99% of the water used in operations [36] Financial Position - Market capitalization around $500 million with a cash position of $66 million and no financial debt [38] - Long-term contracts in place to secure revenue, with expected sales of approximately $27 million for the current calendar year [61] Future Outlook - Continued focus on ramping up production at Lost Creek and building out Shirley Basin [39] - Monitoring of uranium prices and geopolitical developments as potential catalysts for growth [60] - Plans to participate in upcoming RFPs for enrichment under the LEU and HALEU programs [59] Additional Insights - The company has a strong institutional ownership, with over 80% held by institutional investors [37] - Exploration opportunities remain abundant in Wyoming, where the company is primarily focused [46] This summary encapsulates the key insights and data points from the Ur-Energy conference call, highlighting the company's production capabilities, market dynamics, legislative support, environmental considerations, financial health, and future outlook.

[Lost Creek Production and Sales](index=1&type=section&id=Lost%20Creek%20Production%20and%20Sales) In **Q2 2025**, the Lost Creek Project saw significant operational improvements, with a **27% increase** in wellfield flow rates and a **35% increase** in dried and packaged U3O8 compared to **Q1**. The company sold **165,000 pounds** of U3O8, generating **$10.4 million** in revenue. Maintenance and upgrades to the processing plant were key activities during the quarter Q2 2025 Lost Creek Production & Sales Metrics | Metric | Value | Note | | :--- | :--- | :--- | | **U3O8 Dried & Packaged** | 112,033 lbs | 35% increase over Q1 2025 | | **U3O8 Shipped** | 105,316 lbs | To conversion facility | | **U3O8 Sold** | 165,000 lbs | - | | **Average Sale Price** | $63.20 / lb | - | | **Revenue** | $10.4 million | - | | **Wellfield Flow Rate** | >3,400 gpm | Increased by **~27%** during **Q2** | | **U3O8 Captured in Q2** | 128,970 lbs | Total H1 2025 capture was 203,449 lbs | Inventory at Quarter End (Q2 2025) | Inventory Location | Amount (lbs U3O8) | | :--- | :--- | | **At Conversion Facility** | 315,607 lbs | | **In-Process at Lost Creek** | ~55,000 lbs | - Operational focus in **Q2** included completing header house 2-15 and conducting plant maintenance, such as upgrading the filter press, reverse osmosis systems, and plant control systems to improve capture rates and streamline drying[2](index=2&type=chunk)[4](index=4&type=chunk) [Shirley Basin Construction](index=2&type=section&id=Shirley%20Basin%20Construction) Construction at the fully permitted Shirley Basin Project is progressing **on schedule**, with a target for **initial uranium production** in **early 2026**. The company has increased its onsite staff by **17** and is leveraging existing infrastructure to manage costs. Key construction activities in **Q2** focused on site preparation, well installation, and facility setup - The project is **on schedule** for **initial uranium production** in **early 2026**, following a pre-operation inspection with the State of Wyoming[8](index=8&type=chunk)[10](index=10&type=chunk) - The company is utilizing and refurbishing existing infrastructure, including roads, power lines, and site facilities. Hiring of operational staff has begun and is expected to be completed in **early Q4 2025**[8](index=8&type=chunk)[9](index=9&type=chunk) [Q2 2025 Construction Activities](index=2&type=section&id=Shirley%20Basin%20Q2%202025%20Construction%20and%20Other%20Activities) Specific **Q2** construction milestones at Shirley Basin included completing the pad for the satellite processing building, installing wells for Mine Unit 1, **substantially complete**ing the main office complex, and making significant progress on evaporation ponds and site utilities - Key **Q2** construction progress includes: - The earthen pad for the satellite processing building is complete, and major components have been ordered - Installation of production, injection, and monitor wells in Mine Unit 1 is underway - The **~10,000 sq ft** modular main office complex is **substantially complete** - Installation of two evaporation ponds is approximately **75% complete** - Work has begun to upgrade the electrical substation and other utilities[11](index=11&type=chunk)[12](index=12&type=chunk)[16](index=16&type=chunk) [Great Divide Basin Exploration Program](index=4&type=section&id=Great%20Divide%20Basin%20Exploration%20Program) Ur-Energy is launching an exploration program in the Great Divide Basin to expand its resource base. The company will mobilize a drill rig in **Q3 2025** to focus on three identified targets: Lost Soldier, North Hadsell, and LC South - The company controls **~7,000 acres** across several uranium projects in the Great Divide Basin[15](index=15&type=chunk) - A planned exploration program will focus on three targets (Lost Soldier, North Hadsell, and LC South) with one drill rig expected to be mobilized in **Q3**[15](index=15&type=chunk) [About Ur-Energy](index=5&type=section&id=About%20Ur-Energy) Ur-Energy is a US-based uranium mining company that operates the Lost Creek in situ recovery facility in Wyoming, which has produced approximately **3 million pounds** of U3O8. The company is also developing its second facility, Shirley Basin. Its shares are traded on the **NYSE American** (**URG**) and the **Toronto Stock Exchange** (**URE**) - Ur-Energy operates the Lost Creek facility and is developing the Shirley Basin facility, both in Wyoming[19](index=19&type=chunk) - The company has produced and packaged approximately **3 million pounds** of U3O8 from Lost Creek since operations began[19](index=19&type=chunk) - The company's common shares trade on the **NYSE American** under the symbol "**URG**" and on the **Toronto Stock Exchange** under "**URE**"[19](index=19&type=chunk) [Cautionary Note Regarding Forward-Looking Information](index=5&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Information) This section advises that the report contains forward-looking statements concerning future events, such as production rates, project completion schedules, and exploration results. These statements are subject to significant business, economic, and competitive risks and uncertainties, and actual results could differ materially from expectations - The release contains forward-looking statements regarding future production rates, the Shirley Basin build-out, and planned exploration activities[20](index=20&type=chunk)[21](index=21&type=chunk) - These statements involve known and unknown risks, and actual results may differ materially from those projected[21](index=21&type=chunk) - Factors that could cause results to differ include capital costs, resource estimation, commodity price fluctuations, and regulatory delays[21](index=21&type=chunk)