UR-ENERGY INC (URG) Stock Analysis

Price updated today · SEC data refreshed 2 months ago ⓘ · Not investment advice

UR-ENERGY INC

URG Basic Materials Gold & Silver Mining📄 SEC filings ↗
Valuation N/A
Long-term trend (200d) 13% below 200-day Risk 26/100 Moderate
▾ What's in the 26/100 risk score? (higher = riskier)
Fundamental health (43%) 20/100 → +8.6
leverage 20/100
Smart money (short interest + insider buying) (31%) 31/100 → +9.7
Macro backdrop (VIX, curve, credit, fear/greed + week-over-week momentum) (26%) 28/100 → +7.2
Total26/100

Contributions (weight × component score) sum to the total. This near-term score now includes fundamental health (leverage, FCF trend). See the Financial Health section for the full balance-sheet read.

💵 Price $1.35 · today 📄 Financials SEC EDGAR · refreshed 2 months ago
📍 START HERE

How to read URG (cyclical commodity producer)

A miner or energy producer earns whatever the commodity price is, so a single DCF swings with the cycle. Judge it against peers and where you think the commodity cycle is heading.

Where to start — the sections that matter most for this stock
  1. 1 EV/Sales peer comparison ↓
    How the price compares to similar producers is more meaningful than a through-cycle DCF.
  2. 2 Interactive calculator (test cycle assumptions) ↓
    Flex the growth/discount inputs to see how sensitive the value is to where we are in the cycle.
Or — what are you trying to decide?
One rule first: never trade out of fear — and that includes the fear of missing out. A stock up 10% a day for three days is excitement, not data. If you can't point to the evidence behind a trade, you're more likely to lose. So whichever of these you are, check the data below before you act.
🚀
"It's surging — should I chase it?"
The momentum / FOMO trade. Before you chase, see whether the people who know it best are quietly selling into the rally.
🏷️
"Is it a cheap bargain?"
The deep-value trade. How far below assets and our value it trades — and whether it's cheap for a reason.
ⓘ Using the right valuation lens for this business type

Standard DCF doesn't fit URG well — but that's expected for this kind of business. The EV/Sales Peer Comparison below uses the metrics actually used by analysts who value gold & silver mining. Reverse DCF + Football Field also work as cross-checks.

ⓘ Why a standard DCF doesn't settle this one — URG is a cyclical commodity producer

Miners, metals and energy producers earn whatever the commodity price is at the time. A discounted-cash-flow model leans on recent cash flow, so it swings with the cycle: the result is dominated by where we are in the commodity cycle rather than by durable business economics.

For this business type, lean on the EV/Sales peer comparison and Reverse-DCF below (how today's price compares to similar producers and what growth it implies), and weigh the commodity-price outlook. Treat the DCF number as a rough mid-cycle reference, not a buy/sell trigger.

ⓘ Why does URG trade at $1.35?

UR-ENERGY INC has 368.4 million shares outstanding. At $1.35 per share, the market values all outstanding URG equity at $497 million. That's market capitalization, not enterprise value — enterprise value also accounts for debt and cash (URG carries little or no debt, so the two are close here). The share price by itself tells you almost nothing — a company can pick any share price by splitting or issuing more shares. What matters is the total value (Market Cap?Market Cap — The total dollar value the market is assigning to the entire company.
Why it matters: This is the number that actually matters when comparing companies. Two companies with the same business but different share counts have the same market cap.
Reference: Mega cap >$200B · Large $10–200B · Mid $2–10B · Small $300M–2B · Micro <$300M
Full explanation →) compared to what the business actually produces. This page values URG in Per Share?Per Share — A company-level figure divided by total shares — what one share represents.
Why it matters: Per-share metrics are the only way to fairly compare two companies with different share counts.
Full explanation → economics — what each share represents of the underlying business. Play with the share-price calculator on the homepage →

Loading insider & short-seller data…
PEER BASKET — TIGHT COMPARABLES

How does URG stack up against its closest peers?

We take the 7 same-industry companies most similar to URG (similar size) and check what investors are paying for each dollar of their revenue (or profits). If URG is much more expensive on the same yardstick, that's a red flag — unless you have a specific reason it deserves a premium. For a leveraged business, EV/EBIT and FCF yield (both in the table) are usually more reliable than EV/Sales, because revenue multiples ignore differences in margins and debt.

▾ What's "EV / Sales" in plain English?

EV (Enterprise Value) = market cap + total debt − cash. It's "what you'd pay to buy the entire company outright" — you pay the market cap to shareholders and take over their debt, but you keep their cash. EV is fairer than market cap alone because it includes the debt the new owner inherits.

EV / Sales = EV ÷ annual revenue. So "2.5×" means investors pay $2.50 of enterprise value per $1 of yearly sales. Higher = market is paying more per dollar of sales (usually because they expect future growth or fat margins).

p25 / median / p75 are the 25th, 50th (middle), and 75th percentile of the peers' multiples. Half the peers fall between p25 and p75. The median (p50) is the typical peer — that's the benchmark we compare to.

What peers trade at (p25 / median / p75)

Bold middle number = median peer. Half the peers trade above it, half below. Computed over 7 same-industry peers; implausible multiples excluded.

What URG would be worth at the median peer's multiple
Not enough clean peer EV/Sales multiples to derive a reliable median (some were dropped as implausible/outliers). The EV/EBIT and FCF-yield rows above are the better read here; also lean on the DCF.

⚠️ Important caveat: peer multiples only work if the peers are genuinely comparable. Always check the peer list below — if the auto-picker grabbed micro-caps or unrelated businesses, the comparison is noise. A medical-device giant priced against tiny biotech startups won't produce a useful signal.

▾ View peer list (8)
Ticker Company Industry Mcap EV/Sales EV/GP EV/EBIT FCF Yield
ITRG Integra Resources Corp. Gold & Silver Mining $499M — 5.3x — —
CMCL Caledonia Mining Corp Plc Gold & Silver Mining $446M — — — —
CNL Collective Mining Ltd. Gold & Silver Mining $560M — — — —
CTGO Contango Silver & Gold Inc. Gold & Silver Mining $619M — — 9.4x 0.0%
TMCR Metals Royalty Co Inc. Gold & Silver Mining $654M — — — —
GROY Gold Royalty Corp. Gold & Silver Mining $710M — — — —
NFGC New Found Gold Corp. Gold & Silver Mining $712M — — — —
IDR Idaho Strategic Resources, Inc. Gold & Silver Mining ·fallback $618M 14.6x 23.7x 39.8x 0.1%
FINANCIAL HEALTH SCREENS

Quality & solvency checks

Cheap stocks can be cheap for a reason. These screens warn when a low valuation comes paired with structural fragility.

Altman Z-Score?Altman Z-Score — A bankruptcy-risk score combining 5 financial ratios into one number. Predictive of bankruptcy within 2 years.
Why it matters: Cheap-looking stocks (low P/E or P/B) often have low Z-scores because the market knows the company is dying. Z-score warns you before you fall into a value trap.
Reference: > 3.0 = safe zone · 1.81–3.0 = grey zone · < 1.81 = distress zone
Full explanation →
Not available for this filer

The Z-score needs working capital, retained earnings, EBIT, sales and total assets from the latest balance sheet, and at least one of those isn't reported in machine-readable form here — common for foreign private issuers. We leave it blank rather than compute a distress verdict from an estimated input. It doesn't affect the reported figures in the financial tables below.

Piotroski F-Score?Piotroski F-Score — A 9-point quality checklist scoring profitability, leverage, and operating efficiency.
Why it matters: High score = fundamentals improving. Low score = deteriorating. Especially powerful for filtering cheap stocks: cheap + high F-score historically outperforms; cheap + low F-score is often a value trap.
Reference: 7–9 = strong · 4–6 = mediocre · 0–3 = weak
Full explanation →
3 / 9
Weak
▾ The checks — what passed, what didn't (and what we couldn't measure)
  • ✗ Positive net income
    Net income -$74.9M in the latest year.
    Why this matters: Does the company actually earn a profit? Sustained losses eventually force it to raise money — diluting you — or take on debt.
  • ✗ Positive operating cash flow
    Operating cash flow -$43.1M (was -$71.9M the prior year).
    Why this matters: Profit can be an accounting figure; cash from running the business is harder to fake. Negative operating cash flow means the core business consumes cash and must be funded externally.
  • ✓ Cash flow backs up reported profit
    Operating cash flow -$43.1M vs net income -$74.9M.
  • ✗ Return on assets improving
    Return on assets -27.5% vs -27.4% a year ago.
    Why this matters: Is the company squeezing more profit out of each dollar of assets than last year? Rising = getting more efficient; falling = the opposite.
  • ✓ Debt load (vs assets)
    Long-term debt is 0.0% of assets vs 0.0% a year ago ($0.0M now).
  • ✗ Short-term liquidity (current ratio)
    Current ratio 5.44x vs 5.99x a year ago.
    Why this matters: The current ratio compares assets it can turn to cash within a year against bills due within a year. Below 1.0 means it may struggle to cover near-term obligations.
  • ✗ Share count (dilution)
    Share count rose 16.0% (317.7M → 368.4M year-over-year).
    Why this matters: Issuing lots of new shares splits the pie into more pieces, shrinking your slice. Stable or falling share count protects existing owners.
  • ✓ Pricing power (gross margin)
    Gross margin 0.3% vs -26.6% a year ago.
  • ✗ Sales per asset (asset turnover)
    Asset turnover 0.10x vs 0.17x a year ago.
    Why this matters: Asset turnover measures how much revenue each dollar of assets generates. Rising = more productive use of the asset base.

Missing data is never counted as a pass or a fail — it's shown as n/a and excluded from the denominator. Each check compares the company against its own prior year.

Cash Runway
2.9 yrs
COMFORTABLE — 2+ years at the current burn

Plain English: the company holds about $124M in cash and is burning roughly $43M/year in operations. At that pace, the cash lasts 2.9 yrs before it must raise capital (diluting shareholders), take on debt, or cut spending.

Assumes constant burn and ignores financing/asset sales. For pre-profit biotech and growth companies, this matters more than a DCF — a great drug pipeline is worthless if they run out of money before approval.

INTERACTIVE — TWEAK YOUR ASSUMPTIONS

What if you assume different inputs?

Here's where we land — and what happens if you change the assumptions. Drag the sliders to set your own Discount Rate?Discount Rate — The annual return you demand for taking single-stock risk instead of buying a safe Treasury or index fund.
Why it matters: Higher discount rate = stricter valuation (a stock has to produce more cash to be worth holding). Lower = more generous.
Reference: 8–12% is standard · 9–10% matches S&P 500 historical return · Below 7% is illogical for single-stock risk
Full explanation → (the annual return you demand for single-stock risk) and terminal growth; the value updates live so you can see whether the stock looks cheaper or richer. The discount rate starts at 10.0%, the figure our model used for URG. Open Advanced to also change beta, growth and the rate path.

Note: no headline intrinsic value is published for this stock (the valuation is held for a data-quality reason — see the notes above). The calculator below is a what-if tool: the values it produces are your assumptions played out, not our estimate.

4.5% (risk-free)9-10% normal18% (deep-risk)
0%2-3% (GDP)5% (rarely sustainable)

A full intrinsic value isn't shown for URG because the valuation is currently held for a data-quality reason (see the guardrail notes above). The reverse-DCF reading still works — it needs only the price and cash flow — but we won't publish a forward value until the underlying data passes our checks.

For comparison — the revenue growth today's price already assumes
—
—

—

⚙ Advanced — tinker with every input (beta, growth, rate path, margin → full intrinsic value)
Where the discount rate comes from — discount rate = risk-free + beta × equity-risk-premium
What you'd earn risk-free from government bonds — the floor under every other rate. Slide it down to model the market expecting rate cuts (value rises); up for higher-for-longer.
The extra yearly return investors demand for owning stocks instead of safe bonds — the price of risk. History runs ~4.5–6.5%; we default to 5.5% (slightly conservative). It's an estimate, not a law — lower it if you think equities are less risky than that.
Inflation quietly eats returns: a 9% gain at 3% inflation is only ~6% in real purchasing power. The intrinsic value above is already in today's dollars (a nominal DCF cancels inflation out of both growth and the discount rate), so this doesn't change the value — it shows what's left of your return after the tax.
Higher beta → higher discount rate (sets the rate above). 1.0 = moves with the market.
What you think URG can grow revenue for ~5 years, then fades to terminal.
For a pre-profit company: the % of revenue that eventually becomes free cash flow once mature. (Our published value uses the sector norm.)
All inputs start at the values our model used.

    Copy shareable link to this scenario →

    Price$1.35
    Model IVNot applicable — DCF couldn't price this stock. See Reverse DCF and Football Field below.

    A standard DCF?DCF — Discounted Cash Flow — sums up all future cash a business will produce, adjusted for the fact that future dollars are worth less than dollars today.
    Why it matters: It is the most fundamentally honest valuation method when applicable — but only works for companies with predictable, positive cash flow.
    Reference: Best for: mature, profitable businesses. Fails for: pre-profit growth, banks, REITs.
    Full explanation →     valuation is not meaningful for UR-ENERGY INC due to its negative operating cash flow and net income, indicating it is a cash-burning growth company. Investors are likely betting on future uranium price appreciation and the successful ramp-up of its production assets. Valuation would require projecting future production volumes and commodity prices. The #1 quantifiable risk is the company's consistent negative operating cash flow, which could necessitate further capital raises.

    ⚠️ Revenue declining

    As of 2 months ago

    ANATOMY

    Anatomy of a share

    What you're buying per share. Bars are at the same scale so you can see the relative size of revenue, costs, cash flow, and debt — not just read them in a table.

    URG UR-ENERGY INC stock anatomy showing per-share revenue, operating expenses, free cash flow, and debt
    −275.3%
    loss
    Where each $1 of revenue goes
    For every $1 of revenue, URG currently loses 275.3¢ — costs exceed sales. A money-losing business can still be a good investment if losses are shrinking toward profitability; check the trend, not just the snapshot.
    Net margin = net income ÷ revenue (most recent fiscal year).
    Plain English: $1/share buys $0.07 of revenue per share per year, generates $0.20 lost per share per year, and $0.19 of cash burned per share (negative free cash flow). Each share carries $0.00 of debt.
    What's free cash flow / what do these mean?

    Revenue per share — how much the business earns from customers, divided by the number of shares outstanding. Top of the income statement.

    Earnings per share — profit left after operating costs, interest, and taxes, per share. Two versions appear on this page and are not interchangeable: GAAP diluted EPS uses the company's weighted-average diluted share count during the reporting period (this is the "earnings" in "price-to-earnings"); net income per current share divides annual net income by today's share count. They differ whenever the share count has changed.

    Owner-earnings free cash flow per share — the cash the business produces for shareholders. Savng's owner-earnings FCF subtracts capital expenditures and stock-based compensation from operating cash flow (SBC is a real dilution cost even though it's non-cash). This is deliberately more conservative than "standard" FCF, which subtracts only capital expenditures — so our figure is lower than the headline FCF you'll see elsewhere. FCF funds dividends, buybacks, debt repayment, and acquisitions; a company can report positive earnings yet negative FCF.

    Debt per share — total interest-bearing borrowings divided by shares. High debt-per-share next to thin FCF-per-share is a fragility signal.

    THE KEY DEBATE

    What you actually need to decide

    Every stock price is a disagreement. Here's the single thing that must go right for the bulls, the single thing that breaks the thesis, and the concrete signposts to watch so you can update your view as real results arrive.

    🐂 The Bull Case
    For the stock to work, uranium prices must continue to rise significantly, enabling the company to achieve consistent profitability and positive operating cash flow, which has been negative for the latest period.
    🐻 The Bear Case
    The biggest fundamental risk is the continued negative operating cash flow, which implies ongoing cash burn and potential dilution from future equity raises if profitability is not achieved.
    📌 Signposts to watch — update your view as these print
    • Quarterly uranium production volumes
    • Average realized uranium sales price
    • Progress on new project development and permitting
    MOMENTUM — WHAT'S GETTING BETTER & WORSE

    The trend, in plain numbers (2024 → 2025)

    Straight from the financial statements — no model, no opinion. For a small or unprofitable company, the direction of these numbers usually tells you more than any single valuation.

    ✅ Improving
    • Free cash flow is negative at -$68.7M — the cash burn narrowed vs last year.
    • Gross margin improved to 0% (+27 pts).
    ⚠ Worsening
    • Revenue fell -19% to $27.2M.
    • Still unprofitable at -$74.9M — loss widening.
    WHO

    Management & Leadership

    John W. Cash is the President and CEO of UR-Energy Inc., a role he has held for many years, guiding the company through its development and production phases. He has been instrumental in the company's strategic direction within the uranium mining sector.

    John W. Cash
    President and Chief Executive Officer
    Roger Smith
    Chief Financial Officer
    Jeffrey Klenda
    Chairman of the Board
    WHAT

    What They Make

    UR-Energy Inc. is a uranium mining company focused on the acquisition, exploration, development, and operation of uranium projects. It primarily sells uranium concentrate to utility companies for nuclear power generation.

    End Markets

    Nuclear Power GenerationUranium Spot MarketLong-term Uranium Contracts

    Revenue Drivers

    Uranium production volume
    Market price of uranium
    Long-term supply agreements
    Market Cap: 497.3MBeta: 1.54
    WHY

    Why Is It Priced Like This?

    Why Customers Pay

    Reliable source of uranium fuel
    Contribution to clean energy production
    Security of supply for utilities
    No discounted-cash-flow value for this filer This company's reported free cash flow is negative, so a discounted-cash-flow valuation has no positive cash stream to discount. That is a fact about the business, not missing data — the reported figures below are complete.

    What we use instead: earnings (P/E, EV/EBIT), book value (P/B) — computed from the figures this company does report, shown in the sections below. Those numbers are unaffected by the missing cash-flow data.

    The market is pricing UR-Energy based on its potential future production and the anticipated increase in uranium prices, rather than current cash flow, given its negative net income and operating cash flow. The significant revenue growth of 542.2%/yr over four years suggests investors are focused on its growth trajectory and the optionality of its mining assets in a cyclical commodity market.

    HOW

    Business Model & Valuation

    How They Make Money

    Uranium production volume
    Market price of uranium
    Long-term supply agreements

    Normalized FCF

    Cyclical/commodity sector (Gold & Silver Mining) with negative current FCF: normalized FCF uses multi-year median to smooth through the cycle.

    Show advanced inputs
    RevenueGrowth5.4216
    SectorDefault5.0%
    BestEstimate5.0%
    Methodsector_default
    GrowthBasistotal

    What this model does NOT do: this is a consolidated owner-earnings FCF model. Standalone segment assumptions: none. It does not project production volumes, realized commodity prices and unit cash costs independently; their combined effect is embedded in the historical revenue and cash-flow trend the model extrapolates. The calculator above can only approximate a segment's impact through the single consolidated growth rate — it cannot model any one line separately. For a true segment-level view, build a separate model from the company's segment disclosures.

    WHEN

    Maturity & Competitive Position

    Cyclical / commodity-linked producer

    Moat Signals

    Permitted and operational uranium assets
    In-situ recovery (ISR) mining expertise
    Long-term supply contracts

    Revenue has been growing at 542.2%/yr over four years, from $0M to $27M, though net income and operating cash flow have been negative.

    WHERE

    Geography & Markets

    UR-Energy Inc. is headquartered in the United States and primarily operates uranium mining and development projects in Wyoming, USA. Exact geographic revenue splits are not available in current filings.

    Geographic Risks

    Concentration risk in Wyoming for production assets
    Commodity price volatility for uranium
    SIGNALS

    Market Signals

    These are timing signals, not value signals — they describe the stock's recent price behavior, not what the business is worth. Use them for the "the thesis looks good, but is now the moment?" question. Each tile below explains what it's saying.

    Model neutral, tape neutral - aligned.
    RSI?RSI — Relative Strength Index — a 0-100 momentum gauge. Above 70 = overbought; below 30 = oversold.
    Why it matters: Short-term contrarian indicator. Extreme readings often precede mean reversion, though not always.
    Reference: 30–70 normal · >70 overbought · <30 oversold
    Full explanation →     (14)    47.3NeutralMomentum is balanced — neither overbought nor oversold.
    MACD?MACD — Moving Average Convergence Divergence — compares a fast and a slow price trend to gauge momentum direction.
    Why it matters: When the fast line crosses above the slow line, short-term momentum is turning up; below, turning down. A timing cue, not a value signal.
    Reference: Line above signal = bullish momentum · below = bearish
    Full explanation →    BearishLine below signalThe fast trend is below the slow trend — short-term momentum is currently downward.
    50-Day Average$1.62Price below (-16.7%)Price below its 50-day average = near-term downtrend.
    200-Day Average$1.56Price belowThe 200-day line is the long-term trend divider — above it is generally considered a bull market for the stock.
    50 vs 200 CrossGolden50-day above 200-dayA "golden cross" — the medium trend has overtaken the long trend (often read as bullish).

    Technicals describe price, not the business. A great company can have a "bearish" tape (a buying chance) and a weak one a "bullish" tape (a trap). Pair these with the valuation and health sections above.

    QUALITY

    Data Quality & Risk Flags (9 notes — click to expand/collapse)
    HIGH Revenue declining
    Guardrail Notes (8)
    • Cyclical sector: using normalized cash flow (median OCF minus estimated maintenance capex).
    • Median OCF is negative — OCF-based normalization not applicable.
    • Normalized OCF-capex was negative. Falling back to median raw FCF.
    • No positive normalized FCF. Using EPS as proxy.
    • Model implies no positive equity value under these assumptions. Valuation is speculative/low-confidence.
    • Illiquidity discount 7% applied (small/micro-cap — harder to exit, demand a margin).
    • Extreme valuation (P/IV 15.8358x, IV $0.10 vs price $1.62); output dominated by data/units issue (often a multi-class share-count mismatch). Suppressed.
    • DATA UNAVAILABLE: per-share values suppressed due to missing/unreliable shares data.
    FINANCIALS

    Financial Statements (5-year tables — click to expand)

    From UR-ENERGY INC's SEC filings (EDGAR).

    Income (5yr)

    YearRevenueNet IncomeEPS
    202527.2M-74.9M$-0.20
    202433.7M-53.2M$-0.17
    202317.7M-30.7M$-0.12
    202219,000-17.1M$-0.08
    202116,000-22.9M$-0.12

    Cash Flow (5yr)

    YearOperating CFCapEx− SBC & adj.Free Cash Flow
    2025 -43.1M 23.6M 1.9M -68.7M
    2024 -71.9M 9.0M 2.4M -83.4M
    2023 -17.0M 2.0M 1.0M -20.0M
    2022 -18.1M 709,000 1.1M -19.9M
    2021 -11.7M 1.2M 1.1M -14.0M

    How we define FCF: operating cash flow − capital expenditure − stock-based compensation (owner-earnings basis — SBC is a real cost to shareholders even though it's non-cash). Latest year: -43.1M − 23.6M − 1.9M (SBC & adj.) = -68.7M. This is the same owner-earnings FCF definition the valuation model uses, though the DCF's starting value is a normalized multi-year median, not this single year.

    Balance Sheet

    Total Assets272.5M
    Total Liabilities—
    Equity77.5M
    PG
    Methodology by Pouyan Golshani, MD — founder of Gighz. Savng was built by a physician for busy professionals: every number on this page comes from SEC filings (EDGAR) and FINRA data through transparent, rules-based models — no analyst opinions, no hidden inputs. How we calculate every number →
    ⚠️ Not investment advice. Automated model outputs, last refreshed May 30, 2026 (the analysis-refresh date, not the latest filing period). All models have blind spots. Full disclaimer →
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