Energy Fuels (UUUU +0.55%) stock jumped 7% through 11:50 a.m. ET Tuesday after B. Riley analyst Matthew Key raised his price target on the uranium mining stock to $27 with a buy rating on the shares.
Image source: Getty Images.
Why B. Riley loves Energy Fuels stock
Energy Fuels stock has outperformed its nuclear peers so far in 2026, "on confidence in White Mesa's rare-earth refining capabilities and supportive U.S. policy aimed at securing critical minerals," reports TheFly.com. Further outperformance may take one of several forms:
Energy Fuels stock could beat the market if "downstream M&A" suggests that other uranium miners are worth more, if Energy Fuels makes measurable progress in its uranium business, or -- and perhaps especially -- if the company can ride the rare-earth mania to riches, for example by "validating" terbium oxide reserves and making a Final Investment Decision on plans on its rare-earth project in Australia, known as the Donald Project.
NYSEMKT: UUUU
Key Data Points
Is Energy Fuels stock a buy?
Notice, however, what B. Riley's analyst does not say about Energy Fuels stock: It doesn't say a thing about cash burn at Energy Fuels, which has been rising for the past two years. Nor does it say anything about losses, which have also been rising.
Analysts polled by S&P Global Market Intelligence expect Energy Fuels to more than double its revenues this year compared with 2025, yet continue to lose money and burn cash. Earnings as calculated according to generally accepted accounting principles (GAAP) might turn positive next year, but free cash flow is expected to remain negative through at least 2028.
With only $235 million in the bank, but forecasts anticipating it will burn more than twice that over the next three years, Energy Fuels stock remains a sell for me.
