Why Uranium Energy Stock Popped Today
Key Points
Uranium Energy lost money in Q2.
The uranium miner was still able to sell its uranium significantly above average prices last quarter.
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Uranium Energy (NYSEMKT: UEC) stock jumped 6.6% through 10:35 a.m. ET Tuesday after reporting in-line earnings this morning -- and by in-line, I mean Uranium Energy didn't earn anything.
Analysts forecast the uranium miner would lose $0.03 per share in its fiscal Q2 2026, and that's exactly what happened. On sales, Uranium Energy generated $20.2 million from uranium sales at an average price of $101 per pound.
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Uranium Energy Q2 "earnings"
Uranium spot prices averaged $80.76 per pound in Q2, and are sitting at $85.90 per pound today, according to data from TradingEconomics.com. Uranium Energy, however, got prices better than either of these numbers by selling its uranium at times of its choosing, unhedged.
Looking at the chart, I'm guessing most of its sales took place on Jan. 29, when uranium prices briefly passed $101 per pound before immediately plunging to... right about where the price is today.
What's curious about Uranium Energy is that the company has a low-cost production strategy. According to management, it costs Uranium Energy only about $44.14 to produce a pound of uranium, and it produced 45,743 pounds of the stuff last quarter.
Can Uranium Energy earn a profit?
What's more, its costs are falling -- and production is increasing.
Uranium Energy produced most of its uranium from just two "header houses" (also known as a wellhead house -- the place where leached uranium is extracted from a mine) last quarter. Uranium Energy has four more header houses built now, and is working on three more. It's also cooperating with its engineering contractor, Fluor Corporation (NYSE: FLR), to build a new refining and conversion plant to turn uranium "yellowcake" ore into uranium hexafluoride gas.
Analysts predict Uranium Energy will turn profitable next year. With production ramping up, I believe it.
Should you buy stock in Uranium Energy right now?
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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