FINWIRES · TerminalLIVE
FINWIRES

Correction: National Bank Cuts Uranium Energy's Price Target to US$16 from US$17

By

(Corrects name of company to Uranium Energy.)

National Bank of Canada on Tuesday lowered Uranium Energy's (UEC) price target to US$16 from UD$17 with an outperform rating.

National Bank updated its model to reflect Uranium Energy's weaker-than-expected operating results in the third quarter of fiscal 2026.

The bank reduced its near-term production estimates for Uranium Energy across the Wyoming hub to reflect the production rates to date and the development progress of header houses required to enable an increase in production.

National Bank also applied a more conservative ramp at Uranium Energy's Texas hub.

The company's total net asset value fell 5% to $9.95 per share from $10.47 per share, driven by the lower volume, higher costs, and our slight reduction in the in-situ value attributed to the U.S. assets to reflect higher costs, according to the bank.

Price: $2.16, Change: $+0.09, Percent Change: +4.61%

Related Articles

Mining & Metals

Major Drilling Group International Posts Higher Profit, Revenue for Fiscal Fourth Quarter

Major Drilling Group International (MDI.TO) after trade Wednesday said its fiscal fourth-quarter profit and revenue rose year-over-year.The company earned $8.2 million, or $0.10 per share, in the period, up from $1 million, or $0.01, a year ago. FactSet expected $0.08 per share.Revenue rose 25% to $233.7 million from $187.5 million in the year-ago quarter. FactSet projected $228.9 million."The unfavourable foreign exchange translation impact on revenue for the quarter, when compared to the effective rates for the same period last year, was approximately $1 million, with minimal impact on net earnings as expenditures in foreign jurisdictions tend to be in the same currency as revenue," the company said, adding that revenue from Canada-U.S. drilling operations rose 66.5% to $97.9 million, and South and Central American revenue climbed 3.5% to $91.1 million year-over-year," thr company said.Looking ahead, Chief Executive Denis Larocque said, "margin expansion is expected to lag revenue growth at the beginning of fiscal 2027 as pricing catches up and outpaces initial cost increase".The company projects to incur about $75 million in capital expenditures in fiscal 2027, broadly in line with the capex guidance provided in previous years, Chief Financial Officer Ian Ross added.

$MDI.TO
Mining & Metals

Update: -- Haivision Systems Brief: Reports Q2 Revenue of $32.5 Million, a 5.1% Decrease from the Year-Prior Quarter

$HAI.TO
Mining & Metals

Haivision Systems Brief: Reports a Q2 Loss of $1.8 Million Compared to a Loss of $2.4 Million in the year-Prior Period

$HAI.TO