Uranium Energy Corp. UEC
UEC holds its hold rating as FY2025 revenue rebounded to $66.8M from near-zero in FY2024, and BlackRock's reported $432.7M new position is a significant institutional vote of confidence in the uranium thesis. However, the company still burned $70.2M in free cash flow and posted an $87.7M net loss for FY2025, and at a P/S of 303.8x versus a 7.03x peer median, the valuation premium is not yet earned on current fundamentals.
The stock has reclaimed its 50-day MA at $10.77 with a positive MACD histogram, but still trades 6% below its 200-day MA at $13.27, leaving the longer-term downtrend unresolved.
What could go wrong
- Sustained cash burn. FY2025 free cash flow was -$70.2M and operating cash flow was -$64.5M; with only $2.3M in total debt the balance sheet is clean, but persistent negative cash flow erodes the $983.9M equity base over time.
- Uranium price sensitivity. FY2024 revenue was just $224K, demonstrating that UEC will tolerate near-zero revenue periods rather than sell at unfavorable uranium prices — a strategy that pressures the stock during commodity downturns.
- Extreme valuation premium. P/S of 303.8x is 4221% above the 7.03x peer median, leaving the stock highly vulnerable to multiple compression if the nuclear renaissance narrative cools.
- Insider selling. On 2026-07-31 the CEO, CFO, SVP, and EVP all sold shares at $9.60; the 24-month insider net value is -$6.93M, suggesting limited insider conviction at recent prices.
What would change my mind
Where this comes from: FMP fundamentals, fiscal year ended 2025-07-31 · FMP fundamentals, fiscal year ended 2025-07-31 · peer relative data, as of 2026-08-28 · Defense World, published 2026-08-26. Orin's read on UEC; not advice.
Twelve months actual closes to 2026-09-24 · actual filings
50-day average 200-day average · volume below
On file
All UEC filingsLargest holders · 13F Q2 2026
Money flow| Filer | Position | Of fund |
|---|---|---|
| Price T Rowe Associates /Md/ | $800.9M | 0.1% of fund |
| Mirae Asset Global Etfs Holdings | $369.9M | 0.4% of fund |
| State Street | $335.9M | 0.0% of fund |
| Vanguard Portfolio Management | $255.4M | 0.0% of fund |
| Vanguard Capital Management | $235.7M | 0.0% of fund |
| Norges Bank | $186.5M | 0.0% of fund |
55 filers · quarter ended Q2 2026 · positions, not flows
Insiders, last 24 months: 161 Form 4 filings, net −$7.2M. Of the 50 on hand, none was an open-market trade— the rest are grants, option exercises and tax withholding.
Ask Orin about UEC
Orin answers questions about UEC from its filings, transcripts and numbers — with the source behind every claim. Your own desk starts with 3 free days, card required.
Start 3 free days →Where it trades
| Metric | Now | Own median | Sector |
|---|---|---|---|
| P/S | 232.00× | — | — |
| P/B | 3.3× | — | — |
What Wall Street published
$18
$12 – $27 · +89% against today's price
- 7 buy or overweight
- 1 hold
- 0 underweight or sell
The analysts’ consensus and their own ratings, not Orin’s. A target is a twelve-month opinion published by the firm that wrote it.
Against the companies it is compared to
| Company | Market cap | P/E | EV/EBITDA | Gross | Net | ROE |
|---|---|---|---|---|---|---|
| UECUranium Energy Corp. | $5B | — | — | 42.3% | -513.2% | -8% |
| HESMHess Midstream LP | $8B | 13.3× | 9.4× | 80.8% | 23.3% | 69% |
| LEUCentrus Energy Corp. | $3B | 58.7× | 28.9× | 23.3% | 10.2% | 7% |
| UUUUEnergy Fuels Inc. | $3B | — | — | 43.2% | -77.3% | -11% |
The median is of the 2 peers listed above and nothing else — check it against the column. The peer set is the vendor’s, so a company can appear here that a person would not have chosen.
What it has traded at
What its sector has traded at
Two scales, drawn separately on purpose: a sector median and one company’s multiple are not the same number and putting them on one axis invites a comparison neither series supports.
Every estimate on one scale
The vertical rule is the current price. Ranges and point estimates are the backend’s, published as they were calculated; an arrow means the estimate sits beyond this scale, and its number is on the right.