BUZZ-H.C. Wainwright slightly increases PT on Energy Fuels

Reuters
08 Oct 2024

** H.C. Wainwright raises uranium miner Energy Fuels'

PT to $10.75 from $10.50 while it reiterates "buy" rating

** Shares of co flat at $5.40 premarket

** Co announced completion of its acquisition of Base Resources for ~$178.4 mln on Oct. 2

** Brokerage expects deal "to provide a variety of synergies"

** Newly-acquired Toliara Project to also increase co's supply of raw materials and "significantly improve its internal supply chain and costs" - H.C. Wainwright

** Co's management has created significant supply chain for low-cost rare-earth elements and critical minerals that should bring processing capabilities for them back to the U.S. - brokerage

** As of last close, stock is down ~25% YTD

(Reporting by Seher Dareen in Bengaluru)

((Seher.Dareen@thomsonreuters.com))

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