Uranium Resources Earnings: Falls Short of Estimates as Loss Widens
Uranium Resources, Inc. (NASDAQ:URRE) reported its results for the first quarter. Uranium Resources is engaged in the business of acquiring, exploring, developing and mining uranium properties, using the in situ recovery or solution mining process.
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Uranium Resources Earnings Cheat Sheet for the First Quarter
Results: Loss widened to $3.6 million (40 cents per diluted share) from $3 million (loss of 3 cents per share) in the same quarter a year earlier.
Actual vs. Wall St. Expectations: Uranium Resources, Inc. fell short of the mean analyst estimate of a loss of 3 cents per share.
Quoting Management: QuotDon Ewigleben, President and CEO of URI, commented, “We had quite an eventful first quarter as we entered into a merger agreement to acquire Neutron Energy, Inc. (“Neutron”) in a stock-for-stock transaction, announced a financing agreement that infused $10 million into URI and kicked off a number of ongoing development activities that will position the Company for future production. “Our near-term priorities are focused on the advancement of Churchrock Section eight, including the evaluation of the financing component for our construction activities and continued discussions with the royalty holders on our Section eight land.”
Looking Forward: Expectations for the second quarter have not changed from 3 cents. The average estimate for the fiscal year has remained at 11 cents per share.
Competitors to Watch: Uranium Energy Corp., Cameco Corporation, Uranerz Energy Corp., Ur-Energy Inc., Denison Mines Corp., Crosshair Exploration & Mining Corp., USEC Inc., General Moly, Inc., Ur-Energy Inc., and American Uranium Corp.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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