Ur-Energy Inc. (URG), an exploration-stage mining company, has seen a gain of 1.12% in the premarket trading session. As a result that, URG stock is trading at $1.80 at the time of this writing. On Monday, URG stock closed the day at $1.78 after gaining an increase of $1.78. This continuous rise in URG stock is perceived to be due to an increase in the spot price of Uranium by certain analysts. As a result that, the shares of all uranium mining companies, including Ur-Energy are continuously soaring. Let’s discuss some recent developments related to URG stock.
Q2 2021 financial results
On the 3rd of August, URG released the quarterly results for the second quarter of the fiscal year 2021 ended on 30th June 2021. According to the details, the company had cash and cash equivalents of $21.5 million on the 30th of June 2021. The company had a total; assets of $97.50 million on the 30th of June. The company generated a gross loss of $1.82 million during the quarter, as compared to the equivalent period of 2020 when the company generated a gross profit of $0.41 million. The company bore operating costs of $2.77 million during the quarter, while during the equivalent period of 2020, the operating costs stood at $2.22 million. The company had a net loss of $6.87 million during the quarter, while during the equivalent period of 2020, it was $2.22 million. The loss per common basic and diluted share during the quarter was $0.04, while during the equivalent period of 2020, it was $0.02. Commenting on the results, Ur-Energy Chairman and CEO, Jeff Klenda said that the company is encouraged by positive catalysts and increased investor interest in the uranium market, and that was evident in the quarterly results. He hoped that the company would continue to move forward in the right direction.
URG Joined Russell 3000 Index
On the 7th of June, URG announced that it was set to join the broad-market Russell 3000® Index. The joining would take place at the end of 021 Russell indexes annual reconstitution, effectively as the market opens on 28th of June, 2021. Russell indexes reconstitution results in the capture of 4000 of the largest stocks of US. There is ranking is base3d on the market capitalization ability. The membership of the index remains in place for about one year. FTSE Russell determines membership for its Russell indexes on the basis of style attributes, and most importantly, on the basis of market capitalization ranking. Jeff Klenda commented that the company is excited to be a part of the Russell 3000® Index. Further, he hoped that the inclusion in the Russell index would provide the company with an opportunity to expand its shareholder registry.
What lies in the future for URG?
Statistics reveal a very positive outlook for URG stock. The stock has gained tremendously in recent time, as evident from the fact that during previous month, it has increased by 54%, while during previous one week; it has increased by 20%. The EPS of URG is expected to rise some 250% during the next fiscal year. So, based on these statistics, URG stock could enjoy salutary times in the near future