Ur-Energy Plunges 6.94% as Q3 Earnings Miss and Cash Reserves Shrink to $52M

Ur-Energy Inc. (URG) fell to its lowest level since September 2025 on Nov. 6, with an intraday decline of 6.94% as the stock extended its losing streak to three consecutive sessions, dropping 20.35% over the past three days.

The selloff follows mixed third-quarter results, including a revenue shortfall of $6.3 million—below estimates of $7.79 million—and a net loss per share of $0.02. Declining cash reserves, which fell to $52 million by Sept. 30 from $76.1 million at year-end 2024, have raised concerns about liquidity constraints. The company’s reliance on inventory sales to meet 2025 obligations highlights near-term operational challenges despite marginal cost reductions at its Lost Creek in-situ recovery facility.

Long-term optimism persists around the Shirley Basin ISR Project, which is on track for a Q1 2026 production startup. Operational readiness and infrastructure progress at the site, combined with exploration efforts in the Great Divide Basin, position the company to expand its uranium resource base. Management also emphasized alignment with the U.S. government’s $80 billion nuclear energy investment, which could drive demand for uranium in the coming years.

While short-term risks—such as liquidity pressures and project execution delays—loom, Ur-Energy’s strategic focus on cost efficiency and new production capacity underscores its potential to capitalize on the sector’s growth. Investors will likely monitor the Shirley Basin’s progress and Q4 sales performance, with 165,000 pounds of U3O8 expected to be delivered at an average price of $63.20 per pound, offering a partial offset to Q3’s underperformance.