Intrinsic value of Ur-Energy - URG

Previous Close

$0.68

  Intrinsic Value

$0.42

stock screener

  Rating & Target

sell

-39%

Previous close

$0.68

 
Intrinsic value

$0.42

 
Up/down potential

-39%

 
Rating

sell

We calculate the intrinsic value of URG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -35.71
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  27
  43
  67
  100
  145
  204
  281
  377
  495
  637
  805
  999
  1,222
  1,473
  1,752
  2,060
  2,396
  2,760
  3,152
  3,569
  4,013
  4,482
  4,976
  5,494
  6,037
  6,603
  7,194
  7,809
  8,450
  9,115
  9,807
Variable operating expenses, $m
 
  45
  69
  104
  150
  212
  291
  391
  513
  661
  834
  1,036
  1,267
  1,527
  1,817
  2,136
  2,485
  2,862
  3,268
  3,701
  4,161
  4,648
  5,160
  5,697
  6,260
  6,848
  7,460
  8,098
  8,762
  9,453
  10,170
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  27
  45
  69
  104
  150
  212
  291
  391
  513
  661
  834
  1,036
  1,267
  1,527
  1,817
  2,136
  2,485
  2,862
  3,268
  3,701
  4,161
  4,648
  5,160
  5,697
  6,260
  6,848
  7,460
  8,098
  8,762
  9,453
  10,170
Operating income, $m
  1
  -2
  -2
  -4
  -5
  -8
  -10
  -14
  -18
  -24
  -30
  -37
  -45
  -54
  -65
  -76
  -89
  -102
  -117
  -132
  -148
  -166
  -184
  -203
  -223
  -244
  -266
  -289
  -313
  -337
  -363
EBITDA, $m
  6
  6
  10
  15
  21
  30
  42
  56
  73
  94
  119
  148
  181
  218
  260
  305
  355
  409
  467
  529
  595
  664
  737
  814
  894
  978
  1,066
  1,157
  1,252
  1,351
  1,453
Interest expense (income), $m
  2
  2
  4
  7
  12
  18
  26
  36
  49
  66
  85
  108
  134
  165
  199
  237
  279
  325
  375
  429
  486
  546
  610
  678
  749
  823
  900
  981
  1,065
  1,153
  1,244
Earnings before tax, $m
  -3
  -3
  -6
  -11
  -17
  -25
  -36
  -50
  -68
  -89
  -115
  -145
  -180
  -219
  -264
  -314
  -368
  -428
  -492
  -561
  -634
  -712
  -795
  -881
  -972
  -1,067
  -1,167
  -1,270
  -1,378
  -1,490
  -1,607
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -3
  -3
  -6
  -11
  -17
  -25
  -36
  -50
  -68
  -89
  -115
  -145
  -180
  -219
  -264
  -314
  -368
  -428
  -492
  -561
  -634
  -712
  -795
  -881
  -972
  -1,067
  -1,167
  -1,270
  -1,378
  -1,490
  -1,607

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  90
  141
  217
  325
  472
  666
  915
  1,228
  1,613
  2,075
  2,621
  3,255
  3,979
  4,796
  5,707
  6,710
  7,806
  8,991
  10,266
  11,626
  13,072
  14,599
  16,208
  17,896
  19,663
  21,509
  23,434
  25,438
  27,523
  29,692
  31,946
Adjusted assets (=assets-cash), $m
  88
  141
  217
  325
  472
  666
  915
  1,228
  1,613
  2,075
  2,621
  3,255
  3,979
  4,796
  5,707
  6,710
  7,806
  8,991
  10,266
  11,626
  13,072
  14,599
  16,208
  17,896
  19,663
  21,509
  23,434
  25,438
  27,523
  29,692
  31,946
Revenue / Adjusted assets
  0.307
  0.305
  0.309
  0.308
  0.307
  0.306
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
Average production assets, $m
  30
  48
  74
  111
  161
  227
  312
  419
  550
  708
  894
  1,110
  1,357
  1,636
  1,946
  2,289
  2,662
  3,067
  3,501
  3,965
  4,458
  4,979
  5,528
  6,104
  6,707
  7,336
  7,993
  8,676
  9,388
  10,127
  10,896
Working capital, $m
  -1
  3
  5
  7
  11
  15
  21
  28
  37
  47
  60
  74
  90
  109
  130
  152
  177
  204
  233
  264
  297
  332
  368
  407
  447
  489
  532
  578
  625
  675
  726
Total debt, $m
  24
  53
  98
  162
  249
  363
  511
  696
  923
  1,196
  1,519
  1,894
  2,322
  2,805
  3,343
  3,936
  4,583
  5,284
  6,037
  6,841
  7,695
  8,598
  9,549
  10,546
  11,591
  12,682
  13,819
  15,004
  16,236
  17,518
  18,850
Total liabilities, $m
  54
  83
  128
  192
  279
  393
  541
  726
  953
  1,226
  1,549
  1,924
  2,352
  2,835
  3,373
  3,966
  4,613
  5,314
  6,067
  6,871
  7,725
  8,628
  9,579
  10,576
  11,621
  12,712
  13,849
  15,034
  16,266
  17,548
  18,880
Total equity, $m
  36
  58
  89
  133
  193
  272
  374
  502
  660
  849
  1,072
  1,331
  1,628
  1,962
  2,334
  2,744
  3,192
  3,677
  4,199
  4,755
  5,346
  5,971
  6,629
  7,319
  8,042
  8,797
  9,584
  10,404
  11,257
  12,144
  13,066
Total liabilities and equity, $m
  90
  141
  217
  325
  472
  665
  915
  1,228
  1,613
  2,075
  2,621
  3,255
  3,980
  4,797
  5,707
  6,710
  7,805
  8,991
  10,266
  11,626
  13,071
  14,599
  16,208
  17,895
  19,663
  21,509
  23,433
  25,438
  27,523
  29,692
  31,946
Debt-to-equity ratio
  0.667
  0.920
  1.110
  1.220
  1.290
  1.330
  1.360
  1.390
  1.400
  1.410
  1.420
  1.420
  1.430
  1.430
  1.430
  1.430
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
Adjusted equity ratio
  0.386
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -3
  -3
  -6
  -11
  -17
  -25
  -36
  -50
  -68
  -89
  -115
  -145
  -180
  -219
  -264
  -314
  -368
  -428
  -492
  -561
  -634
  -712
  -795
  -881
  -972
  -1,067
  -1,167
  -1,270
  -1,378
  -1,490
  -1,607
Depreciation, amort., depletion, $m
  5
  8
  12
  18
  27
  38
  52
  70
  92
  118
  149
  185
  226
  273
  324
  381
  444
  511
  584
  661
  743
  830
  921
  1,017
  1,118
  1,223
  1,332
  1,446
  1,565
  1,688
  1,816
Funds from operations, $m
  1
  5
  6
  8
  10
  13
  16
  20
  24
  29
  34
  40
  47
  53
  60
  68
  76
  84
  92
  100
  109
  118
  127
  136
  146
  155
  166
  176
  187
  198
  209
Change in working capital, $m
  -2
  1
  2
  2
  3
  4
  6
  7
  9
  11
  12
  14
  16
  19
  21
  23
  25
  27
  29
  31
  33
  35
  37
  38
  40
  42
  44
  46
  47
  49
  51
Cash from operations, $m
  3
  4
  4
  5
  7
  8
  10
  12
  15
  18
  22
  26
  30
  35
  40
  45
  51
  57
  63
  69
  76
  83
  90
  98
  105
  113
  122
  130
  139
  149
  158
Maintenance CAPEX, $m
  0
  -5
  -8
  -12
  -18
  -27
  -38
  -52
  -70
  -92
  -118
  -149
  -185
  -226
  -273
  -324
  -381
  -444
  -511
  -584
  -661
  -743
  -830
  -921
  -1,017
  -1,118
  -1,223
  -1,332
  -1,446
  -1,565
  -1,688
New CAPEX, $m
  0
  -18
  -26
  -37
  -50
  -66
  -85
  -107
  -131
  -158
  -186
  -216
  -247
  -279
  -311
  -342
  -374
  -404
  -435
  -464
  -493
  -521
  -549
  -576
  -603
  -630
  -656
  -684
  -711
  -740
  -769
Cash from investing activities, $m
  0
  -23
  -34
  -49
  -68
  -93
  -123
  -159
  -201
  -250
  -304
  -365
  -432
  -505
  -584
  -666
  -755
  -848
  -946
  -1,048
  -1,154
  -1,264
  -1,379
  -1,497
  -1,620
  -1,748
  -1,879
  -2,016
  -2,157
  -2,305
  -2,457
Free cash flow, $m
  3
  -19
  -30
  -44
  -62
  -85
  -113
  -146
  -186
  -231
  -282
  -339
  -402
  -470
  -543
  -622
  -704
  -792
  -883
  -978
  -1,078
  -1,181
  -1,288
  -1,399
  -1,515
  -1,634
  -1,757
  -1,885
  -2,018
  -2,156
  -2,298
Issuance/(repayment) of debt, $m
  -9
  31
  45
  64
  87
  115
  147
  185
  227
  273
  323
  375
  428
  483
  538
  593
  647
  701
  753
  804
  854
  903
  951
  998
  1,044
  1,091
  1,138
  1,185
  1,233
  1,282
  1,332
Issuance/(repurchase) of shares, $m
  7
  25
  38
  55
  77
  104
  138
  178
  225
  278
  338
  404
  476
  554
  636
  724
  816
  913
  1,013
  1,117
  1,225
  1,337
  1,452
  1,572
  1,695
  1,822
  1,954
  2,090
  2,231
  2,377
  2,528
Cash from financing (excl. dividends), $m  
  -3
  56
  83
  119
  164
  219
  285
  363
  452
  551
  661
  779
  904
  1,037
  1,174
  1,317
  1,463
  1,614
  1,766
  1,921
  2,079
  2,240
  2,403
  2,570
  2,739
  2,913
  3,092
  3,275
  3,464
  3,659
  3,860
Total cash flow (excl. dividends), $m
  0
  37
  53
  75
  102
  134
  173
  217
  266
  321
  378
  439
  502
  566
  631
  695
  759
  822
  883
  943
  1,002
  1,059
  1,115
  1,170
  1,225
  1,279
  1,334
  1,389
  1,445
  1,503
  1,562
Retained Cash Flow (-), $m
  -3
  -25
  -38
  -55
  -77
  -104
  -138
  -178
  -225
  -278
  -338
  -404
  -476
  -554
  -636
  -724
  -816
  -913
  -1,013
  -1,117
  -1,225
  -1,337
  -1,452
  -1,572
  -1,695
  -1,822
  -1,954
  -2,090
  -2,231
  -2,377
  -2,528
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  12
  16
  20
  25
  30
  35
  39
  41
  42
  40
  35
  26
  13
  -5
  -29
  -57
  -91
  -130
  -174
  -224
  -278
  -338
  -402
  -470
  -543
  -620
  -701
  -786
  -874
  -966
Discount rate, %
 
  6.80
  7.14
  7.50
  7.87
  8.27
  8.68
  9.11
  9.57
  10.05
  10.55
  11.08
  11.63
  12.21
  12.82
  13.46
  14.14
  14.84
  15.59
  16.37
  17.18
  18.04
  18.94
  19.89
  20.89
  21.93
  23.03
  24.18
  25.39
  26.66
  27.99
PV of cash for distribution, $m
 
  11
  14
  16
  18
  20
  21
  21
  20
  18
  15
  11
  7
  3
  -1
  -4
  -7
  -9
  -10
  -10
  -9
  -9
  -7
  -6
  -5
  -4
  -3
  -2
  -1
  -1
  -1
Current shareholders' claim on cash, %
  100
  80.6
  65.6
  54.0
  44.9
  37.8
  32.1
  27.5
  23.8
  20.7
  18.2
  16.1
  14.3
  12.7
  11.4
  10.3
  9.4
  8.5
  7.8
  7.1
  6.5
  6.0
  5.5
  5.1
  4.7
  4.4
  4.1
  3.8
  3.5
  3.3
  3.0

Ur-Energy Inc. is an exploration-stage mining company. The Company is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development and operation of uranium mineral properties in the United States. Its flagship property is the Lost Creek Project in Sweetwater County, Wyoming. Its land portfolio includes over 10 projects in the United States. Approximately 10 of the United States projects are in the Great Divide Basin, Wyoming, including its flagship project, Lost Creek Project. It controls a total approximately 2,100 unpatented mining claims and over four State of Wyoming mineral leases for a total of approximately 42,000 acres in the area of the Lost Creek Property, including the Lost Creek permit area and certain adjoining properties, which refers to as LC East, LC West, LC North, LC South and EN project areas. Its Wyoming properties together total over 66,000 acres and include over two properties Shirley Basin and Lucky Mc.

FINANCIAL RATIOS  of  Ur-Energy (URG)

Valuation Ratios
P/E Ratio -32.6
Price to Sales 3.6
Price to Book 2.7
Price to Tangible Book
Price to Cash Flow 32.6
Price to Free Cash Flow 32.6
Growth Rates
Sales Growth Rate -35.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate -100%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 52.8%
Total Debt to Equity 66.7%
Interest Coverage -1
Management Effectiveness
Return On Assets -1.1%
Ret/ On Assets - 3 Yr. Avg. -2.4%
Return On Total Capital -4.8%
Ret/ On T. Cap. - 3 Yr. Avg. -6.1%
Return On Equity -8.7%
Return On Equity - 3 Yr. Avg. -12.4%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 40.7%
Gross Margin - 3 Yr. Avg. 36.5%
EBITDA Margin 14.8%
EBITDA Margin - 3 Yr. Avg. 11.2%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. -8.8%
Pre-Tax Margin -11.1%
Pre-Tax Margin - 3 Yr. Avg. -17.2%
Net Profit Margin -11.1%
Net Profit Margin - 3 Yr. Avg. -14.8%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 25%
Payout Ratio 0%

URG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the URG stock intrinsic value calculation we used $27 million for the last fiscal year's total revenue generated by Ur-Energy. The default revenue input number comes from 2016 income statement of Ur-Energy. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our URG stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.8%, whose default value for URG is calculated based on our internal credit rating of Ur-Energy, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Ur-Energy.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of URG stock the variable cost ratio is equal to 103.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for URG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.1% for Ur-Energy.

Corporate tax rate of 27% is the nominal tax rate for Ur-Energy. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the URG stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for URG are equal to 111.1%.

Life of production assets of 6 years is the average useful life of capital assets used in Ur-Energy operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for URG is equal to 7.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $36 million for Ur-Energy - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 151.295 million for Ur-Energy is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Ur-Energy at the current share price and the inputted number of shares is $0.1 billion.

RELATED COMPANIES Price Int.Val. Rating
DNN Denison Mines 0.590 0.08  str.sell

COMPANY NEWS

▶ Why Uranium Stocks Are Glowing for Investors   [Dec-08-17 06:00AM  Investopedia]
▶ Ur-Energy Releases 2017 Q3 Results   [Oct-27-17 05:11PM  PR Newswire]
▶ Ur-Energy Provides 2017 Q3 Operational Results   [Oct-13-17 08:04AM  PR Newswire]
▶ Canadian Securities Exchange Launches CSE25 Index   [Sep-18-17 03:22PM  Newsfile]
▶ Ur-Energy Releases 2017 Q2 Results   [Jul-28-17 05:21PM  PR Newswire]
▶ Ur-Energy Provides 2017 Q2 Operational Results   [Jul-13-17 05:03PM  CNW Group]
▶ Ur-Energy Releases 2017 Q1 Results   [May-05-17 04:12PM  CNW Group]
▶ Ur-Energy Provides 2017 Q1 Operational Results   [Apr-13-17 08:18AM  PR Newswire]
▶ Ur-Energy Releases 2016 Year End Results   [Mar-03-17 05:36PM  PR Newswire]
▶ Why Uranium Wont Recover Anytime Soon (CCJ, UEC)   [Sep-19-16 04:26PM  at Investopedia]
▶ Ur-Energy to Host Webcast and Teleconference Tomorrow   [Aug-01-16 11:07AM  PR Newswire]
▶ Ur-Energy Provides 2016 Q2 Operational Results   [Jul-14-16 08:30AM  PR Newswire]
▶ Ur-Energy Confirms No Corporate Developments   [Jun-06-16 03:07PM  PR Newswire]
▶ Ur-Energy Provides 2016 Q1 Operational Results   [Apr-12-16 04:41PM  PR Newswire]
▶ Ur-Energy to Host Webcast and Teleconference   [Feb-29-16 11:51AM  PR Newswire]
▶ Ur-Energy Releases 2015 Year End Results   [05:44PM  PR Newswire]
▶ Ur-Energy Announces Bought Deal Financing   [08:22AM  PR Newswire]
Financial statements of URG
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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