Energy Fuels (EFR.TO, UUUU) on Thursday was last seen up 1.8% in pre-market New York trading after the uranium and rare earths producer said it swung to a loss last year even as revenue doubled.
The company said it lost US$47.77 million, or US$0.28 per share, in 2024, compared with a profit of US$99.86 million, or US$0.62, in 2023. Quarterly results were not provided.
The company said the loss included US$10.34 million of transaction costs for its acquisition of Base Resources in Kenya and the Donald Project joint venture in Australia, as well as higher operating costs.
Revenue for the year jumped to US$78.11 million from US$37.93 million.
"2024 was a fundamental building year for Energy Fuels, as we resumed U.S. uranium mining, realized profitable uranium sales, achieved commercial U.S. rare earth production, and secured two 'Tier 1' critical mineral projects in allied nations, which upon development, are expected to be able to provide low-cost rare earth feedstocks to our U.S. processing plant," Chief Executive Mark Chalmers said.
Energy Fuel's shares were last seen up US$0.08 to US$4.52 pre-market. They closed up $0.13 to $6.35 Wednesday on the Toronto Stock Exchange.
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