Monitor the first uranium-loaded resin shipment from Shirley Basin to Lost Creek, expected imminently, which will mark the transition to full commercial operations and significantly expand production capacity. The company's 2026 delivery target of 1.0M lbs and strong cash position provide visibility, but uranium price volatility and operational ramp-up risks remain key watchpoints.
Price Chart
Executive Summary
Ur-Energy reported Q2 2026 operational results highlighting record drummed production of 140,873 lbs (up 47% QoQ) and final regulatory approval for full operations at Shirley Basin, positioning the company as the largest U.S. ISR uranium producer. Product sales revenue reached $14.4M from 215,000 lbs sold at $66.85/lb, with cash costs remaining low at $40.20/lb. The filing lacks GAAP net income and EPS, but operational momentum and the imminent first resin shipment from Shirley Basin mark a significant inflection point.
Key Financial Metrics
Key Facts
- Record drummed 140,873 lbs U3O8 in Q2 2026, up 47.4% QoQ and 25.7% YoY
- Shipped 149,747 lbs, up 44% QoQ and 42.2% YoY
- Sold 215,000 lbs at avg $66.85/lb, generating $14.4M product sales revenue
- Cash cost per lb sold remained low at $40.20
- Shirley Basin received final state regulatory approval for full operations in late June 2026; first resin shipment to Lost Creek expected imminently
- Unrestricted cash totaled $95.3M at June 30, 2026
- Expects base deliveries of 1.0M lbs in 2026; deferred 150,000 lbs to 2027 and 150,000 lbs to 2029
Financial Impact
Product sales revenue of $14.4M in Q2 2026, up ~38% YoY from $10.4M in Q2 2025. Cash cost per lb sold $40.20, up from $37.51 in Q1 2026 but down from $42.83 in Q2 2025.
Risk Factors
- Uranium price fluctuations could impact realized sales prices and margins
- Shirley Basin ramp-up may face operational or regulatory delays
- Cash burn from ongoing capital expenditures at Shirley Basin and exploration programs
- Dependence on long-term contract timing; deferrals shift revenue to later years
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-093457 |
| Document: urg-20260810x8k.htm | 0001104659-26-093457 |
| Document: 0001104659-26-093457-index-headers.html | 0001104659-26-093457 |
| Document: 0001104659-26-093457-index.html | 0001104659-26-093457 |
| Document: 0001104659-26-093457.txt | 0001104659-26-093457 |
| 8-K Data (Synthetic) | 0001104659-26-093457 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 8w ago | Insider Cluster | $1.53 $1.13 | ▼ −26.14% | ▼ −26.18% | $0.8200 (−46.41%) |
Aug 25, 2026 8w ago | Insider Cluster | $1.52 $1.13 | ▼ −25.66% | ▼ −25.88% | $0.8200 (−46.05%) |
Aug 24, 2026 9w ago | Insider Cluster | $1.48 $1.16 | ▼ −21.62% | ▼ −21.87% | $0.8200 (−44.59%) |
Aug 10, 2026 11w ago | 8-K | $1.39 $1.38 | ▼ −0.72% | ▲ +0.34% | $0.8200 (−41.01%) |
Apr 17, 2026 27w ago | EFFECT | $1.63 $1.83 | ▲ +12.27% | ▲ +6.90% | $0.8200 (−49.69%) |
Apr 16, 2026 27w ago | 8-K | $1.63 $1.83 | ▲ +12.27% | ▲ +6.90% | $0.8200 (−49.69%) |
Apr 16, 2026 27w ago | 424B5 | $1.63 $1.83 | ▲ +12.27% | ▲ +6.90% | $0.8200 (−49.69%) |
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