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Ur-Energy

URG on NYSEAmerican. Gold and silver ores. Market value $422m.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Materials stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
-24.8%low

For every $100 of what the whole company costs, it produced $-24.77 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: 24 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$1.06 a share, 3% above its 1-year low

Over the past year the price has ranged from $1.03 to $2.35.

Pays no dividend

Prices from Monday’s close (5 October).

Five years of cash, in billions

-0.0
0.0
-0.0
-0.1
-0.1
-0.1
2018201920232024202512 monthsto Jun '26

Spare cash swings from quarter to quarter here: a shortfall of $104 million in the past 12 months, a shortfall of $67 million in the year to December 2025.

Revenue
$23m$32m$18m$34m$27m
Operating margin
5.6%-25.7%-174.5%-187.2%-255.0%
Debt to equity
0.290.28n/an/an/a
Shares outstanding
0.16bn0.17bn0.36bn0.38bn0.40bn

Health checks

  • Free cash flow positive1 of 5 years
  • Accounting checksSkipped: company is not yet profitable
  • DebtUnknown
  • Revenue growth, five yearsShrinking, 4.2% a year
  • Buying back its own sharesNo, 149% more shares since 2018

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $14 million last quarter, up 38% on a year ago.
  • A loss of $17 million, compared with a loss of $21 million a year ago.
  • It loses 218 cents on each $1 of sales, compared with 170 cents a year earlier.
  • Over the past 12 months it spent $104 million more cash than it brought in, compared with $72 million a year earlier.
  • 9% more shares than a year ago. Each share owns a bit less of the company.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$6m
December 2024$23m
March 2025Not reported
June 2025$10m
September 2025$6m
December 2025$10m
March 2026$4m
June 2026$14m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$8m
December 2024-$20m
March 2025-$11m
June 2025-$21m
September 2025-$27m
December 2025-$16m
March 2026-$29m
June 2026-$17m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
10 March 2026
Next quarterly (estimated, 10-Q)
9 November 2026

Who owns it

1 long-term investor we follow owns it, unchanged from 1 last quarter. 163 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

8 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 3 insiders bought $742,182 of shares on the open market. 8 sold $2m.

  • Walle Jade
    VICE PRESIDENT FINANCE
    Bought
    Date
    24 September 2026
    Shares
    96,556
    Price
    $1.14
    Value
    $110,071
  • Walle Jade
    VICE PRESIDENT FINANCE
    Bought
    Date
    11 September 2026
    Shares
    75,581
    Price
    $1.29
    Value
    $97,499
  • Parker Thomas H
    Director
    Sold
    Date
    25 August 2026
    Shares
    87,858
    Price
    $1.48
    Value
    $130,276
  • HUBER GARY C
    Director
    Sold
    Date
    25 August 2026
    Shares
    87,858
    Price
    $1.48
    Value
    $129,942
  • RITCHIE DAVID A.
    GENERAL COUNSEL/CORP SECRETARY
    Bought
    Date
    24 August 2026
    Shares
    10,000
    Price
    $1.42
    Value
    $14,200
  • CASH JOHN
    Director
    Sold
    Date
    24 August 2026
    Shares
    77,751
    Price
    $1.41
    Value
    $109,652
  • Chang Robby Sai Kit
    Director
    Sold
    Date
    24 August 2026
    Shares
    75,588
    Price
    $1.41
    Value
    $106,503
  • SMITH ROGER L.
    CHIEF FINANCIAL OFFICER
    Sold
    Date
    24 August 2026
    Shares
    103,536
    Price
    $1.43
    Value
    $148,284
  • WALKER KATHY E
    Director
    Sold
    Date
    21 August 2026
    Shares
    72,838
    Price
    $1.38
    Value
    $100,546
  • HATTEN STEVEN M.
    Chief Operating Officer
    Sold
    Date
    21 August 2026
    Shares
    81,576
    Price
    $1.39
    Value
    $113,227

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

  • Sales have shrunk: 4.2% a year.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.