Ur Energy Inc.

Ur-Energy Inc. (NYSE American: URG) is a mining company in the early exploration stage, focused on activities related to uranium mining, extraction, and processing. Their operations encompass the acquisition, exploration, development, and management of uranium mineral properties within the United States. The company's portfolio includes projects like Lost Creek, Shirley Basin, and various other projects located in the United States.

Recent Financial and Business Updates:

• Second Quarter Income Statement Review:
  • Reported a gross loss of USD 2.912 million in the June 2023 quarter, as against USD 1.64 million in the June 2022 quarter.
  • Reported a net loss of USD 7.28 million in the June 2023 quarter, compared to USD 353,000 in the June 2022 quarter.
  • The comprehensive loss for the June 2023 quarter was USD 7.4 million.
  • Reported basic and diluted loss per common share of USD 0.03 in the June 2023 quarter.
• Balance Sheet Review:
  • Total assets amounted to USD 139.608 million as of June 30, 2023.
  • Current assets were reported to USD 75.45 million as of June 30, 2023.
  • Total current liabilities amounted to USD 8.104 million as of June 30, 2023.
  • Total shareholders' equity was USD 89.411 million as of June 30, 2023.

Technical Observation (on the daily chart)

On daily price chart, stock has moved below 9-day SMA and leading momentum indicator also indicating that bears are getting control over bulls. Also, stock has moved below the middle band of the Bollinger Band indicating a downward trend in the stock. Unless the stock USD 1.52 levels, an upside in the stock will be largely capped.

As per the above-mentioned price action, recent key business and financial updates, momentum in the stock over the last month, and technical indicators analysis, a “WATCH” rating is recommended for Ur-Energy Inc. (NYSE American: URG) at the price of USD 1.45 as on October 12, 2023, at 7:15 am PDT.

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario. 

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing. 

Related Risk: This report may be looked at from a high-risk perspective and a recommendation is provided for a short duration. This report is solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc. 

How to Read the Charts?

The yellow colour line reflects the 21-period simple moving average (SMA) while the blue line indicates the 50- period simple moving average (SMA). SMA helps to identify existing price trends. If the prices are trading above the 21-period and 50-period moving average, then it shows prices are currently trading in a bullish trend.

The orange colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period) which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status while a reading of 30 or below suggests an oversold status.

The red and green colour bars in the chart’s lower segment show the volume of the stock. The volume is the number of shares that changed hands during a given day. Stocks with high volumes are more liquid than stocks with lesser volume as liquidity in stocks helps with easier and faster execution of the order.

The Orange colour lines are the trend lines drawn by connecting two or more price points and used for trend identification purposes. The trend line also acts as a line of support and resistance.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock. 

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock. 

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices. 

The reference date for all price data, currency, technical indicators, support, and resistance levels is October 12, 2023. The reference data in this report has been partly sourced from REFINITIV. 

Abbreviations

CMP: Current Market Price

SMA: Simple Moving Average

RSI: Relative Strength Index

USD: United States dollar

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