In an annual 10-K for the fiscal year ending July 31, 2016, Uranium Energy Corp (UEC) reported $0 in annual profit. According to financial statements, the uranium procurement firm reported an adjusted per-share quarterly loss of -$0.16.
In its consolidated income sheet, the firm’s net income for the quarter sat at negative -$17.33 million. The company reported no gross profit and no revenue for the year, according to a breakdown of statements by financial engine Tiingo.
Operating income for the year was negative -$14.33 million. The firm reported an interest expense of $3.01 million. This year, UEC's research and development costs tallied $4.06 million, while the firm's selling, general and administrative costs totaled $9.3 million.
The quarterly loss is an improvement from last year’s annual report. For the fiscal year ending July 31, 2015, the company reported an EPS loss of -$0.25. In 2015, UEC did report revenue of $3.08 million, but it reported expenses of $21.09 million.
In its report, the company discussed the broader challenges facing the uranium industry. Since the 2011 meltdown of a reactor in Fukushima, Japan, the cost of uranium has collapsed. Prices have plunged from $73 per pound one month before the meltdown to $23.75 per pound at the end of September 2016. (See also: 4 Clean-Energy Alternatives To Uranium).
Reduced demand for nuclear fuel and increased calls for the reduction of nuclear energy has weighed significantly on companies in the space. (See also: Why Uranium Won’t Recover Anytime Soon.)
Following the release of the annual statement, UEC stock fell 3.72% to $0.90 per share.
The stock’s 52-week high is $1.47, while its 52-week low is $0.65.
According to Yahoo! Finance, its one-year stock target price is $2.32.
That represents potential upside of 157.7%. Three analysts have a consensus “Buy” rating.
According to StockCharts, the stock’s Relative Strength Index sits at 36.86. The Relative Strength Index reading of 30 indicates that a stock has been oversold (See also: Uranium Energy on Verge of Oversold.)