7
Producers Covered
1707M lbs
Combined Resources (U3O8)
23.9M lbs
Combined 2024 Production
$94.08/lb
Uranium Spot Price
Scoring methodology: Resource Quality 30% · Stage & Timeline 25% ·
Cost Structure 25% · Valuation 20%. Cost score vs spot requires URANIUM_SPOT_LB in .env.
Fundamental data as of Q4 2024 — update quarterly.
📊 Producer Scorecards (ranked by composite score)
EU
enCore Energy Corp.
87
composite
Producer
USA
Resources:
51M lbs
(31M M&I)
Cost: $33.00/lb
Production: 0.5M lbs/yr
EV/lb: $4.38/lb
Price: $1.470
Mkt Cap: $286M
Resource
59
Stage
100
Cost
100
Valuation
100
Thesis: Pure-play US ISR producer — South Texas hub model with multiple licensed processing facilities (Rosita CPP, Alta Mesa CPP). Acquired former URI / Westwater Resources Texas assets — step-change in reso…
PALAF
Paladin Energy Ltd.
83
composite
Producer
Namibia
Resources:
252M lbs
(232M M&I)
Cost: $32.00/lb
Production: 3.5M lbs/yr
EV/lb: $13.89/lb
Price: $8.050
Mkt Cap: $3617M
Resource
83
Stage
100
Cost
100
Valuation
41
Thesis: Langer Heinrich Mine (Namibia) restarted 2024 after ~8yr care & maintenance. Tier-2 but large deposit with long mine life. Namibia is uranium-friendly jurisdiction with established export track record…
CCJ
Cameco Corporation
78
composite
Producer
Canada / Kazakhstan
Resources:
556M lbs
(404M M&I)
Cost: $32.00/lb
Production: 18.0M lbs/yr
EV/lb: $83.17/lb
Price: $106.100
Mkt Cap: $46210M
Resource
91
Stage
100
Cost
100
Valuation
5
Thesis: World's largest listed uranium producer. Tier-1 Athabasca Basin assets (McArthur River/Key Lake, Cigar Lake). 49% stake in Westinghouse (nuclear fuel services). Disciplined with production — will ramp…
UEC
Uranium Energy Corp
76
composite
Producer
USA
Resources:
330M lbs
(230M M&I)
Cost: $28.00/lb
Production: 1.1M lbs/yr
EV/lb: $18.86/lb
Price: $13.270
Mkt Cap: $6505M
Resource
72
Stage
100
Cost
100
Valuation
23
Thesis: Largest US uranium producer by resource base. Hub-and-spoke ISR model in Wyoming + Texas — low capex restart (no new mines needed). Physical uranium inventory (2.3M+ lbs stockpiled). Acquired Uranium …
UUUU
Energy Fuels Inc.
69
composite
Producer
USA
Resources:
49M lbs
(32M M&I)
Cost: $35.00/lb
Production: 0.8M lbs/yr
EV/lb: $87.53/lb
Price: $17.955
Mkt Cap: $4486M
Resource
61
Stage
100
Cost
100
Valuation
5
Thesis: Only US company with a licensed conventional uranium mill (White Mesa, UT). Growing rare earth element (REE) separation business — diversifies revenue. Monazite processing from mineral sands creates R…
NXE
NexGen Energy Ltd.
68
composite
Feasibility
Canada
Resources:
337M lbs
(257M M&I)
Cost: $4.57/lb
Production: —
EV/lb: $19.87/lb
Price: $10.690
Mkt Cap: $7076M
Resource
92
Stage
60
Cost
100
Valuation
5
Thesis: Arrow deposit is the largest high-grade uranium discovery in the Athabasca Basin since Cigar Lake. FS shows lowest-cost major uranium project globally at ~$4.57/lb operating cost. At full production (…
DNN
Denison Mines Corp.
68
composite
Feasibility
Canada
Resources:
130M lbs
(126M M&I)
Cost: $8.93/lb
Production: —
EV/lb: $21.98/lb
Price: $3.230
Mkt Cap: $2923M
Resource
93
Stage
60
Cost
100
Valuation
5
Thesis: Wheeler River Phoenix zone is world's first ISR uranium project in Athabasca Basin — could be transformational if successful. 95% owned McClean Lake Mill (toll milling) generates cash flow. Exploratio…
📋 Comparison Table
| Ticker | Stage | Jurisdiction | Resources | M&I / Total | Cost | Prod. | Price | Mkt Cap | EV/lb | Score |
|---|---|---|---|---|---|---|---|---|---|---|
| EU | Producer | USA | 51M lbs |
31M / 51M 60% M&I |
$33.00/lb | 0.5M | $1.470 | $286M | $4.38/lb |
87 |
| PALAF | Producer | Namibia | 252M lbs |
232M / 252M 92% M&I |
$32.00/lb | 3.5M | $8.050 | $3617M | $13.89/lb |
83 |
| CCJ | Producer | Canada / Kazakhstan | 556M lbs |
404M / 556M 73% M&I |
$32.00/lb | 18.0M | $106.100 | $46210M | $83.17/lb |
78 |
| UEC | Producer | USA | 330M lbs |
230M / 330M 70% M&I |
$28.00/lb | 1.1M | $13.270 | $6505M | $18.86/lb |
76 |
| UUUU | Producer | USA | 49M lbs |
32M / 49M 64% M&I |
$35.00/lb | 0.8M | $17.955 | $4486M | $87.53/lb |
69 |
| NXE | Feasibility | Canada | 337M lbs |
257M / 337M 76% M&I |
$4.57/lb | — | $10.690 | $7076M | $19.87/lb |
68 |
| DNN | Feasibility | Canada | 130M lbs |
126M / 130M 96% M&I |
$8.93/lb | — | $3.230 | $2923M | $21.98/lb |
68 |