11:31 AM EDT, 03/12/2024 (MT Newswires) -- B. Riley said Tuesday that it slightly reduced its adjusted EBITDA estimates for Ur-Energy Inc. ( URG ) due to the company's higher operating expenses.

B. Riley made the change after the company reported revenue of $5.4 million and a net loss of $0.02 per share in the fourth quarter of 2023.

B. Riley noted that it was "highly encouraged" by Ur-Energy's ( URG ) announcement of two new uranium supply agreements. The company also outlined higher resource estimate at the Lost Creek project.

Ur-Energy ( URG ) received a buy rating with a $3 price target.

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