UUUU vs UEC: Energy Fuels Inc vs Uranium Energy Corp Compared
Energy Fuels (UUUU) vs Uranium Energy Corp (UEC) compared — two US-focused uranium names side by side on resources, AISC, and valuation, plus which suits which investor.
Informational only — not investment advice.
| UUUU | UEC | |
|---|---|---|
| Stage | producer | developer |
| Total resources | 66.8 Mlbs | 86.2 Mlbs |
| AISC | $42/lb | $38/lb |
| EV / lb resource | $2.45/lb | $1.92/lb |
| Price / NAV | 1.5x | 1.8x |
| Operating margin | 18.2% | -8.5% |
Resource sources:UUUU: Energy Fuels Inc Form 10-K for fiscal year ended 2025-12-31 (filed 2026-02-26); 'Mineral Resource Estimates - In Situ Uranium' and 'Mineral Reserve Estimates - In Situ Uranium' summary tables ↗UEC: Uranium Energy Corp Form 10-K for fiscal year ended 2025-07-31 (filed 2025-09-24) ↗
Which suits which investor?
Both are US-focused. UUUU (Energy Fuels) is the leading conventional US producer, with the White Mesa mill and a rare-earths business that adds optionality and complexity. UEC (Uranium Energy Corp) is an ISR-focused, near-production developer offering purer uranium leverage. Investors wanting diversified processing and rare-earth upside lean UUUU; those wanting a cleaner US uranium bet lean UEC.