Markets

Ur-Energy Stock Plunges 8%, Wiping Out $28 Million, As CFO Roger Smith Retires

Shares of the Wyoming uranium miner fell to $0.78 in Monday trading after it named Jade Walle to replace Smith on December 1.

Ur-Energy, which mines and processes uranium in Wyoming, said CFO Roger Smith will retire effective December 1, with Jade Walle, who joined as vice president of finance in September 2025, taking over. Shares fell 7.96% to $0.78 in Monday trading as of 2:41 p.m. ET, erasing about $28 million in market value.

A combined role disappears

The change also ends the combined post of CFO and Chief Administrative Officer, according to the SEC filing. Its administrative duties will be split among several senior managers.

Monday's drop was the stock's third straight daily decline and its biggest one-day fall since October 12, when it dropped 8.6%. The company has said it will file an amendment disclosing any material changes to Walle's compensation.

A stock down 39% this year

Ur-Energy shares were down about 39% this year at Friday's close, while the S&P 500 was up about 11%. They had slid 21% in the month before Monday's session.

The company's main operation is the Lost Creek Project in Sweetwater County, Wyoming, where it dissolves uranium underground, pumps it to a plant and packages it as yellowcake. It sells to US utilities, and its Shirley Basin project is its second main property.

Last quarter's numbers

For the second quarter, Ur-Energy reported revenue of $14.4 million, up 37.7% from a year earlier, and a net loss of $16.7 million. It sold 215,000 pounds at a cash cost of $40.20 a pound, and held $95.3 million in unrestricted cash at June 30.

In its earnings release, CEO Matt Gili said the quarter "marked an inflection point for Ur-Energy." The company drummed a record 140,873 pounds in the quarter and received final state approval in late June to begin full production at Shirley Basin.

Smith's retirement takes effect December 1, when Walle becomes CFO.