Energy Fuels Inc (UUUU) News & EventsUUUUEnergy Fuels Inc

Tesla Recalls 20,349 Vehicles Over Low Beam Headlight Issue

Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean energy space, as well as which stocks in these sectors that the best analysts on Wall Street are saying to buy and sell.From the hotly-debated high-flier Tesla, Wall Street's newest darling Rivian, traditional-stalwarts turned EV-upstarts GMand Fordto the numerous SPAC-deal makers that have come public in this red-hot space, The Fly has you covered with "Charged," a weekly recap of the top stories and expert calls in the sector.Clickto check out Tesla's recent Media Buzz Sentiment as measured by TipRanks.ROADSTER:Tesla appears to be nearing the long-delayed unveiling of its radically redesigned Roadster, with CEO Elon Musk and design chief Franz von Holzhausen recently signaling that the reveal is imminent and potentially featuring flying capabilities, The Information's Grace Kay.TESLA-SPACEX MERGER:In the $1T pay package approved by Tesla's shareholders, there is an escape clause that could pay off Elon Musk in a few different ways if he folds the automaker into SpaceX, Theo Francis and Andrew Mollica of The Wall Street Journal. A tie-up between the two companies would give Musk tighter control at Tesla and a hefty-enough price would wipe away key performance targets standing between Musk and the pay package.RECALL:Tesla is recalling 20,349 vehicles in the U.S. over low beam headlights that may be excessively bright, potentially reducing visibility for oncoming drivers and raising crash risk, the NHTSA says. The recall affects certain Model 3 and Model Y vehicles.BUY FIRST SOLAR:Baird initiated coverage of First Solarwith an Outperform rating with a price target of $318, up from $205. The company will benefit from a strong utility scale market while the Section 232 tariffs remove an overhang for bookings to resume, the firm tells investors in a research note. Baird also believes First Solar's estimates are now "more appropriately calibrated." The Section 232 overhang being removed "simplifies the story" and will catalyze First Solar's bookings for 2029-2030, contends the firm.BULLISH ON ENERGY FUELS:BMO Capital initiated coverage of Energy Fuelswith an Outperform rating and $18 price target. Energy Fuels is positioned to become the largest Western producer of sintered rare earth permanent magnets and one of only a few integrated rare earth producers outside of China following a series of acquisitions, the firm tells investors in a research note. BMO says Energy Fuels is also the largest producer of uranium in the U.S., a commodity that is benefiting from "renewed nuclear growth tailwinds."

Energy Fuels' Acquisition of ASM Receives 98.23% Support

Energy Fuels announced it has reached a major milestone toward its planned acquisition of Australian Strategic Materials, or ASM, with ASM Securityholders overwhelmingly voting in favor of the transaction at the Scheme Meetings held in Perth, Australia on August 12. As previously announced, Energy Fuels entered into a Scheme Implementation Deed to acquire 100% of ASM through EFR Critical Materials, a wholly owned subsidiary of Energy Fuels, by way of schemes of arrangement under Australia's Corporations Act 2001. Under the Share Scheme, each ASM shareholder is entitled to receive 0.053 new Energy Fuels CHESS Depositary Interests plus A$0.13 cash for each ASM share held at the Scheme Record Date. Under the Option Scheme, ASM option holders are entitled to receive A$0.50 cash per option. At the Scheme Meetings held in Perth, Australia, ASM securityholders voted in favor of the transaction. 98.23% of the votes cast by ASM shareholders were in favor of the Share Scheme, and 83.62% of ASM shareholders present and voting voted in favor. ASM will apply to the Federal Court of Australia for approval of the Schemes, which is scheduled to occur on August 18. If the Court approves the Schemes, a copy of the Court order will be lodged with the Australian Securities and Investments Commission and the Schemes will become effective, which is expected to occur on August 19. ASM Securities are expected to be suspended from trading on the ASX from the close of trading on the Effective Date. Implementation of the Schemes, on which the Scheme Consideration will be provided to ASM securityholders, is expected to occur on August 28. The acquisition of ASM would add commercial-scale rare earth metals and alloys capability, through ASM's Korean Metals Plant, and a planned American Metals Plant, to Energy Fuels' rare earth oxide production at its White Mesa Mill in Utah. Together with ASM's Dubbo Project in New South Wales and the Donald Project in Victoria, which Energy Fuels is developing in a joint venture with Astron, the transaction is intended to advance an integrated Western supply chain spanning mining, processing, separation, metals and alloys. Separately, and subject to its own conditions, Energy Fuels has agreed to acquire the permanent magnet manufacturer Vacuumschmelze, which, if completed, would extend the platform through to magnet production. Completion of the VAC acquisition, which, subject to regulatory approvals and certain other conditions, is expected to occur in early 2027, is not a condition to the ASM schemes.