Energy Fuels (UUUU) stock plummeted 6.44% during intraday trading on Friday, marking a significant decline for the uranium and rare earth elements producer.

The sharp drop follows negative investor sentiment ahead of the company's fourth-quarter earnings report. Market expectations indicate Energy Fuels is projected to report a loss of 9 Canadian cents per share for the quarter, with an earnings conference call scheduled for later in the trading session.

Traders appeared to be positioning cautiously before the official earnings release and management commentary, which could provide further details about the company's financial performance and future outlook.