Uranium Energy Corp. (AMEX:UEC) shares are trading lower on Wednesday after the company reported weak third-quarter earnings on Tuesday.

Earnings Highlights

Uranium Energy reported a loss of 11 cents per share, down from a loss of 7 cents per share year-over-year.

During the quarter, 32,195 pounds of uranium concentrate were produced at a total cost of $54.61 per pound, up from $44.14 in the prior quarter, primarily due to the timing of regulatory approvals for new header houses and an increase in state taxes.

Uranium Energy reported that its long-term all-in sustaining cost since commissioning stands at $39.30 per pound, including a cash cost of $32.40, reflecting improving unit economics as production scales.

Uranium Energy ended the quarter with $794 million in liquid assets, including $488 million in cash, and no debt.

Projects Update

The company commenced production at Burke Hollow in South Texas — America's largest greenfield in-situ recovery uranium project to enter production in more than a decade.

In the Ludeman project, the company completed a 240-hole delineation drilling program. The company advances engineering work for its next planned ISR uranium asset in Wyoming, including ion exchange plant design and procurement planning.

At the Roughrider project in Saskatchewan, more than 80% of a 35,000-meter drilling program has been completed to support an upcoming pre-feasibility study, further advancing a high-grade conventional uranium asset.

In the Sweetwater project, UEC completed a 200-hole delineation drilling program for planned well fields and initiated a second drilling phase.

The company also progressed its U.S. Uranium Refining and Conversion Corporation (URNC) initiative, achieving a key NRC licensing milestone, expanding DOE-aligned site options, and advancing engineering work to build domestic uranium conversion capacity.

Guidance

Looking ahead, the company expects production to rise in the fourth fiscal quarter as additional header houses come online, with five currently under construction and one already completed pending regulatory approval.

UEC Price Action: Uranium Energy shares were down 1.41% at $10.50 during premarket trading on Wednesday, according to Benzinga Pro data.

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