The company is primarily focused on uranium exploration at 12 properties in the state of Wyoming in the U.S. The properties contain National Instrument 43-101 compliant resources of 22 million pounds of uranium and around 3 million pounds in the inferred category. Additional potential for discovery exceeds 60 million pounds of uranium. Ur-Energy is seeking required authorization to mine uranium at the Lost Creek project. The company has two exploration projects in Canada's Thelon Basin: Screech Lake and Gravel Hill.
Analysts polled by Bloomberg give the stock 80% buy ratings and expect it to deliver an upside of 88% over the next one year. The stock is trading at 10.2 times its estimated 2012 earnings.