Uranium miner Energy Fuels Inc (TSE:EFR, NYSE:UUUU) announced today it has been added as a member of the broad-market Russell 3000 Index.
Energy Fuels joined effective June 25, 2018 after the conclusion of the Russell U.S. Indexes annual reconstitution. The annual Russell U.S. Indexes reconstitution comprises the 4,000 largest US stocks as of May 11, 2018 and ranks them by total market capitalization.
"Energy Fuels is pleased to join the broad-market Russell 3000 Index, which we believe will further increase the company's visibility and exposure to key institutional investors," said Mark S. Chalmers, president and chief executive officer of Energy Fuels.
READ: Energy Fuels planning to resume vanadian recovery in Utah this year
"As a leading U.S. producer of uranium and vanadium, we have a number of significant, identifiable catalysts that have the potential to fuel further growth for the company, including our pending 232 petition on uranium, new sources of alternate feed materials, resuming vanadium production and securing contracts for land cleanup work."
Russell U.S. Indexes are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies, with approximately US$9 trillion in assets are benchmarked against Russell U.S. Indexes.
Membership in the Russell 3000 Index also means inclusion in the small-cap Russell 2000 Index, as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market capitalization rankings and style attributes.
Shares of Energy Fuels were down 2.91% at C$2.67 today.