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 ...