#4 - Uranium Energy (NYSEAMERICAN:UEC)
Uranium Energy Corp. (NYSEAMERICAN: UEC) makes this list of stocks to buy under $5 because of the key role it plays in the nuclear energy industry. With more attention being given to finding truly clean energy solutions, nuclear energy is drawing renewed interest. That will increase demand for uranium which would be bullish for mining stocks.
Investors are still waiting. As of September 2024, the spot price of uranium is down approximately 13% for the year. And since mining stocks lag behind the price of the underlying commodity, UEC stock is down 26% in 2024, but it’s up 5.2% in the 30 days ending September 11, 2024. Some of the interest is due to the successful restart of production at the company’s Christensen Ranch In-Situ Recovery (ISR) operations.
Short interest on UEC stock sits at around 11%. However, the Uranium Energy analyst forecasts on MarketBeat give the stock a $9.35 price target which would be an 82% gain in the next 12 months.
About Uranium Energy
Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.
Read More - Current Price
- $8.08
- Consensus Rating
- Buy
- Ratings Breakdown
- 4 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $10.50 (30.0% Upside)
