#3 - Energy Fuels Inc. (NYSE:UUUU)
Colorado-based Energy Fuels Inc. (NYSE: UUUU) is the first mining stock on this list of nuclear energy stocks to buy. Although it’s been mostly flat since April 2024, the spot price of uranium is up approximately 54% in the year ending July 8, 2024. And to keep up with the demand for nuclear reactors, uranium prices will eventually head higher.
That makes this a good time to consider Energy Fuels. The company claims it has the only conventional uranium mill operating in the United States. Energy Fuels expects to more than triple its output of U3O8 in 2024 and increase production further next year.
Based on this, the company’s revenue shot higher in its most recent quarter. Plus, it managed its first profitable quarter. That trend is expected to continue, and the Energy Fuels analyst forecasts on MarketBeat give the stock a Moderate Buy rating with an $8.67 price target that provides a 46.4% upside.
About Energy Fuels
Energy Fuels Inc, together with its subsidiaries, engages in the extraction, recovery, recycling, exploration, permitting, evaluation, and sale of uranium mineral properties in the United States. The company produces and sells vanadium pentoxide, rare earth elements, and heavy mineral sands, such as ilmenite, rutile, zircon, and monazite.
Read More - Current Price
- $6.32
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 2 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $8.50 (34.5% Upside)
