#6 - Uranium Energy (NYSEAMERICAN:UEC)
For investors looking for low-priced alternatives in renewable energy, Uranium Energy Corp. (NYSEAMERICAN: UEC) is an attractive possibility. As the world looks for clean energy sources, nuclear energy is generating renewed interest. That means demand for uranium will be on the rise, and that’s the case for Uranium Energy.
In June and June, and July of 2023, the company announced it completed a restart program at its Christensen Ranch ISR Project in Wyoming. It also advanced the development of two projects in South Texas. The company says it will begin producing uranium if the commodity price hits $60. As of this writing, the spot price of uranium is around $56.
UEC stock is not cheap by conventional metrics. And with the company’s revenue and earnings so heavily tied to the price of uranium, the risk is clear. But so is the reward. And according to the Uranium Energy analyst ratings on MarketBeat, UEC stock has a Buy rating with a 125% upside from its current price of $3.21.
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
- $7.08
- Consensus Rating
- Buy
- Ratings Breakdown
- 3 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $11.42 (61.3% Upside)
