#4 - Uranium Energy (NYSEAMERICAN:UEC)
One more commodity stock to consider when looking at stocks under $20 is Uranium Energy Corp. (NYSEAMERICAN: UEC). The uranium market has been on fire as interest in nuclear energy is rising. As the world seeks to transition away from fossil fuels, there are few sources of truly clean energy. Nuclear energy solves that, and uranium is an essential component.
UEC stock is up 137% in the last year, which can make some investors concerned about chasing the stock higher. However, the growth in this stock is being led by institutional investors who have piled approximately $350 million into the stock in the last two quarters. And with the Federal Reserve likely to lower interest rates at some point, those institutions will look for ways to hedge against a weaker dollar.
Analysts remain bullish on Uranium Energy, assigning the stock a consensus price target of $8.80, which is 28.8% higher than its price at the end of March. That would also put UEC stock at a new all-time high.
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)
