Does Uranium Energy Corp. Deserve a Place in Your Portfolio? By StockNews
Uranium Energy, a leading uranium miner and company (NYSE:), has seen its share prices rise over the last month. This is due to rising uranium costs and increased demand for uranium in nuclear power generation. However, given that a widening uranium demand-supply gap and pandemic-related disruption of mining activities could mar the industry’s prospects, will the stock be able to retain its momentum? Continue reading. mining and exploration company Uranium Energy Corp . UEC, Corpus Christi (Texas), is involved in the extraction, pre-extraction, and processing uranium throughout the United States. The company holds interests in multiple projects including the Palangana Mine in Texas and Slick Rock, Colorado. Alto Parana is a Paraguay titanium project.
UEC’s stock has gained 84.1% in price so far this year and 62% over the past month. This is due to uranium’s recent eight-year-high and increasing use of nuclear energy as a low carbon-emission option.
But UEC’s stock is currently trading 20.7% below its 52-week high of $3.77. It could also be difficult to keep up with the increasing demand due to COVID-19-related supply disruptions in uranium mining as well as issues related to processing activities. And the industry’s cyclical nature only makes matters worse. The stock could experience a decline due to this volatile environment.
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