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Saturday, December 3, 2022

A Look at Uranium Energy Corp. (NYSEMKT:UEC)

Uranium Energy Corp. (NYSEMKT:UEC) is moving up steadily after a recent test near support at $1. The stock recently saw highs of $2 per share but has fallen significantly since then.

UEC recent move up marks a significant reversal for UEC which was in a downtrend since it was $7 a share back in 2011 when Uranium saw highs of $65 a pound. As Uranium heats up again UEC is moving and looks like it’s about to make a run on previous highs; a break over $2 and this one is wide open.

Uranium Energy Corp. (NYSEMKT:UEC) is a U.S.-based uranium mining and exploration company. UEC fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, including the operating Palangana in-situ recovery mine and the Goliad in-situ recovery project which is currently in construction.

UEC has been making acquisitions in high Uranium producing areas such as Texas Wyoming, New Mexico, Arizona and Colorado. The Company has developed a unique form of mining called In-Situ Recovery or “ISR” during which fluid is injected into the ore and the solution is extracted for processing. Ultimately reducing overhead costs and minimizing wasted ore.

Company CEO is Amir Adnani and he has taken the Company from conception to production in very little time. UEC is also a low cost producer of Uranium coming in at around $16 per pound putting the Company in a potentially spectacular situation once Uranium goes back towards its highs over $65 a pound. The Company’s plants are capable of producing more than 2 million pounds of uranium annually.

After the Tsunami in Japan led to the Fukushima nuclear disasters, the market for Uranium collapsed falling well below the $30 per pound mark. Investors without much foresight gave up on Uranium and it dropped well over 50% off its $65 highs.

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Currently near its lows the spot price of Uranium is rising dramatically. Wall street is waking up and realizing that Uranium might just be the hottest ticket in town; the demand for electricity is exploding globally and with a shrinking supply of fossil fuels Governments will turn to Nuclear Energy and the demand for Uranium will explode.

UEC announced on November 20 that it has entered into an agreement to acquire a proprietary Uranium Project Database from Vico Uranium Corp. (“Vico”), a private British Columbia corporation. The database, which was developed and maintained over the last ten years, contains detailed information on over 1,000 uranium projects globally. Uranium Standard plans to utilize this database to execute its strategy of acquiring a substantial portfolio of high-quality uranium resources at deeply discounted valuations.

Globally there are 70 new nuclear reactors currently under construction all of which 29 are being built in China, 6 in India, and more than 9 in other Asian countries.

The recent catalyst for the run on Uranium was caused by H.C. Wainwright analyst Jeffrey Wright call that uranium spot prices could rise above $50/lb. over the next 12 months and the recent announcement by the Japanese Government that it will restart of the two-reactor Sendai nuclear plant operated by Kyushu Electric.

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UEC has been upward bound after some recent consolidation around 1.75. As Uranium heats up again UEC is moving and looks like it’s about to make a run on previous highs; a break over $2 and this one is wide open. The short position is facing an ugly situation as Uranium spot prices continue to rise sharply sending producers such as UEC up.

As the demand for electricity explodes globally, coupled with a shrinking supply of fossil fuels common sense tells you Governments will turn to Nuclear Reactors and send the price of Uranium skyward. As the market for Uranium explodes globally and it’s going to UEC is one Uranium stock that should be on every investors watch lists. The stock is seriously depressed after 3 years of steady downward pressure decimated the share price. Current buyers are buying the stock at a steep discount and with Uranium still under $40 a pound there is plenty of room for growth.

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Disclosure: we hold no position in UEC either long or short and we have not been compensated for this article.

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