Top five uranium stocks to watch as mines reopen

Highlights

  • The stock of Uranium Royalty Corp. (NASDAQ: UROY) rose by 255.22% YTD.
  • The Uranium Energy Corp’s (AMEX: UEC) stock gained 72.78% YTD.
  • Denison Mines Corp’s (AMEX: DNN) revenue was CA$4.62 million in Q2, FY21.

The Uranium stocks gained attention from Wall Street investors in recent days after witnessing business growth over the past few months. The growth momentum is expected to continue in the coming quarters as the mining activities gain pace.

Uranium is mainly used in nuclear power plants and reactors used in naval ships and submarines to run them. But, in addition, it is also used in allied industries. Here we explore five uranium stocks that may benefit from the economic recovery.

Uranium Royalty Corp. (NASDAQ: UROY)


Uranium Royalty Corp. is a Canadian uranium company based in Vancouver. The company makes strategic investments in uranium projects.

The stock traded at US$3.8001 at 1:00 pm ET on September 24, down 8.43 percent from its closing price of September 23. Its stock value increased by 255.22 percent YTD.

The firm has a market cap of US$317.36 million and a forward P/E one year of -141.67. Its EPS is US$-0.02.

The highest and lowest stock prices for the last 52-week were US$5.60 and US$2.25, respectively. Its trading volume was 1,447,522 on September 23.

The company reported an operating loss of CA$1.39 million for the quarter ended July 31, 2021, compared to CA$272.26 thousand in the year-ago quarter.

Its net loss for the period came in at CA$1.06 million, compared to CA$382.26 thousand in the same quarter of the prior year.

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Uranium stocks to watch as mining activities gain pace.

Source: pixabay

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Uranium Energy Corp. (AMEX: UEC)


Uranium Energy is a Texas-based uranium company that engages in the mining and exploration of uranium. The stock was priced at US$2.8722 at 1:12 pm ET on September 24, down 7.65 percent from its previous closing price. The UEC stock rose 72.78 percent YTD.

The market cap of the company is US$678.75 million, and the forward P/E one year is -38.88. Its EPS is US$-0.09. The highest and lowest stock prices for the last 52 weeks were US$3.77 and US$0.82, respectively. Its share volume on September 23 was 6,247,432.

The company's loss from operations was US$4.86 million in Q3, FY21, compared to a loss of US$3.15 million in the same quarter of the previous year. In addition, it reported a net loss of US$4.59 million, compared to a loss of US$3.27 million in Q3, FY20.

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Cameco Corporation (NYSE: CCJ)


Cameco is one of the world’s leading uranium companies based in Saskatoon, Canada.

The shares traded at US$19.99 at 1:18 pm ET on September 24, down 6.11 percent from its closing price of September 23. Its stock value jumped 59 percent YTD. The firm has a market cap of US$7.99 billion and a forward P/E one year of -91.35. Its EPS is US$-0.04.

The highest and lowest stock prices for the last 52 weeks were US$26.57 and US$9.01, respectively. Its trading volume was 7,897,190 on September 23.

The company's revenue was US$359 million in Q2, FY21, compared to US$525 million in the year-ago quarter. Its net losses attributable to equity holders were US$37 million, compared to a loss of US$53 million in Q2, FY20.

Lightbridge Corporation (NASDAQ: LTBR)


Lightbride is a Massachusetts-based nuclear fuel technology company that has interests in the uranium business. The stock was priced at US$5.07 at 1:24 pm ET on September 24, down 1.74 percent from its previous closing price. The LTBR stock grew 24.04 percent YTD.

The market cap of the company is US$33.71 million, and its EPS is US$-2.77.

The highest and lowest stock prices for the last 52 weeks were US$10.73 and US$2.44, respectively. Its share volume on September 23 was 75,252.

The company reported an operating loss of US$1.61 million in Q2, FY21, compared to a loss of US$2.14 million in the previous year's second quarter. It reported a net loss of US$1.61 million, compared to a loss of US$2.13 million in Q2, FY20.

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Uranium stocks are attracting investors’ focus

Source: pixabay


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Denison Mines Corp (AMEX: DNN)


Denison is a Toronto, Canada-based uranium company interested in the exploration, development, and production of uranium.

The shares of the company traded at US$1.33 at 1:30 pm ET on September 24, down 8.28 percent from its closing price of September 23. The firm has a market cap of US$1.05 billion and a forward P/E one year of -68.50. Its EPS is US$-0.02.

The highest and lowest stock prices for the last 52 weeks were US$1.80 and US$0.30, respectively. Its trading volume was 18,252,040 on September 23.

The company's revenue was CA$4.62 million in Q2, FY21, compared to CA$2.92 million in the year-ago quarter. It reported a net loss of CA$2.35 million, compared to CA$1.04 million in Q2, FY20.

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Bottomline


The global energy markets have been volatile for various geopolitical and pandemic-related disruptions. In addition, the focus on clean energy over climate concerns is pushing energy companies to go carbon neutral. As a result, many companies are pumping in funds and other resources to stay relevant to the changes in the energy market. However, investors should evaluate the companies thoroughly before investing in stocks.

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