If you´ve been following my Youtube channel you might already know that I am an uranium bull. Uranium price has doubled in the last 6 months and IMO will keep going UP as the demand for uranium is expected to continue rising faster than production.

I already own some uranium stocks such as Deep Yellow, Denison Mines, Anfield Energy, etc. and in this article I´ll be talking about a company I recently added to my watchlist:
Uranium Energy Corp – UEC – which is now the largest uranium producer in the United States.

In the last couple months UEC stock price doubled. It went from around $2.50 to $5 and it´s currently trading at $4.68.

IMO Uranium Energy Corp is going to do very well in the coming uranium bull market but I´m not buying yet because as I said I already own several positions in other uranium companies. So, I added UEC to my watchlist and I´ll surely buy if there´s another pullback in the market.

See Also: Paladin Energy Limited (PALAF) Stock Forecast

Earlier this year Uranium Energy Corp acquired Uranium One Americas, the world’s fourth-largest uranium producer and the largest US producer.

With this acquisition, UEC’s sector-leading US ISR production profile increased to 6.5 million pounds U3O8 per year. The company also holds 4.1 million pounds of uranium in its warehouses. This puts UEC in an unique position to provide reliable domestic supply to the U.S. Government.

In fact, UEC was the first U.S. company to be contracted by the government to supply the federal uranium reserve. The Department of Energy is buying around 18 million lbs. of uranium from UEC and the contract will be issued later this year.

As of Q1-2022, UEC is virtually debt-free. The company is strengthening its fundamentals and all indicators suggest that Uranium Energy Corp is preparing to invest heavily in its growth and expansion.

According to 5 Wall Street Analyst´s Ratings, UEC is a Strong Buy with an average price target of $6.2.