Uranium Energy: Investors Are Still Waiting For Production Start

JacobH I last covered Uranium Energy Corp. (NYSE: UEC ) in May, assigning the stock a Sell rating. My thesis revolved around the fact that the company does not produce any uranium and has been relying on the sale of existing inventory for almost all of its revenue. If a picture is worth 1000 words, then the thesis of that article can be summarized by the following screenshot. UEC Q2 3 & 6 Month Revenue Numbers (UEC Form 10-Q Filing) However, since then the stock has been on quite a tear as it rides the wave of a rapidly developing new uranium upcycle. My portfolio, obviously, did not benefit from UEC’s price run, but I do have plenty of uranium exposure through positions in Denison Mines ( DNN ) and Cameco ( CCJ ), the latter of which actually produces uranium and a lot of it.

For UEC, Q3 was […]

About the author: StockMan

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