Will These Uranium Stocks Make Your Watchlist This Month?
There are many types of mining stocks that are performing well in the market. When most think of mining stocks, they will gravitate towards gold or silver assets. But there is one type of mining stock that is performing extremely well in the market right now. Of course, we are talking about the current performance of uranium stocks. There are a few reasons that uranium stocks are skyrocketing upwards in the market.
Uranium stocks are an industry that has been impacted by COVID-19. COVID caused Uranium stocks to reach levels they had not seen since the 2011 Fukushima Daiichi nuclear disaster in Japan. But now, uranium stocks are being boosted by the popular subreddit WallStreetBets. Rising interest on this Reddit platform has caused many uranium stocks to go up rapidly in value. This has taken the Sprott Physical Uranium Trust, a Canadian Closed-End Fund to its highest levels since 2014.
But how do you choose which uranium stocks are the best to invest in? Maybe you found a uranium corporation you want to invest in but you don’t know much about the market. The best things to stay on top of are company-specific news, world news, and news in the sector. A uranium shortage or Reddit could cause an uptick in price for example. Let’s now look at three uranium stocks that are performing well in the market.
Top Uranium Stocks To Watch
NexGen Energy Ltd. (NYSE: NXE)
NexGen Energy Ltd. is a uranium stock that just went up a lot in the market. This is a uranium company that engages in the acquisition, exploration, and evaluation of uranium projects. NexGen’s projects include its main asset, the Rook I project. This project has 32 contiguous mineral claims that total over 35,065 hectares.
On July 26th, the company announced the commencement of its 2021 field and regional exploration drilling programs at its Rook I project. This project will host numerous electromagnetic conductors and structural corridors that are yet to be explored.
CEO Leigh Curyer said, “Recommencement of field activities incorporating regional exploration whilst simultaneously advancing the Rook I Project through final engineering and permitting is an exciting time for NexGen. The NexGen group has a tremendous track record of discovery and the geological team has been looking forward to recommencing exploration drilling on what they consider to be the most prospective land package globally.” NXE stock will often move up or down based on the price of uranium itself. Keeping this in mind, will NXE stock enter your watchlist this month?
Ur-Energy Inc. (NYSE: URG)
Ur-Energy Inc. is a uranium stock that just went up over 13.7% in the market today. This company acquires, explores, develops, and operates at uranium mineral properties. Currently, Ur-Energy has interests in 12 projects. These United States located projects include the Lost Creek project, which has 1800 unpatented mining claims.
In early August, the company released its second-quarter results for 2021. The company had cash resources consisting of cash and cash equivalents of $21.5 million. The company also received forgiveness of debt during the quarter. Ur-Energy’s finished and ready-to-sell conversion facility inventory value is immediately realizable if necessary too.
CEO and Chairman Jeff Klenda said, “We ended the period with more than $20 million in cash and 285,000 pounds U.S. produced U3O8 in inventory at the conversion facility. We continued to advance regulatory approvals at both our Lost Creek Property and Shirley Basin Project.” In the month since these results were released, URG stock has gone up a lot in the market. On September 10th, URG’s volume is much higher than its average. So will this company make your list of mining stocks to watch??
Denison Mines Corp. (NYSE: DNN)
Denison Mines Corp. just increased in the market today. This is a uranium company that develops and produces at various locations. Its key project is the Wheeler River Uranium project located in the Athabasca Basin region in Saskatchewan. Denison currently holds a 95% interest in this project, and it has been very successful for the company so far.
On August 5th, the company reported its results from the second quarter of 2021. Denison received $5.8 million in connection with the conversion of Uranium Participation Corporation into the Sprott Physical Uranium Trust. The company also completed the acquisition of 50% of JCU Exploration Company Limited for $20.5 million during this time period.
President and CEO David Cates said, “The Company continues to successfully advance on its ambition of developing the high-grade Phoenix deposit, as potentially one of the lowest cost uranium mines in the world, at a time when the uranium market is showing signs of a sustained recovery and the beginnings of a new contracting cycle.” Since these results were released, DNN stock has gone up a lot in the market. Considering all of this information, is this uranium stock going to make your watchlist in September?
Top Uranium Stocks To Buy?
Deciding which uranium stocks to buy can sometimes be a confusing process. Right now it seems like a lot of the uranium momentum is coming from Reddit and WallStreetBets. This may be the place to look right now to do some research. So which uranium stocks will make your watchlist this week?
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