A growing number of countries are diversifying away from hydrocarbons, and nuclear power appears to be gaining in popularity as an alternative energy source. In 2020, nuclear energy generated 393 GW of electricity (net electrical) in the world, according to the International Atomic Energy Agency. The capacity of global nuclear generating plants is expected to double by 2050 to 792 gigawatts in an optimistic scenario. While looking at this growth of Uranium investors have now started looking toward Uranium stocks in the stock market.
Uranium stocks are showing price action indicative of possible increases in nuclear power adoption. As a result, uranium demand would continue to grow steadily. During the past 12 months, uranium prices have firmed up relative to the previous year. Although uranium price is not likely to rally euphorically, it is likely to trend upwards for the foreseeable future. Uranium stocks are likely to benefit from this. Companies will benefit from higher prices of uranium as several exploration and production projects are in the works.
In this article Stocks Telegraph is presenting you the 5 Best Uranium Stocks to invest.
Denison Mines Corp. (DNN)
Denison Mines Corp. (DNN) stock closed last session at $1.21, decreasing 0.00% or $0.0. Shares of the company fluctuated between $1.19 and $1.23 throughout the day. The number of shares exchanged was 2.57 million, less than the company’s 50-day daily volume of 5.71 million and lower than its Year-to-date volume of 9.09 million. In the past 12 months, the company’s stock has retreated 11.01%, and in the last one week, the stock has moved up 4.31%. For the last six months, the stock has lost a total of -6.20%, and over the last three months, the stock has increased by 18.63%. The stock has returned -11.68% so far this year. Additionally, the stock is trading at a price-to-earnings ratio of 22.41.
Focusing on the company’s market volatility shows that it has a 1-Week Volatility index of 5.27%, and 5.54% for the month. This stock’s Average True Range (ATR) currently stands at 0.07, with the beta factor poised at 1.93. The indicator of Volatility helps exhibit the extent to which a stock is likely to plummet or climb when the rest of the market also dips or surges. If a stock has a beta score above 1, then its rate of volatility is high. Figures lower than 1, therefore, means that the stock’s volatility at that moment is low.
Cameco Corporation (CCJ)
On Friday, shares in Cameco Corporation (CCJ) rise 0.47% to close the day at $25.46. The volume of shares traded was 3.28 million, which is lower than the average volume over the last three months of 5.86 million. During the trading session, the stock oscillated between $24.805 and $25.5106. The company had an earnings per share ratio of 0.12. CCJ’s stock has lost -1.20% of its value in the previous five sessions and 15.00% over the past one month but has gained 16.74% on year-to-date basis. The stock’s 50-day moving average of $23.50 is above the 200-day moving average of $24.19. Moreover, the stock is currently trading at RSI of 58.52.
According to a U.S. Securities and Exchange Commission filing, Global X Uranium ETF has reduced its position in Cameco Corporation (CCJ) to 13,560,529 shares, mirroring a recent drop by 0.00%. Global X Uranium ETF dumped 0.0 shares of Cameco Corporation common stock bringing its total worth to about $349.45 million at the end of recent close, SEC documents show. Global X Uranium ETF isn’t the only investment manager who changed stakes and is followed by T Rowe Price Mid Cap Value Fund, which sold off -2.43 million shares to end up with 8,911,633 shares worth $229.65 million. American Funds Capital World Grow cut their holdings by 0.00% in the company over the course of the most recent quarter. It now holds a 1.86% position in Cameco Corporation thanks to 7.4 million shares amounting to $190.7 million.
Uranium Energy Corp. (UEC)
Uranium Energy Corp. (UEC) stock gained 0.93% to close Friday’s session at $4.32. The stock volume remained 6.52 million shares, which was lower than the average daily volume of 10.36 million shares within the past 50 days. UEC shares have risen by 100.00% over the last 12 months, and they have moved up by 1.41% in the past week. Over the past three months, the stock has gained 40.26%, while over the past six months, it has shed 39.81%. Further, the company has a current market of $1.28 billion and its outstanding shares stood at 281.67 million.
Canaccord Genuity rated the Uranium Energy Corp. (AMEX: UEC) stock “a Speculative buy”. Canaccord Genuity’s estimates were contained in a research note released on Monday, June 13, 2022. Several other experts on Wall Street have posted such reports regarding the UEC shares. According to Canaccord Genuity, the stock is “a Hold,”. Canaccord Genuity published their figures in a research note released to investors on Friday, April 22, 2022. Other experts at Canaccord Genuity have the stock’s price target at $1.50 price; with their rating of the stock is “a Speculative buy.”. These scores were published in a research note the firm released on Wednesday, October 14, 2020.
BHP Group Limited (BHP)
The stock of BHP Group Limited (BHP) gained 0.74% to complete the last trading session at $55.76. The price range of the company’s shares was between $54.24 and $55.805. It traded 3.03 million shares, which was below its daily average of 3.51 million shares over 100 days. BHP’s shares have gained by 2.50% in the last five days, while they have added 15.59% in the last month. The company has a current dividend yield of 12.55%. Further, it is currently trading at a price to earnings ratio of 8.87 and a price to book ratio of 2.78. Additionally, the price to cash flow ratio stood at 8.97.
Taking a closer look at the price potential of the BHP stock, the company needs to record a growth of -3.98% before it can be able to drop past its median price target of $57.98. To determine the directional movement of the stock, its 50-day moving average is $56.05 while its 200-day moving average is $62.76. With liquidity very critical in the stock market, BHP has around 2.53B shares outstanding that normally trades 1.41 billion of its floats. The price of BHP recently witnessed a 5-day gain of 2.50% with 1.36 average true range (ATR). The stock now has a beta of 0.96 while its RSI stands at 58.29.
Ur-Energy Inc. (URG)
Ur-Energy Inc. (URG) stock subtracted -2.46% to finish last trading session at $1.19. The stock recorded a trading volume of 2.95 million shares, which is below the average daily trading volume published for the last 50 days of 1.96 million shares. The shares of Ur-Energy Inc. have advanced -0.83% in the last five days; however, they have gained 15.53% over the last one month. The stock price has surged 14.42% over the last three months and has gained 3.48 percent so far this year. Additionally, it has a price to sales ratio stands at 17006.59.
Ur-Energy Inc. (URG) has a 20-day trading average at $1.1620 and the current price is -44.65% off the 52-week high compared with 25.13% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.1530, and its 200-day simple moving average is $1.3844. If we look at the stock’s price movements over the week, volatility stands at 8.99%, which decreases to 7.16% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 53.57 to suggest the stock is neutral.
Ur-Energy Inc. engages in the acquisition, exploration, development, and operation of uranium mineral properties. The company holds interests in 12 projects located in the United States. Its flagship property is the Lost Creek project comprising a total of approximately 1,800 unpatented mining claims and three Wyoming mineral leases covering an area of approximately 48,000 acres located in the Great Divide Basin, Wyoming. The company was incorporated in 2004 and is headquartered in Littleton, Colorado.