Uranium Energy Corp. (UEC) has gained 68.6% over the past month to close yesterday’s trading session at $5.21 due to increasing uranium prices as the global interest in nuclear energy rises amid the Russia-Ukraine war. In addition, it is currently trading 10% below its 52-week high of $5.79, which it hit on November 12, 2021.
UEC recently announced that it had repaid the remaining $10 million balance of its secured credit facility and is now wholly debt-free with $125 million in cash and liquid assets. It also recently acquired the world's fourth-largest uranium producer, Uranium One, for $112 million in cash. This gives the company access to several new projects. However, it hasn't generated any revenue since 2015. So, UEC’s near-term prospects look bleak.
