Uranium Energy Corp. (UEC) has experienced strong growth in its stocks this week. As a result of reducing its debt, the UEC stock has expanded its market share and buy uranium. UEC shares rose 19.19% on Tuesday, closing at $3.23 per unit.
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Before the bankruptcy of the equipment manufacturer for Westinghouse nuclear power plants and the higher prospect of a temporary shortage of uranium fuel on the global market, there was concern regarding an increase in Uranium Energy quotations. Even though many nuclear power plants exist, Uranium Energy could still benefit from restricted nuclear fuel access.
Uranium Energy’s announcement would purchase raw materials for nuclear fuel for $ 10.9 million at a price below the production cost has given new life to the Uranium Energy Corp.’s stock prices. Today’s low prices allow the UEC stock to accumulate deposits, which can raise production power in future periods when prices rise.
As a result of the United States, creating its internal uranium reserve, the nuclear industry is expected to experience price increases in the future. Demand for uranium is driving the rise in quotations from companies – suppliers of uranium.
In addition to the debt reduction, Uranium Energy Corp. (UEC) enjoyed an increasing cash reserve of $ 65.8 million as of the end of March. This is sufficient to continue purchasing uranium.
Consequently, it’s expected that Uranium Energy will obtain a big boost due to the uranium shortage coming up shortly. Decommissioning nuclear power plants are much more costly than reactors’ construction, so closing them down will be much more costly.
Investors in Uranium Energy Corp. (UEC) need to think more long-term about the risks of rapid green energy development, which comes with several unique advantages. Primarily, the price of electricity will remain stable for years to come regardless of fuel price, including uranium. Many of the renewable energy challenges can be solved by large industrial batteries and powerful wind farms.