Penny Stocks To Watch #1: Uranium Energy Corp.
Uranium Energy Corp. (UEC Stock Report) has experienced a solid quarter so far. At the start of July, UEC stock was trading around $0.86. This week it has reached highs of over $1.10 so far. Obviously, energy penny stocks and blue-chips, in general, have gotten more attention recently. Thanks to all of the global economic and geopolitical events, energy stocks have seen their share of volatility. Uranium Energy, specifically, is a uranium mining and exploration company.
It has operations in South Texas, Wyoming, Arizona, New Mexico, Paraguay, and Colorado. While there haven’t been many headlines, the most recent update came from results of the company’s general meeting. This included approving a stock incentive plan, its executive compensation plan, and electing or re-appointing officers and directors of the company.
The Trump administration, with encouragement from Republican U.S. Sen. John Barrasso of Wyoming, has been eager to come to the domestic uranium industry’s rescue. Also keep in mind that in February, the administration asked Congress for $1.5 billion over 10 years. This is to create a new national stockpile of U.S.-mined uranium. A reliable supply of uranium is critical to U.S. energy security, proponents say.