12 Best Uranium Stocks to Invest in According to Analysts

2. enCore Energy Corp. (NASDAQ:EU)

Number of Hedge Fund Holders: 9

Average Upside Potential: 191.38%

enCore Energy Corp. (NASDAQ:EU) is a uranium company based in Corpus Christi, Texas. It focuses on exploring, developing, and extracting uranium across several states, with uranium properties in Texas, Wyoming, South Dakota, and New Mexico. EU has an average upside potential of 191% as of April 19, making it one of the best uranium stocks.

On March 18, H.C. Wainwright assigned a Buy rating to enCore Energy Corp. (NASDAQ:EU) but trimmed the price target from $7 to $2.75. enCore’s revenue more than doubled in 2024, reaching $58.3 million, up from $22.1 million in 2023, due to selling more uranium at higher prices. Still, the company reported a net loss of $68 million. Despite the loss, analysts are hopeful that production efficiencies, especially at the Alta Mesa project, could help turn things around this year.

enCore Energy Corp. (NASDAQ:EU) sold many of its New Mexico uranium projects to Verdera Energy on April 9. In exchange, enCore received 50 million preferred shares, giving it around 73% ownership in Verdera, and $350,000 in cash and a 2% royalty on any future uranium or mineral production from those sites. The deal also includes plans for Verdera to go public, after which enCore will distribute 35 million of those shares to its own shareholders.

According to Insider Monkey’s fourth quarter database, 9 hedge funds were long enCore Energy Corp. (NASDAQ:EU), compared to 12 funds in the last quarter.