Why These Energy Stocks Are Gaining This Week

5. Uranium Royalty Corp. (NASDAQ:UROY)

Share Price Gains Between Sep 16 – July 23: 26.91%

Uranium Royalty Corp. (NASDAQ:UROY) is a pure-play uranium royalty company focused on gaining exposure to uranium prices by making strategic investments in uranium interests.

Uranium Royalty Corp. (NASDAQ:UROY) rose to a three-year high after uranium futures in the US soared to a 10-month high of over $80 per pound this week. The price hike comes after U.S. Energy Secretary Chris Wright signaled plans to increase the national strategic uranium stockpile and reduce reliance on imports from Russia.

Following the recent boost, Raymond James downgraded Uranium Royalty Corp. (NASDAQ:UROY) from ‘Outperform’ to ‘Market Perform’, but increased its price target from C$4.5 to C$5.