Why Uranium Energy Corp. (UEC) Skyrocketed On Tuesday

We recently published a list of 10 Stocks Leaving Wall Street in The Dust. In this article, we are going to take a look at where Uranium Energy Corp. (NYSEAmerican:UEC) stands against other Tuesday’s best performers.

Uranium Energy ended four straight days of losses on Tuesday, jumping 11.77 percent to finish at $6.36 apiece after earning positive ratings from two analysts.

In its market note, BMO Capital gave Uranium Energy Corp. (NYSEAmerican:UEC) an “outperform” rating with a price target of $7.75, representing a 21.8-percent upside from its last closing price.

A mining worker in a hard hat and coveralls hammering away at the uranium rich walls of the mine.

BMO Capital said Uranium Energy Corp.’s (NYSEAmerican:UEC) strategy of a low-capital “hub and spoke” model, which, coupled with a strong financial standing, offers both production flexibility and funding options.

Another investment firm, Stifel, maintained its “buy” recommendation on Uranium Energy Corp.’s (NYSEAmerican:UEC) stock with a price target of $10.50.

Stifel’s coverage followed Uranium Energy Corp.’s (NYSEAmerican:UEC) start of production at its Christensen Ranch project in Wyoming. Additionally, construction is on track at the Burke Hollow project, with the first production expected in 2025.

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Disclosure: None. This article is originally published at Insider Monkey.