Uranium Energy Corp. is a Texas-based uranium producer and exploration company. In 2015, it has recently hit new 52 week highs on news of a Japanese court ruling in favor of re-starting the nuclear reactors following the Fukushima tsunami disaster in 2011. Japan shut down 48 of its nuclear reactors in 2011 to conduct safety reviews. As a result, Japan has moved a step closer to restarting those reactors after a Kagoshima District Court rejected a petition filed by some residents near the plant in the City of Satsumasendai to delay the restart of two reactors even after safety regulators cleared them to resume operations. News of this nature will help drive this junior miner upwards.
UEC operates a producing mine and has several projects in late-stage exploration or early development stages. It was incorporated in 2003 in Texas. The Company is engaged in uranium mining and related activities, including exploration, pre-extraction, extraction and processing, on uranium projects located in the United States and Paraguay. The Company employs the new in-situ recovery mining methods in Palangana Mine with mining lease and surface-use agreements and right to explore, develop and mine for uranium there, and in the nearby Goliad Project, Burke Hollow Project, Longhorn Project, Salvo Project, Nichols Project, Channen Project, Anderson Project, Workman Creek Project, Los Cuatros Project, and Slick Rock Project.
UEC has a current market capitalization of 250.32 million dollars with 91.99 million outstanding shares. The company shares reached an intra-day high of 2.75 dollars before settling down at 2.58 dollars on a volume of 2.85 million shares traded, which far exceeds the approximate 1.3 million daily average volumes.
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