10 Best Mid-Cap Growth Stocks to Buy According to Analysts

5. Uranium Energy Corp. (NYSEAMERICAN:UEC)

Upside Potential: 56%

Number of Hedge Funds: 21

Uranium Energy Corp. (NYSEAMERICAN:UEC) is actively involved in uranium mining and related activities, which include exploration, pre-extraction, extraction, and processing at projects in the United States, Canada, and the Republic of Paraguay. The company’s strategy is to establish itself as a leading low-cost uranium supplier in North America by expanding its extraction activities.

Uranium Energy Corp. (NYSEAMERICAN:UEC) is strategically positioned to benefit amidst rising demand for electricity generation, a global push towards decarbonizing electrical grids, and various geopolitical factors. According to the company’s quarterly report from October, new electricity demand projections indicated data center demand growth ranging from 60 to 90 gigawatts (GW) between 2023 and 2030 (based on the report, “US Data Center Power Outlook”).

On December 6, 2024, Uranium Energy (NYSEAMERICAN:UEC) completed the acquisition of Rio Tinto’s Wyoming assets, which include the fully-licensed Sweetwater Plant and uranium mining properties such as the Red Desert and Green Mountain Projects. These assets collectively hold approximately 175 million pounds of historic resources. The acquisition, valued at around $175.4 million, was funded through available liquidity. This move significantly boosts the company’s production capabilities in Wyoming’s Great Divide Basin and gives the company the largest licensed production capacity in the U.S. As of October 2024, UEC had $350 million in cash and no debt on its balance sheet, a robust financial position that should help it accelerate its production growth plans in an increasingly tight uranium market.