10 Best Nuclear Energy Stocks To Invest In Now

2. Energy Fuels Inc. (NYSEAMERICAN:UUUU)  

Upside Potential: 41.59%  

Energy Fuels Inc. (NYSEAMERICAN:UUUU) is a leading uranium mining company that provides nuclear fuel for power plants around the world. The company operates several uranium mines in Colorado, Utah, and Wyoming. Energy Fuels Inc. (NYSEAMERICAN:UUUU) also operates a milling facility that processes the uranium ore.

On October 31, Energy Fuels Inc. (NYSEAMERICAN:UUUU) reported its financial results for the quarter ended September 30. The company’s uranium sales generated $4 million in revenue, with a gross profit of $2.15 million and a gross margin of 54%. As of September 30, Energy Fuels Inc. (NYSEAMERICAN:UUUU) has a total of 1,040,000 pounds of U3O8 in inventory, including 235,000 pounds of finished U3O8 and 805,000 pounds of U3O8 in ore and raw materials. The increase in inventory resulted from production from the Pinyon Plain, La Sal, and Pandora mines, as well as additional alternate feed materials.

Energy Fuels Inc. (NYSEAMERICAN:UUUU) is expecting to ramp up production to 1.1 to 1.4 million pounds of U3O8 per year by late 2024 and expects to produce a total of 150,000 to 200,000 pounds of finished U3O8 during 2024, using from stockpiled feed materials and newly mined ore.

Mining continues at the Pinyon Plain mine, with mined ore being stockpiled at the mine site, containing approximately 180,000 pounds of U3O8 on September 30, 2024, which is expected to be processed at the Mill later in 2024 or in early 2025.

Energy Fuels Inc. (NYSEAMERICAN:UUUU) is also advancing its permitting and pre-development activities on its Roca Honda, Bullfrog, and Sheep Mountain uranium projects, which have the potential to expand the company’s uranium production to a run-rate of up to five million pounds of U3O8 per year in the coming years.