10 Best Nuclear Energy Stocks To Invest In Now

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1. Uranium Energy Corp. (NYSEAMERICAN:UEC)  

Upside Potential: 41.84%

Uranium Energy Corp. (NYSEAMERICAN:UEC) is one of the largest and fastest-growing uranium mining and exploration companies, with operations focused on the United States. Uranium Energy Corp. (NYSEAMERICAN:UEC) is a debt-free company with a significant inventory of uranium.

On October 17, Uranium Energy Corp. (NYSEAMERICAN:UEC) announced a significant milestone in its growth strategy, receiving approval to increase the licensed production capacity at its Irigaray Central Processing Plant to 4 million pounds of U3O8 annually. The Irigaray Plant is a critical component of Uranium Energy Corp.’s (NYSEAMERICAN:UEC) hub-and-spoke production strategy in the Powder River Basin of Wyoming, supporting four of the company’s fully permitted uranium in-situ recovery (ISR) satellite projects in the area.

Earlier on September 23, Uranium Energy Corp. (NYSEAMERICAN:UEC) also announced that it has reached an agreement with Rio Tinto America Inc. to acquire 100% of Rio Tinto’s Wyoming assets. The acquisition includes the fully licensed Sweetwater Plant, which is a major uranium processing facility, as well as a portfolio of uranium mining projects that contain approximately 175 million pounds of resources.

With the acquisition of Rio Tinto’s Wyoming assets expected to close soon, Uranium Energy Corp. (NYSEAMERICAN:UEC) will have a combined licensed production capacity of 12.1 million pounds of U3O8 per year.

Uranium Energy Corp.’s (NYSEAMERICAN:UEC) growth strategy is well-timed, given the increasing demand for uranium from stable domestic sources. The company’s CEO, Amir Adnani, notes that big tech companies such as Amazon, Google, Microsoft, and Oracle are making significant financial commitments to nuclear energy to power their data centers, reflecting the realization that nuclear energy provides safe, highly reliable, economic, and clean energy. This trend is expected to drive up demand for uranium, and Uranium Energy Corp. (NYSEAMERICAN:UEC) is well-positioned to benefit from this trend.

While we acknowledge the potential of Uranium Energy Corp. (NYSEAMERICAN:UEC) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than UEC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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