10 Best Uranium Stocks to Invest in Now

8. Energy Fuels Inc. (NYSEAMERICAN:UUUU)

Number of Hedge Fund Holders: 11

Energy Fuels Inc. (NYSEAMERICAN:UUUU) is one of the largest producers of uranium in the United States. The company operates the White Mesa Mill in Utah, the only conventional uranium mill in the United States. The company believes that conventional mines allow greater flexibility to start, stop, or adjust at any stage of operations in mining, stockpiling, or processing without long-term commitments. Energy Fuels Inc. (NYSEAMERICAN:UUUU) also produces other high-value products, such as vanadium, rare earth elements, and heavy mineral sands.

Energy Fuels Inc. (NYSEAMERICAN:UUUU) is aggressively ramping up its uranium production to meet the increasing demand from the nuclear energy sector. The company currently operates three mines and planning to ramp up production to 2 million pounds of uranium per year from its existing mines. This expansion is driven by the strategic development of existing mines and the exploration of new projects. The company’s Pinyon Plain mine in Arizona, known for its high-grade uranium, is undergoing advanced development, and the company is also exploring the Juniper Zone in the mine for potential new deposits.

Furthermore, Energy Fuels Inc. (NYSEAMERICAN:UUUU) is actively developing a robust pipeline of projects including the Sheep Mountain project in Wyoming, which is fully permitted, and the Roca Honda project in New Mexico, another high-grade uranium deposit, which is advancing through the Draft Environmental Impact Statement (DEIS) process. Both projects have the potential to significantly increase the company’s production capacity, with the potential to reach up to 5 million to 6 million pounds of uranium annually.