10 Firms Kick Off Monday Leading Gains

6. Uranium Energy Corp. (NYSEAMERICAN:UEC)

Uranium Energy rallied by 8.66 percent on Monday to close at $5.52 apiece as investors resorted to bargain-hunting following Friday’s drop.

Despite the rally, investor caution continues to linger on UEC amid the risks of the ongoing trade war between the US and Canada on its business.

UEC, one of the largest uranium producers with projects in both the United States and Canada, stands to be hurt by higher import prices and possible lower demand for uranium products as a result of the growing trade tensions between the two economies.

Albeit granting a lower 10-percent tariff on uranium products, investors resorted to sell-offs to minimize the risks of Trump’s frequent changes in US tariff policies.

Canada is currently the US’ largest uranium producer, delivering 27 percent of its total supply, followed by Australia and Kazakhstan with 22 percent of deliveries each, according to the US Energy Information Administration.

Late last month, a Canadian uranium miner and producer signaled that prices for US customers could rise by 10 percent if Trump’s tariff threats were to be implemented.