12 Best Canadian Penny Stocks to Buy According to Analysts

10. Uranium Royalty Corp. (NASDAQ:UROY)  

Upside Potential: 135.74%  

Stock Price as of January 5: $2.35  

Number of Hedge Fund Holders: 7  

Uranium Royalty Corp. (NASDAQ:UROY) is a Canadian-based company that specializes in acquiring and holding royalties on uranium properties, as well as investing in physical uranium. The company is known as the only pure-play uranium royalty company.

Uranium Royalty Corp. (NASDAQ:UROY) has a vast portfolio of royalties on projects in various stages of development, and while these assets may not generate revenue in the short term, they have significant potential for long-term growth. By investing in these projects and working with the operators to bring them into production, Uranium Royalty Corp. (NASDAQ:UROY) aims to create a pipeline of future revenue streams and increase its exposure to the growing demand for uranium. Uranium Royalty Corp. (NASDAQ:UROY) also has a significant interest in producing mines, such as the Cigar Lake Mine, where the company owns a sliding-scale net profit interest royalty.

Uranium Royalty Corp. (NASDAQ: UROY) recently acquired an existing royalty on the Millennium and Cree Extension Uranium Projects in Saskatchewan, Canada, from a third-party industrial gas company for $6 million. The acquired royalty is a 10% net profit interest (NPI) on an approximate 20.6955% participating interest in the projects, which are operated by Cameco Corporation Inc. The Millennium Project is an advanced-stage, conventional uranium project with estimated resources of 75.9 million pounds U3O8 in the indicated category and 29.0 million pounds U3O8 in the inferred category, making it one of the largest undeveloped uranium projects globally.