12 Stocks Under $10 With High Upside Potential

7. Uranium Energy Corp. (NYSE:UEC)

Share Price: $5.25

No. of Hedge Fund Holders: 34

Analyst Upside Potential: 95.24%

Uranium Energy Corp. (NYSE:UEC) is a uranium mining and exploration company with operations focused on in-situ recovery (ISR) technology. The company operations include exploration, pre-extraction, extraction, and processing at projects in the United States, Canada, and the Republic of Paraguay. Uranium Energy is expanding its extraction activities and aims to become a leading low-cost uranium supplier in North America.

Uranium Energy Corp. (NYSE:UEC) faces a potential threat from the U.S. tariffs on Canada. The company holds various uranium projects in both the U.S. and Canada. This makes the company vulnerable to lower demand as a result of the growing trade war between the two economies. Canada currently accounts for 27% of the total uranium supply to the U.S., as per the US Energy Information Administration.

However, the company is swiftly expanding its operations amid the growing demand for electricity generation, a global push towards decarbonizing electrical grids, and various geopolitical factors. Moreover, the acquisition of Rio Tinto’s Wyoming assets has strengthened the company, boosting its production capabilities in Wyoming’s Great Divide Basin. It has also made UEC the largest licensed production capacity in the U.S., with the assets collectively holding over 175 million pounds of historic resources.