14 Best American Energy Stocks To Buy According to Analysts

11. Energy Fuels Inc. (NYSE:UUUU)

Number of Hedge Fund Investors  in Q1 2024: 8

Average Analyst Share Price Target Upside: 58.17%

Average Analyst Share Price Target: $8.81

Energy Fuels Inc. (NYSE:UUUU) is one of four uranium stocks on our list, indicating the strong sentiment among analysts for the sector. It is a mining company that extracts uranium and sells it in the market. Since it’s a mining firm, the stock is dependent on factors such as the legal environment of the areas with its mining properties, the amount of resources at Energy Fuels Inc. (NYSE:UUUU)’s disposal, the uptime of its mining facilities, the price that Energy Fuels Inc. (NYSE:UUUU) can fetch for its products, and the overall efficiency of equipment. Additionally, the firm is also a producer of rare earth metals, which could benefit it quite a lot in case the trade tensions between the US and China further deteriorate and lead to Chinese export restrictions. Energy Fuels Inc. (NYSE:UUUU) also claims to have access to 70 million pounds of uranium and the potential to produce six million pounds annually – which could provide it with a wide moat in case the interest in nuclear energy further grows in America.

Energy Fuels Inc. (NYSE:UUUU)’s management is quite optimistic about its unique business model which combines uranium and rare earth metals. During the Q4 2023 earnings call, it shared:

“Yes, I’d just like to thank those of you that have joined the call. I hate to use the word extraordinary too many times, but we really are on a focused path, for a long-term critical mineral hub. There really is no investment like Energy Fuels that can – on the back of uranium adding on the ability, to produce rare earths, for a very significant – world significant strategy, is our objective. Look at our balance sheet, look at the fact that we’re producing uranium now. We’ve got very good margins on our uranium sales, and cost. It is a very exciting time, and I cannot tell you, as I said at the beginning of the call, how excited I am, to present this story and just watch this vehicle, because we are focusing on building a company.

We are not promoters. If you want us to be promoters, we’re not going to be promoters, because we’re building a company, and we’re doing it step-by-step. So, thank you very much. And again, I look forward to further updates in due course during the year.”