We recently published a list of 10 Firms Kick Off Monday Leading Gains. In this article, we are going to take a look at where Uranium Energy Corp. (NYSEAMERICAN:UEC) stands against other firms that kick off Monday leading gains.
The stock market kicked off the week’s trading on a positive note, with all main indices finishing in the green territory, as economies took a pause from their tariff war, while investors breathed a sigh of relief on the February retail sales report which didn’t come worse.
According to the latest figures, retail sales rose 0.2 percent, albeit below the 0.6 percent as expected by analysts. Excluding autos, sales are up by 0.3 percent, in line with economists’ expectations.
Following the news, the Dow Jones clocked in a 0.85-percent gain, followed by the S&P 500 with 0.64 percent, and the tech-heavy Nasdaq with 0.31 percent.
Meanwhile, 10 companies that led the rally posted modest gains as fresh company developments sparked investor buying. In this article, we have listed Monday’s 10 top performers and detailed the reasons behind their gains.
To come up with the list, we considered only the stocks with $2 billion market capitalization and $5 million in trading volume.
A mining worker in a hard hat and coveralls hammering away at the uranium rich walls of the mine.
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.
Overall, UEC ranks 6th on our list of firms that kick off Monday leading gains. While we acknowledge the potential of UEC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as UEC but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.