There is a growing demand for alternative fuels that are cleaner than conventional fuels. In addition to being one of the world’s most abundant metals, uranium is also increasingly being used as a power source. Since uranium is less radioactive once it has been depleted for energy use, once it has been depleted for energy use, it can be used for other applications.
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In 2020, the government of the United States started to invest heavily in the mining of uranium, which contributed to a rise in stock prices that followed. As a result of uranium fueling nuclear power, the United States consumes approximately 20% of its energy and 10% of its electricity as a result of nuclear power.
Uranium stocks are showing price action indicative of possible increases in nuclear power adoption. As a result, uranium demand would continue to grow steadily. During the past 12 months, uranium prices have firmed up relative to the previous year. Although uranium price is not likely to rally euphorically, it is likely to trend upwards for the foreseeable future. Uranium stocks are likely to benefit from this. Companies will benefit from higher prices of uranium as several exploration and production projects are in the works.
In this article, Stocks Telegraph is presenting you with the 5 Best Uranium Stocks to invest in.
BHP Group Limited (BHP)
BHP Group Limited (BHP) stock closed last session at $58.88, decreasing -1.75% or -$1.05. Shares of the company fluctuated between $58.77 and $60.81 throughout the day. The number of shares exchanged was 3.34 million, greater than the company’s 50-day daily volume of 3.26 million and lower than its Year-to-date volume of 4.43 million. In the past 12 months, the company’s stock has retreated 1.84%, and in the last week, the stock has moved up 3.75%. For the last six months, the stock has lost a total of -1.54%, and over the last three months, the stock has decreased by -3.49%. The stock has returned 9.40% so far this year. Additionally, the stock is trading at a price-to-earnings ratio of 7.37.
Volatility is just a proportion of the anticipated day-by-day value extend—the range where an informal investor works. Greater instability implies a more noteworthy benefit or misfortune. After an ongoing check, BHP Group Limited’s (NYSE: BHP) stock is found to be 2.21% volatile for the week, while 2.01% volatility is recorded for the month. The outstanding shares have been calculated at 2.53B. Based on a recent bid, its distance from 20 days simple moving average is 5.65%, and its distance from 50 days simple moving average is 7.75% while it has a distance of 1.71% from the 200 days simple moving average.
Cameco Corporation (CCJ)
On Friday, shares in Cameco Corporation (CCJ) fell by -2.17% to close the day at $26.66. The volume of shares traded was 4.75 million, which is lower than the average volume over the last three months of 5.73 million. During the trading session, the stock oscillated between $26.31 and $27.32. The company had an earnings per share ratio of 0.12. CCJ’s stock has gained 18.28% of its value in the previous five sessions and 4.39% over the past month but has gained 22.24% on a year-to-date basis. The stock’s 50-day moving average of $23.50 is above the 200-day moving average of $24.12. Moreover, the stock is currently trading at an RSI of 59.95.
Cameco Corporation (CCJ) has a 20-day trading average of $25.09 and the current price is -17.94% off the 52-week high compared with a 56.92% distance from its 52-week low. The 50-day simple moving average of the closing price is $23.50 and its 200-day simple moving average is $24.12. If we look at the stock’s price movements over the week, volatility stands at 5.36%, which decreases to 4.52% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 59.95 to suggest the stock is neutral.
Denison Mines Corp. (DNN)
On Friday, shares in Denison Mines Corp. (DNN) fell by -3.97% to close the day at $1.21. The volume of shares traded was 6.15 million, which is higher than the average volume over the last three months of 5.85 million. During the trading session, the stock oscillated between $1.18 and $1.27. The company had an earnings per share ratio of 0.05. DNN’s stock has gained 15.24% of its value in the previous five sessions and -1.63% over the past month but has lost -11.68% on a year-to-date basis. The stock’s 50-day moving average of $1.1039 is above the 200-day moving average of $1.3422. Moreover, the stock is currently trading at an RSI of 54.71.
According to a U.S. Securities and Exchange Commission filing, Global X Uranium ETF has reduced its position in Denison Mines Corp. (DNN) to 40,562,773 shares, mirroring a recent drop by 0.00%. Global X Uranium ETF dumped 0.0 shares of Denison Mines Corp. common stock bringing its total worth to about $48.27 million at the end of a recent close, SEC documents show. Global X Uranium ETF isn’t the only investment manager that changed stakes and is followed by Sprott Uranium Miners ETF, which sold off 0.0 shares to end up with 30,793,016 shares worth $36.64 million. Hood River Small-Cap Growth Fund raise their holdings by 7.66% in the company over the course of the most recent quarter. It now holds a 1.00% position in Denison Mines Corp. thanks to 8.18 million shares amounting to $9.74 million.
Clear Channel Outdoor Holdings Inc. (CCO)
Clear Channel Outdoor Holdings Inc. (CCO) stock lost -3.95% to close Friday’s session at $1.70. The stock volume remained at 1.77 million shares, which was lower than the average daily volume of 2.79 million shares within the past 50 days. CCO shares have fallen by -26.09% over the last 12 months, and they have moved down by -5.56% in the past week. Over the past three months, the stock has gained 8.28%, while over the past six months, it has shed -54.30%. Further, the company has a current market of $842.79 million and its outstanding shares stood at 475.12 million.
With this outlook, analysts have a consensus recommendation rating of 2.70 for the stock. Wells Fargo issued a stock update for Clear Channel Outdoor Holdings Inc. (CCO) on July 08, 2022, in which the firm assigned an “Equal-Weight” rating. Barrington Research on November 11, 2021, rated the stock as “an Outperform,”. Although bearish, it is notable that the stock is well above its 200-day simple moving average by -34.41%, while it is 22.21% above and 1.80% above its SMA50 and SMA20 respectively. The volume of shares traded in the last session stands at 1.77 million against a 3-month average of 2.69M.
Energy Fuels Inc. (UUUU)
The stock of Energy Fuels Inc. (UUUU) lost -3.96% to complete the last trading session at $7.04. The price range of the company’s shares was between $6.79 and $7.31. It traded 3.04 million shares, which was below its daily average of 3.73 million shares over 100 days. UUUU’s shares have gained by 19.12% in the last five days, while they have added 7.81% in the last month. Further, it is currently trading at a price-to-book ratio of 6.15.
HIGGS DENNIS LYLE, Director, of Energy Fuels Inc. (UUUU), sold 15,000 shares of Energy Fuels Inc. stock in an exchange that took place on Aug 25. The shares were sold at an average price of 9.33 each, amounting to a total Sale worth $139,953. As of the close of the Sale, Director now directly holds 269,837 shares of the organization’s stock, which is now worth about $1899652.48. The deal was disclosed in a Securities & Exchange Commission legal filing, which can be publicly viewed on the SEC website.