Uranium Energy Corp. (NYSEAMERICAN:UEC) is making mild gains in the early session on Wednesday. The stock has been witnessing a nice uptrend since over the past 6 months with a jump of around 142%. Will the Rally continue?
Major Trigger:
Uranium Energy Corp Files Fiscal 2021 Q3 Quarterly Report
Key Highlights:
- For the three and nine months ended April 30, 2021, we recorded net losses of $4,590,161 ($0.02 per share) and $13,014,757 ($0.06 per share) and losses from operations of $4,863,141 and $11,773,329, respectively.
- For the three and nine months ended April 30, 2020, we recorded net losses of $3,273,644 ($0.02 per share) and $10,204,882 ($0.06 per share) and losses from operations of $3,158,511 and $10,873,387, respectively.
- During the three and nine months ended April 30, 2021, we continued with our strategic plan for reduced operations at our Palangana Mine to capture residual pounds of U3O8 only. As a result, no U3O8 extraction or processing costs were capitalized to inventories during the three months ended April 30, 2021.
- During the three months ended April 30, 2021, as part of the Initiative Program, we received 900,000 pounds of uranium inventory at a total cost of $26,193,818. As of April 30, 2021, the total value of inventories was $26,405,480 (July 31, 2020: $211,662).
- As at April 30, 2021, the Company held $123.4 million in cash, equity and physical holdings comprised of $47.9 million cash, uranium inventory holdings of $26.2 million and 14 million shares of Uranium Royalty Corp. with a market value of $49.3 million.
Market Reaction
As of 10:59, UEC stock jumped by 1.55% to $3.4 with more than 1.12 million shares traded hands, compared to its average volume of 6.73 million shares. The stock has moved within a range of $3.2350 – 3.3808 after opening the trade at $3.25.
