Has anyone taken a look at UEC? I've been paper trading this stock for a few months and it has treated me fairly well. I'm new at investing and I don't really have the skill yet to really analyze it's potential.
They are getting a positive right up in the March issue of Business Week:
UEC: Uranium in Its Purest State
Uranium, the metallic element used mostly for research, nuclear fuels, and weapons, is on the rise, with its spot price up from $75 a pound in September to $93 in January. Adam Schatzker of RBC Capital Markets sees it at $110 a pound in 2008.
A pure play in uranium, he says, is Uranium Energy (UEC), which offers investors exposure to an overlooked commodity. UEC has acquired uranium properties in the Southwest, mainly Texas. Uranium mining is experiencing "a rebirth in the U.S.," says Schatzker, who expects the stock, now at 2.99 a share, to hit 4.50 in a year. He says UEC's Goliad Project in Southern Texas is expected to start production in 2010 and may ramp up to a yearly output of 1.4 million pounds. Westcliff Capital Management holds a 10.4% stake but says its policy is not to comment on stocks it owns.
Investment highlights of Uranium Energy Corp:
* 26 uranium projects in Texas, Wyoming, New Mexico, Arizona, Colorado, Utah - the uranium states - at various stages of exploration.
* Near-term ISR uranium development in South Texas, currently drilling with 7 rigs to delineate and expand resource; mine permitting in progress.
* Technical team with demonstrated record in the discovery, development and operations of ISR and conventional uranium mines in the USA and globally.
* Over 5 million feet of drill hole data in the company's uranium exploration database library.
* Data-driven property acquisition to continue in 2008.
I am thinking of establishing a position in UEC on a dip today. What do you think about this company?
