Why Uranium Energy Corp Stock Popped 12.5% Today
Shares of uranium mining concern Uranium Energy Corp (NYSEMKT: UEC) are climbing in the hours following its filing of a 10-Q report on fiscal first-quarter 2021 "earnings" this morning. I'm using the term loosely, however, because Uranium Energy didn't actually earn anything...and to be perfectly honest, I'm not really sure why its shares are going up today.
According to Yahoo! Finance, analysts were expecting Uranium Energy to report about a $0.02 per-share loss for Q1, but in fact, the 10-Q filing shows that Uranium Energy lost $0.03 per share. Losses were a given as Uranium Energy had no revenues whatsoever during the quarter. (The last time it did have revenues was in 2015.)
On the plus side, net losses declined 3% in comparison to last year's fiscal Q1 results. It's also good to see that cash burn decreased significantly from $4.7 million a year ago to just $2.6 million this past quarter.
Source Fool.com
