Why Uranium Energy Stock Has Rocketed 50% Since October

Uranium stocks have shot up in recent weeks, but one stock that's stood out is Uranium Energy (NYSEMKT: UEC). It rallied 22% in the month of October according to data provided by S&P Global Market Intelligence, and is already up just as much in November. With those gains, the small-cap uranium stock has jumped almost 83% since the start of September, as of this writing.

Before I tell you why Uranium Energy stock is on fire, it's important to explain the company's operations.

Uranium Energy is primarily a uranium mining and exploration company with one uranium mine and a uranium processing facility in Texas that is licensed to process up to 1 million pounds of uranium compound per year. Uranium Energy also claims to own mineral rights in Wyoming, Arizona, New Mexico, Colorado, and Paraguay.

Source Fool.com