Why Uranium Energy Stock Jumped 15% in March and Is Up Another 20% in April
Uranium Energy (NYSEMKT: UEC) stock has been on a tear in recent months, and it seems unstoppable. The uranium stock jumped 15% in the month of March, according to data from S&P Global Market Intelligence, and is already up another 19.6% so far this month. Macro and company-specific news combined to drive the rally in the hot stock.
Uranium Energy stock has been rising alongside uranium prices, but the stock shot up earlier this week after the company filed a technical report summary with the U.S. Securities and Exchange Commission (SEC) on April 4. The filing is important for two reasons: It confirms that the assets Uranium Energy acquired as part of its acquisition of Uranium One in December are material to the company's business and that the company has a valuable uranium resource. The Wyoming hub-and-spoke project has nearly 7 million pounds of inferred mineral resources and nearly 62 million pounds of measured and indicated mineral resources.
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Source Fool.com
