Uranium Energy Corp (NYSEAMERICAN:UEC) Stock Pulls Back After The Monster Rally

December 21, 2021December 21, 2021 Madison Hall NYSEAMERICAN:UEC, UEC, UEC news, UEC stock, Uranium Energy Corp stock (NYSEAMERICAN:UEC)

The uranium sector is now a point of focus for many investors due to the possibilities of a nuclear energy powered future and one of the stocks that could be tracked at this point is that of Uranium Energy Corp (NYSEAMERICAN:UEC).

Market Stats

On Monday, UEC stock moved up 1.22% to $3.32 with more than 6.68 million shares, compared to its average volume of 8.41 million shares. The stock has moved within a range of $3.1100 – 3.3200 after opening trading at $3.16.

Completes Acquisition of Uranium One Americas

Over the course of the past month, the stock has performed poorly and has recorded a decline of 19%. However, at the same time, it cannot be discounted that the Uranium Energy Corp stock has been one of the best performers this year and is still up by as much as 85% so far in 2021.

Yesterday the company was in the news again after it announced that it had completed the transactions that had been contemplated in the definitive share purchase agreement that it had signed with the company Uranium One Investments Inc, which is one of its subsidiaries.

As part of the transaction, the company also picked up all the outstanding shares in Uranium One Americas Inc. The transaction was completed through cash to the tune of $112 million and working capital of another $2.9 million. Another $19 million in the form of reclamation bonding was also thrown into the deal.

Key Quote

Amir Adnani, President and CEO, stated: “We are very pleased to have closed this highly accretive transaction for UEC. The Acquisition doubles our production capacity in three key categories: total number of permitted U.S. ISR projects, resources, and processing infrastructure. Also, the opportunity to have acquired an advanced asset base of this quality from one of the global leaders in the nuclear energy industry is highly unique.”

Traders Corner

UEC stock is trading above the 20-Day and 50-Day Moving averages of $3.66 and $4.01 respectively. The stock is trading in the neutral zone with RSI stands at 41.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.