Uranium Energy (UEC) Keeps On Hitting New Highs: Are You Considering To Buy?

The Uranium Energy Corp (NYSE: UEC) is clearly in the middle of a strong rally at this point and the upward move continued on Tuesday.

UEC shot up by as high as 19% that day and that took its gains for the past week to as big as 50%. In this situation, it is imperative for investors to perhaps take a closer look at the company. The company is involved in the uranium mining space.

However, the stock possibly rallied after a report claimed that the company had filed its earnings report for the quarter that ended on January 31, 2000, to the SEC. That being said, the more important thing to note is the fact that as of March 15, the company reported that it had a cash balance of as much as $65.8 million primarily due to a stock sale. The outstanding balance in the credit facility that services Uranium Energy had also been cut by 45% and that is another significant positive for the company.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.