1 'Strong Buy' Penny Stock That Could Surge 104%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 08 2024
0mins
Source: NASDAQ.COM
Nuclear Power and Uranium Demand: The global uranium market is projected to grow significantly, with demand expected to reach 209 million pounds by 2035, despite a declining supply. Kazatomprom has reduced its production target for 2025, adding pressure to the already tight market.
Ur-Energy's Market Position: Ur-Energy, a low-cost uranium producer, reported strong revenue growth and has a positive outlook following the U.S. ban on Russian nuclear fuel imports. Analysts are bullish on Ur-Energy stock, predicting a potential upside of over 100%.
Analyst Views on URG
Wall Street analysts forecast URG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for URG is 2.23 USD with a low forecast of 1.70 USD and a high forecast of 2.60 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
7 Buy
0 Hold
0 Sell
Strong Buy
Current: 1.930
Low
1.70
Averages
2.23
High
2.60
Current: 1.930
Low
1.70
Averages
2.23
High
2.60
About URG
Ur-Energy Inc. is a uranium mining company. The Company is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development and operation of uranium mineral properties in the United States. The Company has produced and packaged approximately 2.9 million pounds of U3O8 from Lost Creek. Its land portfolio in Wyoming includes 12 projects. 10 of these projects are in the Great Divide Basin (GDB), Wyoming, including its flagship project, Lost Creek Project. It controls nearly 1,800 unpatented mining claims and three State of Wyoming mineral leases for a total of approximately 35,400 acres at its Lost Creek Property, including the Lost Creek permit area (the Lost Creek Project or Lost Creek). Five of the projects at the Lost Creek Property contain reported mineral resources: Lost Creek, LC East, LC West, LC South and LC North. Its Wyoming properties together total approximately 48,000 acres and include its Shirley Basin Project.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
