Uranium Energy stock rises 11.2% as uranium prices show signs of recovery

Uranium Energy's stock rose 11.2% on January 2, 2025, following a 4% increase in uranium prices at the end of 2024. This marks a shift after a challenging year for uranium miners, including Uranium Energy, which saw stock losses in 2024. Uranium prices fell from over $105 per pound to around $70 during 2024, but the recent uptick to $73 may signal a potential trend reversal. The stock's performance contrasts with the broader market, which gained over 25% last year. In December, the U.S. Department of Energy awarded over $6 billion in contracts for uranium enrichment, supporting nuclear power projects backed by major tech companies. While Uranium Energy does not directly benefit from these contracts, increased investment in nuclear energy may positively impact its stock in the future.