Uranium Energy Drops 17% After Reporting Q3 Loss

Shares of Uranium Energy Corp climbed 10.8% to $17.23 on Wednesday, after peaking at $17.34 earlier. The stock started the day at $15.55 and dipped to a low of $15.13, with roughly 9.4 million shares traded.

Uranium Energy Corp is a U.S.-based uranium mining and exploration company founded in 2003. Headquartered in Corpus Christi, Texas, UEC has become “America’s largest and fastest growing supplier of uranium” for nuclear energy prnewswire.com. The company’s business model focuses on low-cost in-situ recovery mining in the United States and high-grade conventional uranium projects in Canada prnewswire.com. This two-pronged approach lets UEC rapidly develop domestic uranium sources while also holding stakes in some of the world’s richest uranium districts.