NEW YORK, January 2, 2026, 12:34 ET — Regular session
- Uranium Energy shares rise in midday trading as uranium-linked stocks open 2026 with sharp gains.
- Peer Denison’s Phoenix project update helps lift sentiment across the uranium group.
- Investors keep an eye on uranium price indicators and project-permitting milestones.
Uranium Energy Corp shares jumped about 10% in midday trading on Friday, tracking a broad rally in uranium miners at the start of the first U.S. session of 2026.
The stock was up 10.3% at $12.88 after trading between $11.85 and $12.96, with about 4.5 million shares traded.
Sentiment improved after Denison Mines said it was ready to make a final investment decision and begin building its Phoenix in-situ recovery (ISR) uranium mine, pending final federal approvals after a Canadian regulator hearing ended on Dec. 11. “Denison stands ready to make a final investment decision and commence construction of the Phoenix ISR mine,” CEO David Cates said in a statement. 1
Project updates can move uranium equities fast because the commodity is largely sold via privately negotiated long-term supply contracts rather than an exchange-traded spot market, Cameco says. UEC’s website showed the TradeTech uranium indicator at $81 a pound on Friday, and the company’s latest news release was dated Dec. 10, leaving the shares trading largely on sector headlines. 2
Other uranium names moved in the same direction. Cameco rose about 7.2%, Energy Fuels gained about 12.0%, Denison’s U.S.-listed shares climbed about 11.3%, and the Global X Uranium ETF advanced about 6.5%.
Denison’s Toronto-listed shares jumped 11.4%, Reuters reported, underscoring how quickly project-readiness headlines can ripple through the sector. 3
Uranium Energy develops ISR uranium projects in the United States and conventional projects in Canada, according to Reuters. It has ISR “hub-and-spoke” platforms in South Texas and Wyoming anchored by licensed processing plants, with permitted satellite projects intended to feed those hubs. 4
In its most recent quarterly update on Dec. 10, UEC said it had $698 million of cash, uranium inventory and equities at market prices and no debt. The company also said it completed a $234 million public offering to support development work, including its planned uranium refining and conversion initiative. 5
The nuclear-fuel supply chain has also drawn attention in recent days. Urenco USA said it completed a first production run of uranium enriched to 8.5% U-235, a step toward so-called LEU+ fuel used in some newer reactor designs, the Reporter-Telegram reported. 6
ISR, short for in-situ recovery, extracts uranium by circulating a solution through underground ore and pumping it back to the surface, rather than digging an open pit.
Traders are watching the next round of permitting decisions on development projects and any changes in published uranium indicators, which can swing higher-beta miners. For UEC, investors will look for updates on production ramp and project timelines alongside any shift in how it builds and sells uranium inventory.
