Uranium Energy (UEC) Drops as Traders Cash in on Gains

We recently published 10 Stocks Hammered Harder Than Wall Street. Uranium Energy Corp. (NYSEAmerican:UEC) is one of Tuesday’s worst performers.

Uranium Energy saw its share prices drop for a second day on Tuesday, shedding 8.96 percent to close at $9.65 apiece as investors appeared to have taken profits following last week’s rally.

In recent news, Uranium Energy Corp. (NYSEAmerican:UEC) received the US government’s backing for its Sweetwater Uranium Complex after securing a fast-tracking permit US Federal Permitting Improvement Steering Council. The permit supports President Donald Trump’s executive order on immediate measures to increase American mineral production.

“Sweetwater’s selection under FAST-41 reinforces its national importance as a key project to achieve the United States’ goals of establishing reliable infrastructure, supporting nuclear fuel independence. Acquired from Rio Tinto in 2024, Sweetwater will be UEC’s third hub-and-spoke production platform, following operational advancements underway in Wyoming’s Powder River Basin and South Texas,” said Uranium Energy Corp. (NYSEAmerican:UEC) President and CEO Amir Adnani.

“On completing this tack-on permitting initiative, Sweetwater will be the largest dual-feed uranium facility in the United States, licensed to process both conventional ore and ISR resin. This will provide the Company unrivaled flexibility to scale production across the Great Divide Basin, leveraging UEC’s leading domestic resource base. We’re proud of and grateful for the Steering Council’s support under President Trump’s Executive Order to fast-track a secure, predictable, and affordable supply of critical minerals,” he added.

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