5 Top Uranium Stocks up Year-to-date

June 8, 2016

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Uranium’s struggles this year have been widely talked about on a variety of platforms, simply because the industry is having its worst year in roughly a decade. 

Currently, the uranium price is sitting at $28.25 a pound as of June 8, which is up a $1 from the week before. It isn’t expected to pick up drastically until the fourth quarter of 2016—as indicated in FocusEconomics‘ May 2016 report. Analysts surveyed expect the price to average $39.70 a pound.

Despite the rough patch, some uranium companies have seen relative success this year. INN took a look at a number of junior mining uranium stocks that have made gains of over 100 percent during trying times.

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CanAlaska Uranium (TSXV:CVV)

CanAlaska Uranium is having a successful year.  So far year-to-date, the company’s stocks have boomed 518.18 percent, or $0.57, to sit at $0.68.  Over a one-year period, CanAlaska has increased by 248.72 percent overall, but the year-to-date spike is impressive on its own.

The company’s key uranium properties include the West McArthur and Cree East projects. Since 2004, over $86 million has been expended exploring and identifying high grade uranium targets on its properties, with a variety of uranium targets being delineated.

CanAlaska most recently announced results from the first drill hole of Cameco’s (TSX:CCO) year-one program at West McArthur.

Uracan Resources (TSXV:URC)

Uracan Resources has been focused on exploring and developing uranium deposits in the Athabasca Basin in Saskatchewan. Currently, the company is exploring in its two joint venture properties:the Black Lake project where they are earning a 60 percent interest from UEX Corporation (TSX:UEX) and the Clearwater Project, earning a 70 percent interest from Forum Uranium (TSXV:FDC).

In May, Uracan announced a non-brokered private placement of up to 20 million flow through share at a price of $0.05 each with gross proceeds totaling $1 million.

Much like CanAlaska, Uracan Resource has had success, making year-to-date gains of 300 percent—a $0.06 spike—to $0.08.

Uranium Future Outlook: Uranium Price Forecast for 2016 and Onward

A look at where analysts see the uranium price moving in the short and long term.

Read the full article!

enCore Energy (TSXV:EU)

enCore Energy currently has a 100 percent interest, with no holding costs, of private mineral rights in New Mexico, including the Crownpoint and Hosta Butte uranium deposits. The project has produced over 347 million pounds of uranium in the past, and still holds uranium mineralization. Between the two areas, it is estimated there are 12.68 million tonnes of total indicated uranium.

Year-to-date, the company’s shares have increased 275 percent by $0.05 to $0.07, which is consistent with its progress over a one-year period—the company’s share price increased 200 percent overall between June 12, 2015 and June 8, 2016.

enCore’s most recent news was posted on January 6, 2016, when the company announced that it had concluded an asset purchase agreement with Energy Fuels (TSX:EFR) for the right to mill uranium ores at the White Mesa Uranium Mill.

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Download this FREE Special Report, Uranium Future Outlook: Uranium Price Forecasts and Top Uranium Stocks to Watch 

Purepoint Uranium Group (TSXV:PTU)

Purepoint Uranium has a variety of uranium projects. Some are joint venture projects, while others are 100 percent owned by the company. For example, the Hook Lake project is a joint venture with Cameco (39.5 percent), AREVA Resources (EPA:AREVA) (39.5 percent) and Purepoint (21 percent).

The most recent news regarding the Hook Lake project came near the end of May, when it was announced that the joint venture partners would be reallocating funds for continued drilling at the Spitfire Zone this year.

The company’s share price has seen substantial success year-to-date, gaining 142.86 percent to $0.085.  For a one-year period, Purepoint’s shares have risen 88.89 percent.

Belmont Resources (TSXV:BEA)

Last on this list, but not least, is Belmont Resources. The company has seen its shares rise 137.5 percent year-to-date, an increase of $0.06, to $0.95. Over a one-year period, the company has gained 72.73 percent.

The company currently holds two uranium projects: the Kibby Basin and Saskatchewan properties. Regarding Kibby Basin, Belmont announced at the end of May that the TSXV had accepted its property purchase agreement to acquire a 100 percent interest in the project.

Uranium Future Outlook: Uranium Price Forecast for 2016 and Onward

A look at where analysts see the uranium price moving in the short and long term.

Read the full article!

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Forum Uranium is a client of the Investing News Network. This article is not paid-for content.

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Category: Energy