We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Uranium Energy (UEC) Inks MOU to Supply Uranium to TerraPower
Read MoreHide Full Article
Uranium Energy (UEC - Free Report) has entered a memorandum of understanding ("MOU") with TerraPower to supply uranium to its first-of-kind Natrium reactor and energy storage system.
The Natrium demonstration project that is currently under construction in Kemmerer, WY, will be a commercial-scale plant and will begin operations within the next 10 years. The Natrium technology is a 345-megawatt sodium-cooled fast reactor coupled with a molten salt-based energy storage system that can boost power output to 500 megawatts. It can be paired with energy grids that have high penetrations of renewable resources.
The Natrium reactor is the only advanced reactor that can provide stability to the grid with clean, baseload energy. It also has the ability to seamlessly increase output to meet variable power needs.
Uranium Energy’s Wyoming production platform includes a portfolio of more than 20 uranium projects, which contain the largest S-K 1300-compliant resource base in the United States. UEC and TerraPower have worked together and made significant investments in the nuclear fuel cycle and commercial-scale deployment of clean energy projects, which will directly benefit the U.S. economy. This includes delivering carbon-free power and providing support for establishing a robust U.S. nuclear fuel supply chain for Small Modular ("SMR") and Advanced Reactors ("AR") and their high assay low enriched uranium ("HALEU") requirements.
SMRs and ARs are considered the fastest-growing segment of nuclear energy in the United States. They need a secure, domestic fuel supply chain and the first step of the supply chain is uranium.
In order to become the leading provider of conflict-free, American uranium, UEC enters into strategic relationships to cater to the emerging uranium demand from SMRs and ARs. Uranium Energy’s Wyoming resources have the potential to be a highly reliable source of uranium for American HALEU. It is therefore a good strategiy to supply to TerraPower's Natrium reactor.
Price Performance
Uranium Energy’s shares have surged 67.7% in the past year compared with the industry’s 3.3% growth.
The Zacks Consensus Estimate for Axalta Coating’s 2023 earnings is pegged at 44 cents per share. The consensus estimate for 2023 earnings has moved 23% north in the past 60 days. Its shares have gained 16% in a year.
Universal Stainless & Alloy Products has an average trailing four-quarter earnings surprise of 44.4%. The Zacks Consensus Estimate for USAP’s 2023 earnings is pegged at 27 cents per share. Earnings estimates have been unchanged in the past 60 days. USAP’s shares gained 136.2% in the last year.
The consensus estimate for ANDE's current-year earnings has been revised 3.3% upward over the past 60 days. Andersons beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average. ANDE shares have rallied around 35.5% in a year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Uranium Energy (UEC) Inks MOU to Supply Uranium to TerraPower
Uranium Energy (UEC - Free Report) has entered a memorandum of understanding ("MOU") with TerraPower to supply uranium to its first-of-kind Natrium reactor and energy storage system.
The Natrium demonstration project that is currently under construction in Kemmerer, WY, will be a commercial-scale plant and will begin operations within the next 10 years. The Natrium technology is a 345-megawatt sodium-cooled fast reactor coupled with a molten salt-based energy storage system that can boost power output to 500 megawatts. It can be paired with energy grids that have high penetrations of renewable resources.
The Natrium reactor is the only advanced reactor that can provide stability to the grid with clean, baseload energy. It also has the ability to seamlessly increase output to meet variable power needs.
Uranium Energy’s Wyoming production platform includes a portfolio of more than 20 uranium projects, which contain the largest S-K 1300-compliant resource base in the United States. UEC and TerraPower have worked together and made significant investments in the nuclear fuel cycle and commercial-scale deployment of clean energy projects, which will directly benefit the U.S. economy. This includes delivering carbon-free power and providing support for establishing a robust U.S. nuclear fuel supply chain for Small Modular ("SMR") and Advanced Reactors ("AR") and their high assay low enriched uranium ("HALEU") requirements.
SMRs and ARs are considered the fastest-growing segment of nuclear energy in the United States. They need a secure, domestic fuel supply chain and the first step of the supply chain is uranium.
In order to become the leading provider of conflict-free, American uranium, UEC enters into strategic relationships to cater to the emerging uranium demand from SMRs and ARs. Uranium Energy’s Wyoming resources have the potential to be a highly reliable source of uranium for American HALEU. It is therefore a good strategiy to supply to TerraPower's Natrium reactor.
Price Performance
Uranium Energy’s shares have surged 67.7% in the past year compared with the industry’s 3.3% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
UEC currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Axalta Coating Systems Ltd. (AXTA - Free Report) , Universal Stainless & Alloy Products, Inc. (USAP - Free Report) and The Andersons Inc. (ANDE - Free Report) . AXTA sports a Zacks Rank #1 (Strong Buy), and USAP and ANDE each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Axalta Coating’s 2023 earnings is pegged at 44 cents per share. The consensus estimate for 2023 earnings has moved 23% north in the past 60 days. Its shares have gained 16% in a year.
Universal Stainless & Alloy Products has an average trailing four-quarter earnings surprise of 44.4%. The Zacks Consensus Estimate for USAP’s 2023 earnings is pegged at 27 cents per share. Earnings estimates have been unchanged in the past 60 days. USAP’s shares gained 136.2% in the last year.
The consensus estimate for ANDE's current-year earnings has been revised 3.3% upward over the past 60 days. Andersons beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average. ANDE shares have rallied around 35.5% in a year.