Uranium Energy Corp. (UEC) opened the week with a powerful rally. On Monday, February 3, 2026, the stock closed at $17.81, marking a substantial single-day gain of 9.13%. Trading volume for the session reached approximately 11.7 million shares, coming in slightly below the 10-day average. The US-based uranium producer now commands a market capitalization of roughly $8.6 billion.
A Market at an Inflection Point
The surge in UEC shares coincides with a broader shift in the uranium market. The spot price for the nuclear fuel recently climbed to $85.25 per pound, reaching its highest level in nearly a year and a half. Analysis from Teniz Capital suggests the global uranium sector is approaching a pivotal “tipping point,” where persistent demand and structural supply constraints could drive prices significantly higher in the coming years.
Several key factors are converging to create this dynamic:
- Government Policy: The US government formally classified uranium as a critical mineral in November 2025, underscoring its strategic importance.
- Geopolitical Constraints: Sanctions have limited the availability of nuclear fuel from Russia.
- Global Energy Demand: Ambitious reactor construction programs in China and India are progressing, while the rising energy needs of artificial intelligence and data centers add to long-term power demand.
Major Funds Are Building Substantial Positions
The recent price movement appears to be supported by more than short-term sentiment. A decisive shift is occurring among major institutional investors, signaling deep conviction in the company’s long-term outlook.
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Notable activity in the third quarter of 2025 included the New York State Common Retirement Fund, which boosted its stake by 326% to 819,319 shares, a position valued at around $10.93 million. Other significant institutions followed suit: Mirae Asset Global Investments increased its holding by 293.9%, and Strs Ohio expanded its position by 320.2%. Collectively, institutional investors now control 62.28% of UEC’s outstanding shares.
Strong Balance Sheet and Operational Progress
Financially, Uranium Energy is positioned with notable strength. As of October 31, 2025, the company reported holding $698 million in cash, uranium inventory, and equity investments, all while carrying zero debt. Its physical uranium holdings stand at 1.356 million pounds of U₃O₈.
Operationally, the company continues to ramp up production at its Christensen Ranch site in Wyoming. Furthermore, it established a new subsidiary last year to explore the development of a domestic uranium refinery, aiming to add another link to the secure nuclear fuel supply chain.
Investors will be watching for the company’s next financial update when it reports second-quarter results on March 10, 2026. Until then, the spotlight on the uranium sector is likely to remain intense.
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