Uranium Energy Corp (NYSE American: UEC) saw its stock jump over 11% on Monday morning, buoyed by bullish sentiment sweeping the uranium sector. The rally followed an impressive production update from Energy Fuels Inc. (NYSE American: UUUU), which reported record-breaking output at its Pinyon Plain Mine in Arizona.
Energy Fuels announced that uranium production in May reached 258,745 pounds, surpassing April’s previous record of 151,400 pounds. April had already marked the highest monthly output since the mine resumed operations last year, but May’s performance significantly raised the benchmark. Notably, the average ore grade also climbed to 2.14% in May, up from 1.64% in April.
From January through May, the Pinyon Plain Mine produced approximately 12,461 tons of ore, yielding an estimated 478,384 pounds of uranium. This equates to a five-month average of 96,000 pounds per month, with April and May together averaging an impressive 205,000 pounds monthly.
The strong production figures sparked optimism across the uranium mining sector, sending Energy Fuels shares up over 4% and lifting peers like UEC, which investors see as a key player poised to benefit from increasing domestic uranium output and renewed energy security initiatives in the U.S.
With global demand for nuclear energy climbing and U.S. uranium producers showing tangible output gains, the momentum behind uranium stocks like UEC appears to be building rapidly.
