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9 Mining Stocks With Upside

Stocks in this article: NOR KALU RIC ZINC BRD UEC URZ

4. Uranium Energy (UEC) engages in the production, development and exploration of uranium. The company's property-acquisition program is primarily in the southwestern U.S. states of Texas, Wyoming, New Mexico, Arizona, Colorado, and Utah.

During the second quarter ended Jan. 2011, the company recorded a net loss of $6.6 million, or 10 cents per share, compared to $4.3 million, or 7 cents per share, in the year-ago quarter. Production revenues were nil during the quarter. The company launched production at its Palangana ISR project during the second quarter, but did not generate any uranium sales.

On the balance sheet front, cash and cash equivalents soared 60% to $33.7 million from $21.1 million at the end of July 2010. Furthermore, as of Jan. 2011, the company had a current ratio of 16.82 compared to 4.19 as of July 2010, indicating its strong ability to meet short-term cash requirements.

The boards of Uranium Energy and Concentric Energy recently approved a stock-for-stock merger. Upon completion of the merger, it is anticipated that approximately 1,253,440 shares of UEC common stock will be issued to former Concentric stockholders to acquire Concentric and its undivided 100% interest in the Anderson Property, a 5,785-acre mineral claim block located in Yavapai County, Arizona, with a previous history of small-scale uranium production.

Of the six analysts covering the stock, 67% recommend a buy on it, while 16% rate a hold. On average, analysts foresee 78.5% upside to $5.89 from current levels.

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