CEO of UEC buying UEC shares, Bullish Uranium Outlook

Uranium Energy (UEC) Stock Rises Today on Insider Buying, Bullish Uranium Outlook

ByAndrew Meola
04/20/15 - 10:48 AM EDT

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NEW YORK (TheStreet) -- Shares of Uranium Energy Corp. (UEC) rose 13.37% to $1.78 in morning trading Monday thanks to some insider buying last week.

Amir Adnani, CEO, President, and Director of Uranium Energy, bought 10,000 shares of the company in a transaction last Wednesday, according to an SEC filing. He purchased the shares at $1.50 apiece for a total transaction value of $15,000.

Additionally, Forbes reported a bullish outlook for uranium prices in an article on Friday. Japan shut down all of its nuclear reactors in the wake of the Fukushima disaster in March 2011, but Japanese Prime Minister Shinzo Abe plans to restart the nation's nuclear industry with a goal of sourcing 20% of the nation's electricity needs from nuclear power by 2030.

Forbes noted that Japan's restarting of its nuclear power plants would bolster uranium prices, "as this will remove the biggest psychological barrier for global investors to invest in uranium or the uranium mining industry."