1. NexGen Energy (TSX:NXE,NYSEAMERICAN:NXE)

Current share price: C$7.40; US$5.93

The first of the uranium stocks to watch is exploration and development company NexGen Energy, a company that is focused on projects in Canada's premier uranium mining jurisdiction, Northern Saskatchewan's Athabasca Basin. Its main property in the uranium hotspot is Rook I, which hosts a number of discoveries, including Arrow and South Arrow. NexGen also holds a 51 percent interest in exploration-stage IsoEnergy (TSXV:ISO,OTCQX:ISENF).

NexGen kicked off its 2021 field and regional exploration drilling programs at the Rook 1 property in July. More recently, the company published its inaugural Sustainability Report highlighting its environmental stewardship and commitment to meaningful collaboration with the local Indigenous peoples, including community programs.

Haywood has identified upcoming potential catalysts for NexGen Energy stock, such as the results of its ongoing field programs and submission of its Environmental Impact Statement and Licensing application.

2. Denison Mines (TSX:DML,NYSEAMERICAN:DNN)

Current share price: C$2.41; US$1.93

Denison Mines is another uranium company that offers investors exposure to the Athabasca Basin. The company has a number of interests in the region, most notably its 95 percent interest in the Wheeler River project and its 22.5 percent interest in the McClean Lake uranium mill, which has a toll milling agreement for processing ore from the Cigar Lake mine.

In October, Denison shared initial results from its in-situ recovery (ISR) field test program in the Phase 1 area of the high-grade Phoenix uranium deposit on the Wheeler River property. The results will inform the permitting and preparation of a planned lixiviant test in 2022, which will allow the company to complete the feasibility study for the project in 2020.

3. Uranium Energy (NYSEAMERICAN:UEC)

Current share price: US$4.53

Haywood Securities is impressed with Uranium Energy Corp's (UEC) production-ready assets in close proximity to its South Texas Hobson central processing plant. These multiple deposits could be brought into production at a relatively low capital expenditure.

The company's fully permitted Reno Creek project is construction ready with the potential for 4 million pounds of U3O8 output per year once uranium prices increase enough to warrant a production decision.

UEC began purchasing physical uranium in March of 2021, and, as of the end of October, the company has amassed an inventory of 4.1 million pounds U3O8 of US-warehoused physical uranium.

In addition to these three uranium stocks to watch, Haywood Securities also has buy ratings for Energy Fuels (NYSEAMERICAN:UUUU,TSX:EFR) and IsoEnergy.