If you’re looking for penny stock investments, chances are you focus on biotech stocks or technology picks. But don’t overlook the energy industry. While the oil majors like Exxon Mobil (NYSE: XOM) and Dow component Chevron (NYSE: CVX) are indeed some of the biggest corporations in the world by market cap, there are plenty of tiny energy penny stocks out there worth your while.

In fact, if you look outside of conventional crude oil stocks there are a number of penny stocks with big profit potential – including some with a focus on nuclear energy and uranium.

Here are four of my favorite energy penny stocks to buy right now that all focus on uranium and the nuclear power industry.

Denison Mines Corp. (DNN)

Denison Mines Corp. (AMEX: DNN) is engaged in the acquisition, exploration and development of uranium bearing properties.  The company also extracts, processes, sells and reclaims uranium. Year-to-date, this penny stock has jumped an incredible +145.7%, compared to a gain of +5.6% for the Dow Jones Industrial Average.  Last quarter, DNN posted a difference of six cents from its actual quarterly earnings to its original earnings estimate. Trading at $3.08, DNN has a yearly stock range of $1.08 to $3.31.

Uranerz Energy Corp. (URZ)

Uranerz Energy Corp. (AMEX: URZ) is also involved with the acquisition, development and development of uranium properties.  The company mainly operates in Texas, Wyoming and Saskatchewan, Canada. Since January, URZ stock has gained +204.6%, compared to much smaller gains by the broader markets.   Uranerz may have a market cap of just $255 million, but the penny stock does offer great potential profits.  URZ is close to its 52-week high of $4.13, as it currently trades at $4.00.

Uranium Resources I (URRE)

Headquartered in Texas, Uranium Resources I (NASDAQ: URRE) is a uranium exploration, mine development and production company.  URRE is the biggest gainer on this list, as the stock has jumped +374% since January.  In fact, since September the uranium developer has gained +462%!  URRE may be the best buy on this list, with its inexpensive stock price of just $3.65. Finally, the stock is trading very close to its 52-week high of $3.71.

Ur-Energy Inc. (URG)

Ur-Energy Inc. (AMEX: URG) is engaged in the identification, acquisition, evaluation, exploration and development of uranium in Canada and the United States.  Year-to-date, URG stock is up +175%, and is up +154% since the start of September.  Fittingly, URG rounds out the list as another stock that is approaching its 52-week high.  Currently trading at $2.10, URG stock is just eight cents below its highest mark of the year.

As of this writing, Louis Navellier did not own a position in any of the stocks named here.