Will these uranium stocks go up this month?
Several types of mining equities are performing well in the market. Most people associate mining equities with gold or silver assets. However, one type of mining stock is currently outperforming the market. Naturally, we’re talking about the current situation of uranium supplies. There are various reasons why the value of uranium stocks is increasing.
The uranium stock market has suffered as a result of COVID-19. COVID increased Uranium reserves to levels not seen since Japan’s Fukushima Daiichi nuclear tragedy in 2011. However, uranium stocks were influenced by the popular subreddit WallStreetBets at numerous points in 2021. As a result of increased interest on the Reddit site, the value of several uranium shares has soared. Since 2014, the Sprott Physical Uranium Trust, a Canadian Closed-End Fund, has attained new highs.
But how can you determine which uranium stocks to invest in? Perhaps you’ve found a uranium company in which you’d want to invest, but you’re not familiar with the market. The finest sources of information to follow are company-specific news, worldwide news, and industry news. A uranium scarcity, for example, or Reddit, might cause a price spike. Let’s take a look at three uranium equities that are currently performing well in the market.
Top Uranium Stocks To Watch
NexGen Energy Ltd. (NYSE: NXE)
NexGen Energy Ltd. is a uranium stock that has recently seen a significant increase in value. This is a uranium company that specializes in the purchase, exploration, and appraisal of uranium projects. The Rook I project, which is the company’s main asset, is one of NexGen’s initiatives. This project consists of 32 contiguous mining claims covering a total of 35,065 hectares.
NexGen awarded a hatch EPCM contract as a front-end engineering design on November 9th. This occurred shortly after the Rook I project began. The EPCM contract was won following a rigorous and competitive competition process in which many globally prominent industry firms participated. As a member of the owner’s team, Hatch is responsible for providing engineering, procurement, and execution planning services to NexGen, as well as assisting with overall project management.
CEO of NexGen, Leigh Curyer said, “Advancing into the FEED stage of development is another exciting milestone for the Company, and we’re pleased to welcome Hatch to NexGen’s growing high-performance team in advancing the Rook I project towards the start of construction. Hatch’s exemplary reputation in the global mining sector and deep understanding of value-driven project delivery aligns perfectly with NexGen’s commitment to elite standards and is a key step in the development of this leading global resource project.” Noting this recent info, will NXE be on your list of uranium stocks to watch?
Cameco Corporation (NYSE: CCJ)
Cameco Corporation is a uranium company that specializes in the production and marketing of uranium. The company’s two businesses are uranium and fuel services. The uranium division of Cameco mines, grinds, buys, and sells uranium concentrate. The company’s main uranium asset is the Cigar Lake uranium deposit in Canada. The fuel services part of the corporation refines, converts, and fabricates uranium concrete, as well as acquires and sells conversion services.
The firm released its third-quarter results for 2021 on October 29th. The company’s net loss was $72 million, with an adjusted net loss of $54 million. In addition, the corporation modified its outlook and continued to contract. Cameco now has a robust balance sheet, according to the business.
CEO and President of Cameco, Tim Gitzel said, “We are optimistic about Cameco’s role in capturing long-term value across the fuel chain and supporting the transition to a net-zero carbon economy. We believe we have the right strategy to achieve our vision and we will do so in a manner that reflects our values. For over 30 years, we have been delivering our products responsibly.” Is CCJ a contender for your uranium stock watchlist before 2021 ends?
Denison Mines Corp. (NYSE: DNN)
Denison Mines Corp. is a uranium stock that we’ve discussed extensively on this site. This is a uranium corporation that develops and produces uranium in multiple locations. The company’s flagship project is the Wheeler River Uranium Project, which is located in Saskatchewan’s Athabasca Basin. Denison currently controls 95 percent of the project, which has been a major success for the company thus far.
The corporation announced the adoption of an Indigenous Peoples Policy, or IPP, on December 2nd. The Board of Directors endorsed this, which indicates the company’s acknowledgment of the critical role of Canadian business in reconciling with Indigenous peoples in the country. Furthermore, this is consistent with Denison’s commitment to taking action to advance reconciliation. This is significant for the corporation because it operates in several areas across Canada that are on Indigenous peoples’ traditional territory.
President and CEO of Denison, David Cates said, “I believe Industry has an important role to play in acknowledging, and building awareness of, the history of Indigenous people in Canada and the critical importance of pursuing the objectives of reconciliation. As such, the adoption of an Indigenous Peoples Policy is a notable step in our Company’s journey to bring reconciliation to the forefront of what we do and how we do it.” Will DNN stock enter your watchlist amid these new developments?
Best Uranium Stocks To Watch Right Now?
Making an investment plan can be extremely advantageous when it comes to investing in uranium stocks. This might be as simple as being up to date on current happenings. But, in this industry, what kind of news is most beneficial? Mining stocks can be affected by sector news, business news, and global news. With this information, which uranium stocks will you be watching this month?
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