It’s Time to Buy the Dips in Uranium Stocks

Uranium stocks and ETFs look interesting on dips.

For one, uranium prices are at a 16-year high. All after one of the world’s biggest producers of uranium, Kazatomprom warned it’s likely to fall short of production targets.

According to the Kazakh uranium mining company on February 1, “It will produce only 80% of its permitted maximum uranium output allowed under Kazakh subsoil usage contracts, instead of the previously announced 90% level, due to difficulties procuring sufficient levels of sulfuric acid, a key ingredient in the company’s in-situ uranium mining process,” as noted by S&PGlobal.com.

“The company had warned in a Jan. 12 statement about the potential to not meet the previously indicated 90% level due to the sulfuric acid issue and “delays in completing construction works at newly developed [uranium] deposits.”

Some interesting uranium stocks to consider are Cameco (CCJ), Energy Fuels (UUUU), and ETFs such as the Global X Uranium ETF (URA).