Top Uranium Stocks to Consider Heading into 2023

0
85
Nuclear power plant Isar 2 in Eschenbach near Landshut

“Nuclear is finding is way back to acceptance and real enthusiasm,” said U.S. Secretary of Energy Jennifer Granholm at COP27, as quoted by Reason.com.

In fact, she reminds us that the world will need to double, or even triple the amount of power supplied with nuclear energy if we are to reach a global goal of net-zero emissions by 2050.

In addition, Diane Cameron, a nuclear power expert with the Organization for Economic Cooperation Development’s Nuclear Energy Agency added, “nuclear must triple its installed global capacity from 400 gigawatts to 1200 gigawatts electric before 2050” to meet global goals.  She also noted that about 50 new nuclear power plants are currently being constructed and that another 100 are being considered around the world.

As the world goes nuclear to meet global goals, investors may want to keep an eye on uranium stocks, such as Uranium Energy Corp. (UEC), Energy Fuels Inc. (UUUU) Cameco Corp. (CCJ), and Denison Mines (DNN).

We also have to consider that uranium supply is low, with growing demand.  In fact, according to The International Atomic Energy Agency’s (IAEA) Uranium Production Specialist Dr. Adrienne Hanly, as noted by Stockhead, “uranium fuel inventory levels for US nuclear utilities are at just 16 months of requirements – below recommended 2+ years minimum.”