Uranium stocks could benefit from three key catalysts.
One, the Trump Administration just expanded its critical minerals list to include uranium in an effort to strengthen domestic supply and reduce reliance on foreign sources.
Two, Trump just praised nuclear power during his speech at Davos.
He said, “I've signed an order directing and approving of many new nuclear reactors. We're going heavy into nuclear. I was not a big fan, because I didn't like the risk, the danger, but they have … what the progress they've made with nuclear is unbelievable, and the safety progress they've made is incredible. We're very much into the world of nuclear energy, and we can have it now at good prices and very, very safe,” as quoted by the World Economic Forum.
In addition, as the demand for artificial intelligence grows, tech giants are turning to nuclear power to fuel their energy-intensive data centers. Meta Platforms, for example, just said it will use nuclear power to run its AI data centers. In fact, it will work with Vistra, TerraPower, and Oklo, which are expected to help add 6.6 gigawatts of power by 2035. Meta also announced a 20-year agreement with Constellation Energy last year to buy nuclear power.
While we can always buy uranium stocks, such as Cameco Corp., one of the best ways to gain exposure is with an exchange-traded fund (ETF), such as:
Global X Uranium ETF (SYM: URA)
With an expense ratio of 0.69%, the oversold Global X Uranium ETF (URA) provides investors access to a broad range of companies involved in uranium mining and the production of nuclear components, including those in extraction, refining, exploration, or manufacturing of equipment for the uranium and nuclear industries, holds about 50 related uranium stocks.
That includes Cameco, NexGen Energy, Uranium Energy, Paladin Energy, Denison Mines, and NuScale Power to name a few.
Sprott Uranium Miners (SYM: URNM)
With an expense ratio of 0.75%, the URNM ETF invests in uranium miners and physical uranium. Some of its top holdings include Cameco Corp., Paladin Energy, Denison Mines, Uranium Energy Corp., Deep Yellow Ltd., Yellow Cake PLC, and Ur-Energy, to name just a few.
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Written by Ian Cooper