The world is slowly transitioning towards clean and green energy sources to reduce carbon emissions, which has given the prospects for nuclear energy stocks a huge boost. Let’s see what the buzz is all about!
Frequently Asked Questions
Cameco Corporation is Canada’s leading uranium producer as well as the world’s largest publicly traded uranium company. This Saskatchewan based company operates uranium mines in North America and Kazakhstan. Besides exploring and mining, Cameco refines, converts, and fabricates uranium. The company sells its uranium to be used as fuel for generating electricity in nuclear power reactors.
Cameco has a market capitalization of over $11.30 billion, whose stocks hit an all-time high at $28.49 in early November 2021. The company reported revenue of $465 million in Q4 of 2021, and its management said they will continue to ramp production up to 15 million pounds per year by 2024, focusing on long-term supply contracts to raise profitability.
*As of February 14, 2022. Subject to change.
Uranium usage as an alternative to natural gas and oil has been rising as the world prioritizes clean energy sources. It has driven up the prices of uranium stocks.
While uranium stocks can be volatile, companies engaging with uranium have registered growth as investors bet that uranium will be used to decarbonize the world along with renewables in the coming years.
Having said that, it is always best to research the company and some key metrics like market cap, past performance and yield before making any investment decisions.
Nuclear energy is a sustainable source of energy that requires uranium. It is a very common metal found all over the world. The energy produced by nuclear energy is zero-emission, clean and renewable.
Nuclear energy is a source of carbon-free electricity, which is flexible and relatively low cost. However, it creates byproducts that are radioactive, though minimal. Thus, it requires extensive safety measures.
While nuclear energy stocks mainly involve uranium stocks, renewable energy stocks also cover companies that provide wind, solar, and hydroelectric energy solutions.