Rapid nuclear expansion is pushing prices higher
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Dear Fellow Investor,
With uranium supply still struggling to keep pace with demand, uranium prices could push aggressively higher again. All thanks to years of underinvesting and mine closures, which put a dent in supply. Now, according to analysts at Alpine Macro and BCA Research, as highlighted by Investing.com, the supply issue is "further exacerbated by the rapid expansion of the global nuclear reactor fleet, with China alone planning to add 150 new reactors by 2040." In addition, "Around 90 nuclear power plants are being planned, 61 are under construction and decommissioned nuclear reactors are being revived," says Swiss Resource Capital. With supply, it could get even tighter, especially with the Russian uranium ban starting on August 11. Plus, that ban on Russian uranium imports will easily shake up the global market, and could send prices back above $100 until more supply is online. Fueling even more upside is a surprise increase in extraction taxes in Kazakhstan, the world's biggest uranium-producing countries. The new rates "appear to provide less incentive for Kazatomprom to increase production, in our view, with less penalty for higher uranium prices than production, which could add to support for the uranium price," added BMO Capital. All of which is having a positive impact on uranium stocks such as Cameco Corp. (SYM: CCJ), Uranium Energy (SYM: UEC), and Energy Fuels (SYM: UUUU).
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It could also have a positive impact on ETFs, such as:
Company: Global X Uranium ETF (SYM: URA) With an expense ratio of 0.69%, the URA ETF 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.
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Company: Sprott Funds Uranium Mining ETF (SYM: URNM) With an expense ratio of 0.75%, the ETF invests at least 80% of its total assets in securities of the North Shore Global Uranium Mining Index. The Index is designed to track the performance of companies that devote at least 50% of their assets to the uranium mining industry, which may include mining, exploration, development, and production of uranium, or holding physical uranium, owning uranium royalties, or engaging in other, non-mining activities.
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