![]() ![]() Overall, Wheeler River is likely to be a game-changing asset for the company. This gives the company exposure to several uranium assets. ![]() Denison Mines also has equity investment in GoviEx Uranium (OTCMKTS: GVXXF) and Skyharbour Resources (OTCMKTS: SYHBF). The company believes that it’s positioned to be among the lowest cost producers of uranium in the region.Īdditionally, Denison Mines has holdings of 2.4 million pounds of uranium, which has a market value of 131 million Canadian dollar. With interest in several strategic assets, the company has exploration potential over an area of 280,000 hectares. The company has a diversified Athabasca Basin asset base. This seems like a good accumulation opportunity.Īs an overview, Denison Mines is involved in uranium exploration and development in Canada. From November 2021 highs of $2.14, the penny stock has corrected to current levels of $1.20. Source: RHJPhtotoandilustration / ĭNN stock also looks attractive among uranium stocks. Uranium, a mineral used in nuclear research Uranium Stocks to Buy: Denison Mines (DNN) Additionally, the demand outlook for nuclear power might imply further upside in spot price. In particular, as uranium prices remain firm. With a production-ready resource base, UEC stock looks like a potential value creator. As an example, China is planning 150 new nuclear reactors in the next 15 years.įrom a financial perspective, Uranium Energy has a healthy balance sheet with $120 million in liquid assets. Demand will be driven by the increasing need for nuclear power. Uranium Energy believes that uranium demand will grow at a compound annual growth rate (CAGR) of 3.1% through 2040. It seems likely that the company’s proved assets will swell in the coming years. The company currently holds 118,000 acres Wyoming’s prolific uranium producing Power River and Great Divide Basins. Further, resources at Wyoming are estimated at 42 million pounds. In terms of assets, Uranium Energy currently has 4.1 million pounds in physical uranium portfolio. This seems like a good accumulation opportunity. However, the stock has corrected steeply from all-time highs of $5.80 to current levels of $2.93. UEC stock is higher by nearly 52% in the last 12 months. based uranium mining and exploration company. Uranium Stocks to Buy: Cameco Corporation (CCJ) Let’s talk about three uranium stocks to buy as nuclear power demand increases. With several exploration and production projects on the cards, higher uranium price will boost cash flow for companies. ![]() This is likely to be good news for uranium stocks. InvestorPlace - Stock Market News, Stock Advice & Trading Tipsħ REITs With Major Upside Potential in 2022 While I don’t expect a euphoric rally, uranium price is likely to remain in a long-term uptrend. It’s not surprising that uranium prices have firmed up on a relative basis in the last 12 months. This would imply steady growth in demand for uranium. In an optimistic case scenario, global nuclear generating capacity is expected to double to 792 gigawatts by 2050. The possibility of increase in nuclear power adoption is reflected in the price action for uranium stocks.Īccording to the International Atomic Energy Agency, global nuclear generating capacity was 393 GW (net electrical) in 2020. Increasingly, countries are looking to diversify away from hydrocarbons, and nuclear power as a source of clean energy seems to be gaining traction. ![]()
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