5 Top Uranium Stocks You Need to Watch
As the world looks to ditch fossil fuels, nuclear power is re-emerging as a more popular clean energy source.
And in order to have nuclear power, you need uranium.
Here’s 5 uranium stocks to watch, including one that’s a new player in the game.
Ur-Energy (URG)
Ur-Energy Inc (URG) is an American uranium mining company.
The company owns approximately 48,000 acres for mining in Wyoming, including its flagship property the Lost Creek Project.
Ur-Energy also operates the Shirley Basin Project, the Lucky Mc Mine, and the Lost Soldier Project.
The company took over the Shirley Basin and Lucky Mc Mine through its acquisition of Pathfinder Mines Corporation in 2013.
Ur-Energy was incorporated in 2004 and is headquartered in Littleton, Colorado.
Denison Mines (DNN)
Denison Mines (DNN) is a Canadian uranium mining company.
Its flagship property is the Wheeler River Uranium Project in the Athabasca Basin region of Saskatchewan, Canada.
The company also operates the McClean Lake Mill in Saskatchewan.
In August 2021, Denison acquired 50% ownership of JCU (Canada) Exploration Company from UEX Corporation for $20.5 million.
That acquisition boosted Denison’s interest in Wheeler River to 95%, as JCU owns a 10% interest in the Wheeler River project.
The deal also added the Millennium project and the Kiggavik project to Denison’s portfolio.
Cameco Corporation (CCJ)
Cameco Corporation (CCJ) is a Canadian uranium mining company located in Saskatchewan.
As of 2015 it was the second-largest uranium producer in the world.
CCJ is the largest publicly traded uranium company in the world.
Cameco operates the Rabbit Lake Mine, the Cigar Lake Mine, the McArthur River Mine, and the Key Lake Mill in Canada.
It also operates the Crow Butte Mine in Wyoming and the Smith Ranch-Highland Mine in Nebraska through its U.S. subsidiary, Cameco Resources.
Outside of North America, Cameco owns the Inkai Uranium Project in Kazakhstan.
Rio Tinto (RIO)
Rio Tinto (RIO) is the U.S. traded stock of Rio Tinto Group.
The company is the second-largest metals and mining corporation in the world and the third-largest global uranium producer.
Rio Tinto’s global headquarters are in London with the Rio Tinto Limited headquarters in Melbourne, Australia.
Shares are listed on the London Stock Exchange, the Australian Securities Exchange, and the New York Stock Exchange.
The Rio Tinto Energy business group is the uranium mining arm of the company.
Rio Tinto operated the Ranger uranium mine in Australia until it closed in 2021.
It still operates the Rössing uranium mine in Namibia.
NexGen Energy (NXE)
NexGen Energy (NXE) is a Canadian uranium mining company that is still in the planning stage for its mining operations.
The company owns more than 493,000 acres in Saskatchewan’s Athabasca Basin, including 100% of the Arrow Uranium Deposit.Arrow is the largest development-stage uranium deposit in Canada and NexGen is set to build a new underground mine and mill there.
This is part of the company’s Rook 1 Project, which also includes the South Arrow, Harpoon, Bow, and Cannon discoveries.
NexGen says it is “focused on optimally developing Rook 1 into the largest low cost producing uranium mine globally.”
The feasibility study valued the project at $3.47 billion CAD ($2.7 billion USD).
What Do You Think?
Do you see uranium stocks as a good investment with the shift toward clean energy?
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