Uranium stocks are seeing a good deal of momentum for two key reasons.
One, the U.S. Senate Committee on Environment and Public Works just approved a bill that could establish a U.S. national strategic reserve of uranium. And two, Cameco Corp. just temporarily suspended production at its Cigar Lake mine in Canada with pandemic concerns.
“The safety of our workers, their families and communities is our top priority,” said Cameco President and CEO Tim Gitzel. “We have had six positive tests at our northern operations in recent weeks, including three at Cigar Lake. While the protocols we have put in place have to date allowed us to effectively manage these cases, there are broader risks we don’t control. Therefore, we believe it is prudent to do our part to continue to protect our people and our operations from the increasing threats that are outside our influence.
With that, some of the top uranium stocks to keep an eye on include Uranium Energy Corp. (UEC), Cameco Corp. (CCJ), Energy Fuels (UUUU), Denison Mines (DNN), and UR-Energy (UEC).