Concerns about tight supply due to geopolitical risks and other factors accompanied by high demand for nuclear power worldwide have uranium prices on an upswing. Major economies, including China, Japan, India, Europe, and the U.S., are increasingly embracing nuclear power and expanding their nuclear power capabilities, boosting uranium demand.
Given an uptick in uranium prices, uranium stocks Cameco Corporation (CCJ), NexGen Energy Ltd. (NXE), and Ur-Energy Inc. (URG) have soared significantly in price lately. However, these stocks are best avoided now due to their weak fundamentals and dim outlook.
