Uranium stocks are on the rise Thursday as investors hope for a surge in the sector following President Joe Biden’s clean energy plans announced yesterday.
A White House fact sheet goes over details of President Biden’s plan. The segment below is likely what has uranium stocks heading higher today.
“President Biden’s plan includes an immediate up-front investment of $16 billion that will put hundreds of thousands to work in union jobs plugging oil and gas wells and restoring and reclaiming abandoned coal, hardrock, and uranium mines. In addition to creating good jobs in hard-hit communities, this investment will reduce the methane and brine that leaks from these wells, just as we invest in reducing leaks from other sources like aging pipes and distribution systems.”
Keeping President Biden’s plan in mind, here’s how uranium stocks are moving on Thursday.
- Uranium Energy (NYSE:UEC) — The clean energy news has UEC stock up 11.5% with about 6.9 million shares changing hands. That roughly matches its daily average trading volume.
- Denison Mines (NYSE:DNN) — DNN stock is sitting 7.8% higher as more than 24.3 million shares have traded. For comparison, its daily average trading volume is about 30.1 million shares.
- Ur-Energy (NYSE:URG) — Shares of URG stock have climbed 8.2% higher as about 1.7 million shares change hands. The stock’s daily average trading volume is 5.4 million shares.
- Energy Fuels (NYSE:UUUU) — In the case of UUUU stock, shares are up 5.4% as close to 3.7 million trade. To give some perspective, the stock’s daily average trading volume is 5.4 million shares.
- NexGen Energy (NYSE:NXE) — NXE is next up with shares rising 4.8% higher and about 1.1. million changing hands. That’s below its daily average trading volume of about 2 million shares.
- Cameco Corporation (NYSE:CCJ) — The uranium stocks list ends with CCJ up 4.6% and more than 4.5 million shares trading. This stocks’ daily average trading volume is about 6.7 million shares.
President Biden’s plan has been having a strong effect on several stocks over the last couple of days.
That includes those in various sectors, such as the electric vehicle (EV), semiconductor, and clean energy markets. Stocks that have been on the move include ChargePoint Holdings (NYSE:CHPT), Applied Materials (NASDAQ:AMAT), Gevo (NASDAQ:GEVO), and more. Investors can check out this news below.
More Stocks Moving on Biden’s Plan
- EV Stocks: Why CHPT, WKHS, GOEV, CCIV Stocks Are on the Move
- Semiconductor Stocks: 7 Names Looking Chipper on Biden Infrastructure Plan
- Clean Energy Stocks: 5 Names Looking Green on the Biden Infrastructure Plan
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.