SPECIAL REPORT The Top 7 Stocks for 2024

3 Nuclear Energy Stocks Getting Ready to Rocket

Advertisement

  • Harnessing nuclear’s powerhouse capabilities, dive into the most compelling nuclear energy stocks to buy.
  • Uranium Energy (UEC): UEC boasts a notable stock return of more than 70% over six months.
  • Constellation Energy (CEG): CEG fosters clean energy through alliances with U.S. EPA and Swift Current Energy.
  • Denison Mines (DNN): DNN robustly taps into the premium uranium reserve market.
nuclear energy stocks to buy - 3 Nuclear Energy Stocks Getting Ready to Rocket

Source: engel.ac / Shutterstock

Delving into the energy landscape, it becomes critical to highlight the top nuclear energy stocks to buy in our climate-conscious world.

Undeniably, nuclear energy heralds itself as a futuristic and dominant power source. It promises to illuminate our path with less environmental toll than fossil fuels. At the same time, it provides a powerhouse of functionality superior to other conventional energies. Thus, investing in nuclear energy stocks, particularly those that are undervalued, begins to craft an intriguing, eco-friendly financial narrative.

In recent years, this sector has effectively magnetized investors. By knitting together the urgency spurred by climate change, the limitations of solar and wind energies, and the rising costs impacting hydrogen energy production, the industry is proving its efficacy. Simultaneously, the decades-long track record showcasing nuclear energy’s safety propels it further into investment discussions. Thus, numerous companies are zealously harnessing this energy, innovating, and applying its robust capabilities in myriad ways.

Uranium Energy (UEC)

CCJ Stock: Hand in long yellow glove holding a chunk of uranium material
Source: shutterstock.com/RHJPhtotoandilustration

Uranium Energy (NYSE:UEC) has efficiently carved out an impressive niche in the ever-evolving nuclear energy sphere.

In the past six months, UEC stock has outperformed its rivals, boasting a stellar 79% return. Much of this momentum can be attributed to the burgeoning Small Modular Reactors (SMRs) arena, a sector where UEC emerges as a frontrunner.

Recently, UEC unveiled plans to spread its tentacles to Canada. By acquiring exploration projects in the uranium-rich Athabasca Basin, it’s diving into territories rich with nuclear promise. Think of it as a treasure hunter expanding on its horizons.

Meanwhile, back in the U.S., Wyoming has witnessed UEC’s progress firsthand. UEC emerges as a rising star in the nuclear energy constellation, offering a 36% upside from current price levels while attracting a moderate buy rating.

Constellation Energy (CEG)

An illustration of various clean energy symbols; a faucet with water flowing to the earth, a windmill and solar panel with a plug leading to an electric car
Source: RoseStudio / Shutterstock

Constellation Energy (NASDAQ:CEG) is a rising beacon in the domain of clean nuclear energy. It holds a unique position as one of the largest producers of carbon-free energy in the U.S. It’s a clear testament to the massive potential of nuclear power sources for sustainable energy.

Diving deeper, the company reports stellar financials, which include a striking operating income of $669 million and a formidable pre-tax profit of US$1.17 million in Q2. This serves to underscore the economic viability of nuclear energy.

Moreover, the company’s active collaboration with the U.S. Environmental Protection Agency (EPA) signifies its commitment to a green energy future. Additionally, its partnership with Cook County, Illinois, to supply emission-free renewable energy echoes its nuclear advocacy. By ensuring that public facilities run on clean energy, CEG effectively lays down a template for others to follow. Moreover, its alliance with Swift Current Energy to leverage renewable energy further cements its position as a leader in the clean energy transition.

Denison Mines (DNN)

construction workers point at mining equipment in the near distance
Source: Shutterstock

Denison Mines (NYSEAMERICAN:DNN) has positioned itself as a titan in the uranium mining sphere, boasting projects in the coveted Athabasca Basin region of Canada.

This region is globally recognized for housing the crème de la crème of uranium mining and milling operations. Moreover, the company’s crown jewel is its massive 95% stake in the Wheeler River Uranium Project, the largest undeveloped uranium reserve in the basin.

In an era marked by geopolitical flux, the pivot towards nuclear-based energy sources is palpable. This backdrop amplifies the allure of Denison Mines, especially given its premium uranium reserves and strategic locale. The numbers paint an even more intriguing picture. A recent analysis by a Seeking Alpha contributor revealed that the collective net asset value of all of Denison’s endeavors hovers around $2 billion. That’s nearly double the company’s current market cap.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2023/10/3-nuclear-energy-stocks-getting-ready-to-rocket/.

©2024 InvestorPlace Media, LLC