From Six Figures to Seven: 3 Renewable Energy Stocks Set to Make Millionaires


  • Here are some of the top renewable energy stocks to buy and hold today.
  • NexGen Energy (NXE): With a severe supply-demand issue with uranium, related stocks like NXE could do explosively well.
  • Freeport-McMoRan (FCX): UBS analysts believe copper is structurally undersupplied and advised investors to stay long.
  • iShares Global Clean Energy ETF (ICLN): It’s always a good idea to diversify at a low cost.
Renewable energy stocks - From Six Figures to Seven: 3 Renewable Energy Stocks Set to Make Millionaires

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With global leaders fighting for the world to go green, investors may want to put money into renewable energy stocks – especially on weakness.

According to the International Energy Agency (IEA), “Renewables are set to dominate the growth of the world’s electricity supply over the next three years as together with nuclear power they meet the vast majority of the increase in global demand through to 2025, making significant rises in the power sector’s carbon emissions unlikely, according to a new IEA report.”

Plus, as we’re already aware 200 countries agreed to transition from fossil fuels, drafting text that would result in tripling renewable energy capacity at the 2023 Conference of the Parties.

With that, according to the IEA, the world has a “real chance” of achieving those COP28 targets. The agency added that the world added about 510 gigawatts of renewable energy capacity in 2023, a 50% jump year over year. 

That being said, investors may want to invest in renewable energy stocks such as:

NexGen Energy (NXE)

Uranium on top of black rock background.
Source: RHJPhtotos / Shutterstock

More than 22 countries pledged to triple their nuclear capacity at COP28 — all noting that nuclear energy was critical for cutting emissions. 

That, plus a severe uranium supply-demand issue just sent uranium to $100 so far. Plus, according to the world’s largest producer of uranium, Kazatomprom, global production will not “adequately cover market demand this decade,” as noted by Seeking Alpha.

All of which is great news for up-trending shares of NexGen Energy (NYSE:NXE), which has been trending higher since October. In fact, since late 2023, NXE ran from a low of about $5.40 to a high of more than $8.20. While it has since pulled back to $7.60, 

I’d use that dip as a buying opportunity. With the catalysts noted above, NXE could easily see $10, near term. Helping, analysts at RBC Capital just reiterated a buy rating on the stock, with a price target of $11 a share.

Freeport-McMoRan (FCX)

Freeport-McMoRan Stock's Long List of Catalysts Boosts Its Buy Status
Source: 360b /

We can also look at copper companies, like Freeport-McMoRan (NYSE:FCX) – which has been pushing aggressively higher with copper prices. Since the beginning of March, for example, FCX ran from a low of about $37 to a recent high of $46.01.

But to be brutally honest, I wouldn’t buy FCX just yet. After running straight up, it’s now a bit overbought at resistance. It’s also over-extended on RSI, MACD and Williams’ %R. However, the moment it does pull back, I’d back up the truck and buy.

According to analysts at UBS, the rally in copper prices is “just the beginning,” as noted by “They continue to believe copper is structurally undersupplied and advised investors to stay long, with tightness in the copper concentrate market building up, as reflected in lower treatment charges. UBS also doesn’t expect demand to be weak either. They see it expanding by over 3% this year, saying structural drivers are still in place.”

iShares Global Clean Energy ETF (ICLN)

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. clean energy stocks
Source: RoseStudio / Shutterstock

Or, we can always look at a beaten-down ETF, like the iShares Global Clean Energy ETF (NASDAQ:ICLN) for its exposure to renewable energy stocks.

At the moment, ICLN is consolidating around $14 a share. From here, with the green energy story gaining momentum, I’d like to see it closer to $19 again shortly. 

With an expense ratio of 0.41%, the ICLN ETF offers exposure to companies that produce energy from solar, wind and other renewable sources. Some of its top holdings include Enphase Energy (NASDAQ:ENPH), First Solar (NASDAQ:FSLR), SolarEdge (NASDAQ:SEDG), and Vestas Wind (OTCMKTS:VWDRY). 

What’s nice about this ETF is that it offers broad exposure to 102 clean energy holdings at a low cost of $13.72 right now. In addition, with the Federal Reserve still on course to cut interest rates a few times this year, it should have a positive effect on ICLN and its 102 holdings.

Again, I expect for the ICLN ETF to trade significantly higher from current prices. Just have patience, and you should do well.

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

Ian Cooper, a contributor to, has been analyzing stocks and options for web-based advisories since 1999.

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