Uranium prices could see higher highs moving forward.
For one, Europe is again embracing nuclear power again after years of vowing to move away from it. French President Emmanuel Macron, for example called for a “nuclear renaissance,” as noted by Fox Business. The UK reversed course on nuclear power, as well. In fact, British Prime Minister Boris Johnson reportedly has a plan that will “involve building new plants as quickly as possible to get Britain back to getting 25% or more of its electric power from nuclear.”
Two, Japan is even supporting the restart of nuclear reactors.
That increased demand should send uranium prices, and related stocks even higher, including Skyharbour Resources (TSXV: SYH) (OTCQB: SYHBF), Cameco Corporation (TSX: CCO) (NYSE: CCJ), Uranium Energy Corporation (NYSE: UEC), Denison Mines Corp (TSX: DML) (NYSE: DNN), and Energy Fuels (NYSE: UUUU) (TSX: EFR).