2 ETFs to Buy as Uranium Prices Soar

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Furthermore, last week the spot uranium price hit $35/lb for the first time in six years, when Sprott Physical Uranium Trust (SPUT) started buying and storing physical uranium in expectation of a sustainable recovery. The optimism surrounding the industry’s recovery is based on a combination of current demand from the world’s 445 currently operational nuclear reactors, which provide roughly 10% of global electricity, and the development of new reactors as demand for carbon-free electricity grows.

Given this backdrop, we think ETFs exposed to uranium stocks—Global X Uranium ETF (URA) and North Shore Global Uranium Mining ETF (URNM)—could be solid bets now because they are well-positioned to witness significant upside.

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