3 Billionaire’s Just Dumped This Uranium Stock. Time to Buy?

alcfeoh21 / iStock via Getty Images Demand for uranium spiked in 2023, nearly doubling in price. The Federal Reserve said the global price of uranium jumped from $39 per pound at the end of 2022 to over $$70 per pound by last December. It peaked at over $81 a pound in February, but has since pulled back to around $64.60 today.

However, long-term contracts for uranium have recently hit 16-year highs . Reuters reported Cameco ( NYSE:CCJ ), one of the world’s largest uranium miners, said “With a stronger market environment, we’re currently locking in ceilings of about $125 to 130 per pound and floors at about $70 to $75 per pound in market-related contracts.”

The rising demand is being driven by data centers. As artificial intelligence has swept the world, hyperscalers like Amazon ( NASDAQ:AMZN ) and Microsoft ( NASDAQ:MSFT ) have been pouring more resources into building out greater […]

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