Day Traders Are Driving Uranium Prices Higher

Enthusiasm from individual traders is reshaping the market for nuclear fuel that generates a tenth of the world’s electricity and sending uranium-linked stocks higher.

After languishing for a decade after the Fukushima disaster led Japan and Germany to close nuclear reactors, spot uranium prices have shot to $47 a pound from $32.25 at the start of August. They remain below their peak of $137 in 2007, according to price-tracker UxC LLC.

U.S.-listed shares of Canadian uranium giant Cameco Corp. CCJ 5.92% have jumped more than 20% in October and almost doubled in 2021. Fellow Canadian miner Denison Mines Corp. DNN 12.73% has surged 27% this month and almost tripled this year. Texas-based Uranium Energy Corp. UEC 2.35% has climbed more than 14% in October.

Behind the rally: a run-up in uranium prices driven by individual traders, who have flocked to a new trust that gives a cheap and easy way of betting […]

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