Drilling into North Shore’s Global Uranium Mining ETF

Drilling into North Shore’s Global Uranium Mining ETF

The North Shore Global Uranium Mining ETF [URNM] could have plenty of fuel for growth in 2021 as countries go nuclear. The fund was up 24.6% year-to-date at $53.45 on 5. Furthermore, it hit an intraday high of $61.67 on 17 February.

The North Shore Global Uranium Mining ETF has kept up the positive momentum from 2020 when it soared 68.4%. Despite the number of nuclear reactor operating globally falling to a 30-year low in July last year, the fund had a strong performance.

According to the World Nuclear Industry Status Report, total operating nuclear capacity fell 2.2% year-over-year to 362 gigawatts by mid-2020. The slide was mainly because there were fewer nuclear reactors in operation, but COVID-19 production disruptions at uranium mines have also played a part.

The drop in supply has led to higher uranium prices and the spot price of the commodity climbed 20.5% in 2020, according to data […]

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