Uranium stocks continue to be a tough decision for Motley Fool investors. There were several catalysts that hit the industry, leading to soaring growth and followed by crashes. Yet now, companies such as Cameco (TSX:CCO) (NYSE:CCJ) and NexGen Energy (TSX:NXE) have reached 52-week highs. What’s been going on to allow them to reach these levels , and are they still buys? What happened?
Cameco stock and NexGen stock both edged towards 52-week highs this week mainly due to Russia. Russia continues to be a massive supplier of uranium. However, the ongoing sanctions on Russia due to the tragic Ukraine crisis have led countries to seek out other supplies. This created an increase in uranium stocks from other countries.
Cameco stock and NexGen stock are included in this category. Both companies operate out of Canada, selling their supplies to the Americas, Europe, and Asia. And this could only be growing stronger […]
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