The uranium investment theme topped our leaderboard on 4 April, as it was reported uranium prices are on the rise. According to The Motley Fool, the price of U308 (triuranium octoxide, also known as “yellowcake”) "last week surged past $30 per pound for the first time this year, approaching its highs of last year". Morgan Stanley analysts predict it could hit $50 per pound by 2024.
As an investment theme, uranium has gained circa 6.65% in the past month and circa 107% over the past year (as of 9 April’s close). A resurgence in nuclear energy production, which had fallen after the 2011 Fukushima disaster, has powered this demand as more countries use the power source in their energy mix.
Emerging markets have been the biggest growth sector for nuclear, led by China, which aims to be carbon neutral by 2060 — an ambition that could double global uranium […]
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