Uranium company stocks have rewarded investors since the beginning of the year

As uranium prices rise due to strong demand from global funds, low inventories, and supply constraints, the price of uranium per pound has increased by 49 percent since the end of last year, reaching the 73 dollar level.

Volatile fossil fuel prices and ambitious decarbonization targets have led major nations to increase their investments in nuclear energy. This has been among the significant factors increasing the demand for uranium.

China is expected to build 32 more nuclear reactors by the end of the next 10 years, and Japan has authorized plans to restart multiple facilities and build new ones, in line with the World Nuclear Association's upward revision for global nuclear energy production.

Analysts noted that uranium stocks in Europe have also recorded a decline of over 20 percent since 2018.

The military coup on July 26 in Niger, one of the world's largest uranium suppliers, had once again brought the country's importance in meeting global uranium supply to the agenda.

Niger also ranks 7th on the list of the world's largest uranium suppliers.

US and Canadian companies stand out in the uranium sector

When looking at companies engaged in uranium mining, the US and Canada stand out, and these companies are traded on the New York Stock Exchange.

Shares of Cameco Corporation, headquartered in Canada and one of the world's leading uranium suppliers, increased by 80.5 percent in the first 10 months of the year. Shares of NexGen Energy, another Canada-based uranium exploration and development company, rose by 36.6 percent compared to the end of last year.

Shares of Uranium Royalty Corp, which supports the financing of exploration and production projects for uranium mining companies, reached 20.7 percent, while shares of the uranium exploration and development company Denison Mines increased by 40.9 percent.

US-based Lightbridge Corporation, a nuclear fuel technology development company focused on meeting global climate and energy needs, yielded 10.5 percent.

Shares of the US-based Energy Fuels Inc, which operates in uranium and vanadium production and uranium mining, recorded a 29 percent increase. Another company, Uranium Energy, also earned its investors 53.3 percent in the first 10 months of this year.

Shares of the US company Ur-Energy, which is involved in uranium recovery and processing operations as well as exploration and development activities, also increased by 41.7 percent during this period.

The returns of the world's leading uranium companies' shares in the first 10 months of the year are as follows: