Uranium powers commercial nuclear reactors, producing electricity with no carbon emissions. In addition to electricity, the element is also used in industrial and defense purposes worldwide.

It is around 500 times more common than gold with small amounts of uranium present in our rocks, soil and even bodies.

According to Yahoo! Finance, the Bank of America’s metals and mining team stated the current global shortage of uranium could extend well beyond this year. With potentially higher prices to come, signs are pointing to 2024 being the year of uranium.

Yahoo! Finance went on to add that the analysts increased their uranium spot price from $105 per pound to $115 for 2025.

The outlook of uranium is flying high, reaching a 16-year high of more than US$100 per pound.

So, you want in on this little slice, do you? Well, you have come to the right place because in the video above we have put together three companies with which you should become familiar.

  1. Cameco (TSX:CCO; NYSE:CCJ)
  2. Rio Tinto (NYSE:RIO)
  3. Nexgen Energy (TSX:NXE; NYSE: NXE)

Join the discussion: Find out what everybody’s saying about public companies and hot topics about stocks at Stockhouse’s stock forums and message boards.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.


More From The Market Online
Bombardier's Global 7500 business jet

Bombardier’s Global 7500 jet surpasses 75 speed records

Bombardier (TSX:BBD.A) adds over 25 new speed records for its Global 7500 business jet, bringing its grand total to over 75.
BeWhere's asset tracking technology

BeWhere stock drops despite another profitable quarter

BeWhere (TSXV:BEW), an Internet of Things (IoT) stock, adds to its profitable track record in Q3 ending September 30, 2024.
Source Osisko Development Corp

Osisko Development receives permits for Cariboo Gold Project

Osisko Development Corp. (TSXV:ODV) achieved a significant milestone with the approval of BC Mines Act permits for its Cariboo Gold Project.
Stock image generated with AI

Apolo IV Acquisition and Marviken Ontario sign merger agreement

Apolo IV Acquisition Corp. (TSXV:AIV.P) and Marviken Ontario Inc., have signed a definitive merger agreement.