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Global X Uranium ETF (URA) - free report >>
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Global X Uranium ETF (URA) - free report >>
Best Uranium Stocks to Buy Today
Hey everybody, Dave Bartosiak with Trending Stocks at Zacks.com. Being a gold bug is so 20th Century. Yeah, it’s shiny. You can make yourself a grill. Get a 36-inch chain to swing down around you neck. But can you power a submarine with it? I don’t think so. Enter 2021, the era of Uranium. That’s right folks, the commodity used to fuel nuclear power plants has surged to its highest level since 2014, and a new Cold War is not the reason for the spike. Part of the reason is on the demand side, coming from a fund that’s aggressively buying up the physical market.
Earlier this year, investment firm Sprott (SII - Free Report) launched its Physical Uranium Trust SRUUF. According to the company, the firm has managed to stockpile over 24 million pounds of uranium. Compare this pile of the physical commodity to the spot market where something like 92.2 million pounds traded during the entirety of the year 2020. Today, Uranium futures are trading at $40.25 a pound, up from the March 2020 lows in the high $20s.
The move in the underlying commodity has helped stocks in companies related to the industry. The Global X Uranium ETF (URA - Free Report) has been on fire lately. The ETF is up over 58% YTD and 106% over the last twelve months. With this frenzy on the move, which stocks within this industry are in the good graces of our Zacks Rank? Let’s explore some of the URA holdings to find out.
Centrus Energy (LEU - Free Report) – Zacks Rank #1 (Strong Buy)
As it turns out, Centrus Energy was the only stock within the ETF that was currently in the good graces of the Zacks Rank. Recent earnings estimate revisions to the upside were the reason for the move higher.
Every time you share this video, somebody uses a pound of uranium to power a nuclear plant instead of a nuclear warhead. Follow the author, subscribe to the YouTube Channel, Twitter @bartosiastics and checkout Zacks.com/promo for this week’s deal on Value Investor. See you next time with Trending Stocks at Zacks.com, I’m Dave Bartosiak.