Trump’s Nuclear Revival Plan Boosts Uranium Prices, Sends US Miners Soaring

Rising tide raises all ships

Although Trump's latest round of executive orders has catalyzed uranium prices and sentiment in recent days, the sector's strong long-term fundamentals continue to provide underlying support.

Growing demand from artificial intelligence data centers, paired with a push for carbon-free energy sources, makes a strong case for the expansion of nuclear energy capacity.

Over the past five trading days, enCore Energy (TSXV:EU,NASDAQ:EU) shares have risen 33.33 percent, from C$2.18 on May 22 to C$2.92 on Wednesday (May 28). The company holds a portfolio of uranium projects located in Texas, Colorado, Wyoming and South Dakota. Currently, the Alta Mesa and Rosita projects in Texas are operational.

Uranium Energy (NYSEAMERICAN:UEC) has also seen its share price increase, adding 31 percent over the same five day period, to trade for US$2.89. Boasting a portfolio of 10 US uranium assets in various stages of development, the company also owns and operates the Hobson in-situ recovery processing plant in Texas, which is operational.

Ur-Energy (TSX:URE,NYSEAMERICAN:URG), which owns the producing Lost Creek mine and the construction-stage Shirley Basin project in Wyoming, is another company experiencing heightened investor interest this past week.

Shares of Ur-Energy rose 26.53 percent over the five day session, and are currently valued at C$1.24.

Diversified players like Western Uranium and Vanadium (CSE:WUC,OTCQX:WSTRF) were also buy targets following the president’s energy directive. The company, which is focused on advancing its past-producing Sunday mine complex in Colorado, has seen its share price increase 28 percent since May 21 to trade for C$1.14.

ASX-listed companies have also been garnering attention. Boss Energy (ASX:BOE,OTCQX:BQSSF), which holds a 30 percent stake in the producing Alta Mesa mine, has received particular interest.

Shares of the joint venture partner for enCore are up 14.27 percent over the last five days, to AU$4.13.

While these companies were among the first to get a boost from Trump's executive orders, there are many other US-focused uranium companies with projects all over the country now awaiting pro-nuclear upticks.