Uranium stocks have been surging thanks to the Constellation Energy Co. (NASDAQ: CEG) and Microsoft Co. deal for the largest power-purchasing deal in history. The large hyperscalers are committed to sustainable and clean energy solutions to power their data centers. The electricity will be supplied by restarting the Three Mile Island Unit 1 nuclear reactor pending regulatory approval by the United States Nuclear Regulatory Commission (NRC). Uranium is required to power this and other nuclear reactors, which is why uranium stocks in the oils and energy sector have been rising sharply.
Here are two more uranium stocks that are gaining from the movement to fuel nuclear power plants.
Uranium Royalty Gains Access Without the Risk of Mining and Processing
While Uranium Royalty Co. (NASDAQ: UROY) doesn't produce nor intends to produce uranium, it believes itself to be a pure-play uranium company. The word 'royalty' in its name doesn't refer to monarchs or bloodlines but to royalty payments it receives from its portfolio of geographically diversified uranium assets. They basically make money off of partially owning uranium assets by collecting royalty payments without having to bear the capital expenditure (CAPEX) and risk that comes from operating a mining company.
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