Uranium. Stock Image.
The world’s largest holder of physical uranium keeps expanding its war chest.
The Sprott Physical Uranium Trust (TSX: U.U for USD; U.UN for CAD) now holds about 72.4 million lb. of uranium, according to its website. That’s after buying 400,000 lb. of uranium oxide (U3O8) Wednesday, BMO Capital Markets analysts Helen Amos and George Heppel said Thursday in a note.
“In our view, the increasing activity of financial players and the focus of utilities and governments on uranium supply security will continue supporting the improving uranium demand fundamentals,” the BMO analysts wrote.
Sprott bought more than 2.3 million lb. of U3O8 in the third quarter, BMO reported late last month. That was the highest amount since the first quarter of 2023.
The trust now has a net asset value of about $6 billion. It’s run by Toronto-based Sprott Asset Management, which oversees total…
