“Despite the recent price drop, we see the potential for increased demand over the medium to long term,” Pearce said.
Cameco (TSX: CCO; NYSE: CCJ) sticks out as a top stock pick, BMO recommends, while it expects over 30% growth in earnings before interest, taxes, depreciation and amortization from 2024 to 2026.
On the supply side, BMO notes that 2024 could see the first significant growth in uranium supply in years as older projects catch up with demand. However, Pearce warns that “permitting delays, logistical issues, and political interference” could make it hard to achieve that growth.
The spot price for uranium oxide in July closed at $84.75 per lb., according to averaged UxC and TradeTech month-end prices, with longer-term contracts settling at $80.50.
Brian Gitt, who leads business development at California-based Oklo, a small modular reactor (SMR) specialist, emphasized the role of advanced nuclear technologies in…
