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Hedge Fund Managers Increase Allocations to Uranium Stocks as Demand Rises

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Uranium,Hedge Fund Managers,Nuclear Energy

Hedge fund managers are expanding their investments in uranium stocks due to the increasing embrace of nuclear energy and the desire to reduce dependence on Russian oil and gas. The International Energy Agency states that global nuclear generation capacity must double by 2050 to meet 'net zero' goals. This trend, along with the growing demand for nuclear power in Asia and Africa, could lead to significant gains in the uranium sector.

As uranium ore trades at records highs, several hedge fund managers are expanding their allocations to uranium stocks, with a conviction that an increasing embrace of nuclear energy as part of a 'green' future -- along with geopolitically-rooted ambitions to reduce dependence on Russian oil and gas -- means the trend has a lot of room to run.

Taken together, the uranium-friendly trends could power significant gains in the sector. ' equities could see dramatic upside -- 50%, 100%, possibly more,' Terra Capital’s Matthew Langsford told Bloomberg in a report published Sunday. Langsford has been building positions in Denison Mines Corp and NexGen Energy. Headquartered in Vancouver, BC, NexGen is exploring a new Canadian mine thought capable of producing a quarter of the world's supply.

 

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