|Uranium, lithium names rally on clean energy optimism|
Apr. 01, 2021 2:44 PM ET Uranium Energy Corp. (UEC) By: Carl Surran, SA News Editor 63 Comments
Investors hunting for a way to capitalize on President Biden's big plans for clean energy infrastructure are latching on to uranium names, which are moving broadly higher in today's trading.
While nuclear energy is not specifically mentioned in the $2T infrastructure proposal, its federally mandated "energy efficiency and clean electricity standard" would seem difficult to achieve without it.
Presidential climate advisor Gina McCarthy says nuclear energy should be one of the power sources eligible for a national Clean Energy Standard mentioned in the Biden plan.
After posting gains yesterday, shares are accelerating higher: UEC +9.9%, DNN +7.3%, URG +7.3%, UUUU +5.1%, OTCQX:FCUUF +5%, NXE +4.7%, CCJ +3.9%, OTCQX:WSTRF +3.8%.
Two new research reports from BMO Capital and Morgan Stanley say today's uranium prices mark a floor and predict a rally in prices over the next few years to ~$50/lb. by 2024.
Most lithium names are stronger too: LTHM +8.9%, ALB +3.6%, SQM +2.5%.
ETFs: URA, URNM, LIT