The largest industry player is Cameco Corporation (NYSE: CCJ), which have gained more than 27% since last December. The company accounts for more than 16% of global uranium production, and forecasts that more pressure from China and India could raise uranium prices. Also, shares of Uranium Resources (NASDAQ : URRE) have surged in excess of 40 % in the last month and the company has produced over 8 million pounds of uranium. [Is Uranium ETF A Bargain Buy Now?]
Major economies such as Japan and Germany are going to wean themselves off of nuclear energy, while other economies such as the U.S. and France are delaying any further building of new plants. However, demand for new plants by developing economies such as China could be a driving force.
Global X Uranium ETF
Tisha Guerrero contributed to this article.