Energy Sector Commodities: Uranium Mining Companies
Because uranium isn’t a widely tradable commodity, the best way to profit from nuclear power is to invest in companies that specialize in the mining, processing, and distribution of uranium for civilian nuclear purposes. These companies are good options in this sector:
Cameco Corporation (NYSE: CCJ): Cameco is the marquee name in the uranium mining space. The company operates four uranium mines in the United States and Canada. The company mines uranium and is also involved in refining and converting the uranium into fuel that’s sold to nuclear power plants to generate electricity.
Strathmore Corporation (Toronto: STM): Whereas UEX is involved in the exploration of uranium ore, Strathmore — another Canadian company — specializes in the mining of uranium. The company, which trades on the Toronto Stock Exchange, operates in the Athabasca region in Canada, as well as in the U.S.
UEX Corporation (Toronto: UEX): UEX is a Canada-based mining company that specializes in the exploration and mining of uranium in the Athabasca basin. The Athabasca basin in Canada is an important region in global uranium mining that accounts for about 30 percent of total world production.
The company is currently still in exploration phases, but it could become a real moneymaker if it comes across large deposits of uranium. The company trades on the Toronto Stock Exchange.