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“Despite the strong performance of uranium and uranium stocks, we believe that we are still in the early innings of a bull market for the commodity,” said Tim Rotolo, CEO and Founder of North Shore Indices, the sponsor of URNM. Mr. Rotolo went on to note, “supply and demand dynamics appear favorable for uranium as miners have slashed production just as the construction and development of new nuclear energy reactors is accelerating.”
Based on North Shore’s research, uranium demand currently exceeds supply. Uranium prices will need to rise substantially from their current levels to induce uranium miners to reopen closed mines and to develop new mines.1 These projections do not factor in the potential for nuclear power to be a key role-player in the electrification and decarbonization efforts of the US, China and Japan, all of whom have publicly stated goals of carbon neutrality by 2035 to 2060.”
https://finance.yahoo.com/news/north-shore-global-uranium-mining-133000772.html
Comment: Fairly new ETF charts don’t back past late 2019. I have a list of separate Uranium miners tickers priced .38 cents to $78/sh if anyone is interested I’ll post them.