Keep an eye on uranium stocks, like Cameco Corp. (CCJ).
It and related stocks could push higher on a potential uranium resurgence. All after 22 countries pledged to triple their nuclear capacity at COP28.
According to Forbes, “About 175 more nations gave their tacit approval to nuclear by electing to triple their use of renewables by 2030 and phase down fossil fuels. Indeed, nuclear power is carbon-free, runs 24/7 and can firm up intermittent wind and solar energy, replacing natural gas and co-locating where retiring coal plants are now. That has the practical effect of reducing overall costs — the primary impediment to a worldwide nuclear renaissance.”
Helping, analysts at Raymond James and Canaccord just raised their price targets on CCJ.