A severe uranium supply-demand issue sent prices soaring to about $100.
Plus, according to the world’s largest producer of uranium, Kazatomprom, global production will not “adequately cover market demand this decade,” as noted by Seeking Alpha.
All of which are positive catalysts for uranium companies, like NexGen Energy (NXE).
Even better, after a recent dip, the NXE stock appears to have caught strong support, and could move aggressively higher from its current price of $7.60. Helping, analysts at RBC Capital just reiterated a buy rating on the stock, with a price target of $11 a share.