“The Fund had positive performance during the Reporting Period. Garrett Stevens, CEO at Exchange Traded Concepts wrote: In the fund’s first annual report, covering Decemthrough August 31, 2020, J. Returns of the North Shore Global Uranium Mining ETF so far in 2021 URNM is made up of companies involved in the mining and development of uranium, along with companies that hold uranium or derive royalties from the commodity. The North Shore Global Uranium Mining ETF has seen its returns grow circa 41.95% so far this year, and 7.46% in the past month (to 9 April’s close). The North Shore Global Uranium Mining ETF NexGen Energy’s share price has rocketed from circa CAD$1.28 last year to over CA$5 in April, experiencing a sharp acceleration in buying at the start of December. Third spot is NexGen Energy Ltd, which appointed Harpreet Dhaliwal as CFO last week. As reported by MarketWatch, Cameco beat Wall Street expectations in fourth-quarter results, however, it was dealt a downgrade from Bank of America analyst Lawson Winder, who lowered his rating from buy to neutral and put a $17.50 price target on the stock.Īccording to Winder, Cameco is "by far the largest, most liquid Western uranium producer at a time when uranium fundamentals are improving." However, Winder thinks prices over $50/lb are "unlikely” in the near future. Like Kazatomprom, the stock has had a stellar 12 months, gaining 86.46% to trade at $17.21 as of 9 April’s close. Second spot is Canadian operation Cameco Corp, with a 22.22% weighting. Returns of the Global X Uranium ETF so far in 2021 ![]() As of 9 April, Kazatomprom was trading at €23.20, having hit an all-time high of €24.40 on 6 April. Twelve months ago, uranium miner Kazatomprom’s share price was trading around the $13 level but, as demand for the commodity has increased, so has the share price. Top holding is NAC Kazatomprom JSC-GDR, which represents 23.15% (as of 9 April’s close) of the fund’s weighting. It is now trading around its all-time high of 35 points. For the majority of last year, the index held around the 20 points level, before entering a sustained upward trend at the start of December. The fund tracks the Solactive Global Uranium & Nuclear Total Retire Index. URA provides investors with exposure to companies involved with the mining and production of nuclear components. The Global X Uranium ETF has seen returns grow circa 46% so far this year, and 6.68% in the past month. For investors looking to back this growing investment theme, one option is through an exchange-traded fund. ![]() Both actions constrained supply, pushing up the price of uranium. ![]() However, while demand has been growing, uranium supplies have been diminishing.ĬOVID-19 has caused Kazatomprom to reduce uranium production by 20% last year, while Cameco Corp temporarily suspended production at the world’s largest uranium mine in March 2020. According to the World Nuclear Association, there are 440 reactors in operation globally, with another 50 in production. Political mandates such as the European Union’s decision to be carbon-neutral by 2050 are moving energy production away from fossil fuels. However, demand in the west is also increasing. Returns of the uranium theme over the past yearĮmerging markets have been the biggest growth sector for nuclear, led by China, which aims to be carbon neutral by 2060 - an ambition that could double global uranium demand.
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