DNN - UK unveils plan to triple nuclear power capacity uranium stocks march higher

The UK announced plans Thursday to triple nuclear power generation capacity by 2050. The plan calls for eight more nuclear reactors, which could be approved on existing sites. If implemented, the UK would generate ~25% of electricity from the carbon free energy source, helping the country meet Paris goals.  Favorable policy steps leading up to, and following, Russia's invasion of Ukraine have provided a tailwind to the nuclear industry and shares of uranium miners. Additionally, the Sprott Uranium Trust (OTCPK:SRUUF) has removed significant spot-market supply from the market. All told, uranium prices have risen ~50% year to date.  On the back of Thursday's update from the UK, shares of Cameco (CCJ) and Denison (DNN) rose ~6%, while the broader uranium ETF (URA) moved higher by ~3%. Energy Fuels (UUUU) announced an agreement that could see the company acquire 7 claims in Utah; shares rose ~3% Thursday. With Cameco (CCJ) indicating the contracting

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UK unveils plan to triple nuclear power capacity, uranium stocks march higher