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Uranium Stocks: 5 Biggest Companies in 2022

Melissa Pistilli
Sep. 19, 2022 02:00PM PST

Uranium Investing

What are the largest uranium companies in the world by market cap? We run through the biggest firms
producing and exploring for the nuclear fuel.

Uranium is an important commodity in the energy sector. As the value of this nuclear fuel has
continued to rise, investors have become more interested in the uranium market.
Uranium began this year at US$39.50 per pound, and prices tracked much higher during the first
quarter, pushing the energy fuel to an 11 year high of US$63.50 in mid-April.
Various factors have pushed prices upward. Production declines caused by COVID-19-related closures
in 2020 have played a role, as has widespread demand for nuclear power generation as a clean energy
source.
New nuclear technology will require more uranium output, which bodes well for uranium-producing
companies. The long-term outlook for uranium shows that demand is projected to climb 25 percent
higher by 2025. This uptick will largely come from Asia's robust and growing nuclear energy industry.

There is also increasing interest in small modular reactors. Capitalizing on the same processes used to
create nuclear power on a smaller scale, they offer another way to integrate atomic energy into a project
or energy grid.

Aside from that, eyes are on competition in the spot market from uranium producers that are
purchasing to meet contracts following a year of mine shutdowns and logistical woes. Utilities are
beginning to make deals again too, and the Sprott Physical Uranium Trust (TSX:U.UN) has become a
key buyer of uranium in its own right.
More recently, Russia’s war against Ukraine has served as a serious catalyst for uranium's value
increase.
With that in mind, it's worth looking at which companies are the world's leading uranium miners. The
list below lays out the five largest uranium companies by market cap, providing a brief overview of
their uranium operations and projects. All market cap data was current as of April 11, 2022.