Best Uranium Stocks: Which are the Best Uranium Stocks for 2022?

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Last Updated on: 7th September 2022, 03:40 pm

Despite being first discovered in the late 18th century, uranium’s capability as an energy source wasn’t realized until the 20th century. As a commodity today, uranium is predominantly valuable because of its nuclear properties used in the energy, industrial, medical, and defense sectors.

Throughout the course of this year, the price of uranium soared to a decade high, largely because of the geopolitical situation between Ukraine and Russia. Although uranium's price has dipped since the high witnessed in April, nonetheless the commodity is performing well. Here are some of our top-rated uranium stocks for 2022.

Best Uranium Stocks to Buy

Here are the best uranium stocks to buy based upon growth and performance.

NexGen Energy Ltd. (NYSE: NXE)

• Market Cap: $1.741 billion
• Forward Annual Dividend Yield: N/A
• Average Volume: 2.27 million shares

NexGen Energy Ltd. is one of the world's leading producers of uranium. Founded in 2011, this Canadian mining company is poised to become a world leader in uranium production in the 21st century with its forthcoming Rook I project. In addition, NexGen Energy Ltd. has numerous exploration projects located in the southwest Athabasca Basin of Saskatchewan.

Ur-Energy (NYSE: URG)

• Market Cap: $235.06 million
• Forward Annual Dividend Yield: N/A
• Average Volume: 1.89 million shares

Ur-Energy was founded in 2004 and is headquartered in Colorado, USA. The company has several uranium projects located throughout the United States. In addition to mining, Ur-Energy is also involved in uranium recovery and processing operations. Furthermore, it has uranium and gold projects in Wyoming and Nevada.

Uranium Energy Corp. (NYSE: UEC)

• Market Cap: $1.054 billion
• Forward Annual Dividend Yield: N/A
• Average Volume: 10.93 million shares

Headquartered in the United States, Uranium Energy Corp was founded in 2003. The company has uranium mining projects throughout the country including in Texas and Wyoming. Furthermore, it has exploration projects in Texas, Wyoming, Colorado,  Arizona,  and New Mexico. In addition, Uranium Energy Corp has three uranium exploration projects located in Paraguay and another uranium exploration project in northern Saskatchewan's Athabasca Basin.

Fission Uranium Corp. (TSX: FCU)

• Market Cap: $524.753 million
• Forward Annual Dividend Yield: N/A
• Average Volume: 1.15 million shares

Founded in 2013, Fission Uranium Corp. is a mining and exploration firm. The company operates the Patterson Lake South (PLS) Project in northern Saskatchewan. This project is the only shallow-depth high-grade uranium deposit in the Athabasca Basin.  The Patterson Lake South (PLS) Project is home to the “Triple R” deposit which the company believes has the potential to be one of the lowest-cost uranium mines on the planet.

Energy Fuels Inc. (NYSE: UUUU)

• Market Cap: $985.481 million
• Forward Annual Dividend Yield: N/A
• Average Volume: 3.13 million shares

Energy Fuels Inc. is one of the largest uranium producers in the United States. Founded in 2006, the company utilizes three main facilities in Utah, Wyoming, and Texas, respectively for the mining and exploration of uranium. In total, Energy Fuels Inc. has seven uranium projects with three additional in situ projects located in Wyoming.

Centrus Energy Corp. (NYSE: LEU)

• Market Cap: $575.777 million
• Forward Annual Dividend Yield: N/A
• Average Volume: 172.62K shares

Centrus Energy Corp. provides nuclear fuel and services to the nuclear power industry. In addition, the company also provides engineering, manufacturing, and design solutions for those in the energy sector and beyond. Moreover, Centrus Energy Corp. designed and operated the American Centrifuge which is considered to be the most advanced gas centrifuge.

Denison Mines Corp. (NYSE: DNN)

• Market Cap: $1.027 billion
• Forward Annual Dividend Yield: N/A
• Average Volume: 5.75 million shares

Headquartered in Canada, Denison Mines Corp. is a uranium mining and exploration company. The firm has four core projects located in the uranium-rich Athabasca Basin in Northern, Saskatchewan. It also is engaged in uranium exploration projects. Furthermore, Denison Mines Corp. cares for two decommissioned uranium mines located in Northern Ontario.

Uranium Royalty Corp. (Nasdaq: UROY)

• Market Cap: $274.368 million
• Forward Annual Dividend Yield: N/A
• Average Volume: 402.58K 

Founded in 2017, Uranium Royalty Corp. has a portfolio of uranium interests which includes royalties and streams. In fact, Uranium Royalty Corp. is the first firm to utilize the royalty and streaming model solely for uranium. Overall, the company has a portfolio of 15 uranium mines that it either collects an existing royalty or has a royalty option on the respective projects.

Best Uranium Stocks With Dividends

Here are some of the best uranium stocks with dividends to consider adding to your portfolio.

Cameco Corporation (NYSE: CCJ)

• Market Cap: $8.982 billion
• Forward Annual Dividend Yield: 0.42%
• Average Volume: 5.5 million shares

Founded in 1988, Cameco Corporation is considered to be one of the largest uranium producers on the planet. Based in Canada, the company has four uranium mines located in Saskatchewan, Canada. Moreover, it also has three uranium operations located in Wyoming. In addition, there is an in situ recovery (ISR) site located in Kazakhstan. 

BHP Group Limited (NYSE: BHP)

• Market Cap: $207.258 billion
• Forward Annual Dividend Yield: 12.33%
• Average Volume: 3.27 million shares

BHP Group Limited is an Australian-based metals and mining company. Founded in 1885, the firm produces uranium, nickel, iron ore, natural gas, coal, petroleum, and copper at its various facilities. BHP Group Limited has 90 projects in various stages of development from mines to exploration located throughout the United States, Australia, Canada, and Chile.

Key Takeaway

For centuries, we have been aware of the existence of uranium. Yet, around the globe, there is an increased move away from fossil fuels. Thus, heightened demand for cleaner energy sources such as uranium. 

The simplest means of gaining exposure to commodities like uranium is with a self-directed IRA, which appreciates in value on a tax-deferred or tax-free basis.

Yet in our humble opinion, gold is the best asset for retirement savers and investors alike who want to protect their wealth from economic uncertainty and market volatility. You can gain more of an understanding of your investment options by having a look at what the IRS (Internal Revenue Service) considers IRA-approved gold.

Always due your due diligence prior to making investment decisions. To learn more about these types of retirement plans also commonly known as “gold IRAs”, here are our reviews of the top gold IRA companies.