There’s a uranium supply squeeze going on right now and we believe the best way to profit from it will be to own scarce assets, US producers and processors.
In this report we highlight the 4 stocks with the most exposure to a uranium renaissance already ongoing in America.
The World’s Largest Producer Just Slashed Future Supply
Kazatomprom, the world’s largest uranium supplier, reduced its 2025 production guidance by 20% recently. Delivering a significant blow to an already tight and undersupplied uranium market.
Analysts See Supply Shortage Continuing Through This Decade
US uranium production has collapsed over the last decade but with the industry moving away from Russian supply, the value of domestic pounds will significantly increase in the coming years in our view.
Most importantly, US uranium stocks are not pricing in even a fraction of the potential supply increase that we think is coming.
Currently the US represents 27% of global demand, while only producing 1% of supply – a clear mismatch and a glaring national security issue.
We believe there’s significant upside in owning American companies currently producing uranium and the licensed mills needed to process these pounds. Near term producers have the potential to ramp up revenue and cashflow today, avoiding the risk that domestic supply doesn’t grow as rapidly as we expect.
With uranium prices already hovering near $100/lb, these producers can generate significant cashflow even without massive investments in new capacity, they simply need to bring current projects and refurbished processing facilities online.
The Investment Landscape
There are currently 3 publicly traded companies producing uranium
in the United States:
There are only two licensed, permitted and constructed uranium processing
mills in America:
- White Mesa – owned by Energy Fuels
- Shootaring Canyon Mill – owned by Anfield Energy.
In a recent interview, Anfield Energy’s CEO Corey Dias highlighted the significant scarcity value of Shootaring Canyon Mill.
Anfield in particular, trading at a deep discount to Energy Fuels, offers the most upside as the company moves towards a restart of its mill within the next 18 months.
Large Discount to the Only Other Publicly Traded Mill Operator
Anfield Energy is a market awareness client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.
