Shares of uranium producers soared Monday after President Donald Trump signed a sweeping executive order on Friday aimed at rebuilding America’s nuclear energy capacity and breaking reliance on foreign uranium sources, a move that marks the biggest federal intervention in nuclear power policy in decades.
The policy outlines an aggressive roadmap to rebuild the domestic nuclear fuel supply chain, restart shuttered reactors, expand uranium enrichment and conversion capabilities, and fast-track licensing of advanced nuclear reactor designs.
It also includes goals to have 10 new large-scale reactors under construction by 2030 and deliver 5 gigawatts of uprated capacity from existing plants.
Read also: Trump Sparks Uranium Frenzy: Nuclear ETFs See Explosive Gains
Cameco Leads The Rally
Cameco Corp. (NYSE:CCJ) rallied over 10% in Canadian trading Monday, marking its biggest single-day gain since August 2022.
In a note on Friday, Goldman Sachs analyst Brian Lee, CFA expects the move to be a meaningful tailwind for companies in the …