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3 Nuclear Stocks to Watch Going Forward
CamecoCameco(US:CCJ) Schaeffers Investment Researchยท2024-12-18 19:48

Industry Overview - The AI boom continues to drive rapid energy consumption, keeping nuclear stocks relevant as we approach 2025 [1] Company Analysis: Oklo Inc (NYSE:OKLO) - Shares of Oklo Inc are up 2 9% at $19 66, after reaching a high of $22 94 earlier in the day [2] - The company announced a strategic partnership with data center operator Switch, backed by Sam Altman-Reid [2] - The stock has been volatile since its Oct 30 record high of $28 11, but the $18 level has contained pullbacks [2] - Year-to-date, the equity is up 84 8% [2] Company Analysis: Cameco Corp (NYSE:CCJ) - Cameco Corp is one of the world's largest uranium producers, a key fuel for nuclear reactors [3] - The stock has been slipping since its Dec 6 record high of $62 55, closing lower in seven of the last eight sessions [3] - Today, the stock is up 1 5% at $54 19, bouncing off the $54 level which acted as resistance in June and July [3] - Year-to-date, the equity is up 25 7% [3] Company Analysis: NuScale Power Corp (NYSE:SMR) - NuScale Power Corp stock is down 5% at $20 62, extending a steady downturn after its Nov 29 record high of $32 30 [4] - The $20 level, previously a pressure point, could now act as support, with the 60-day moving average capturing today's pullback [4] - Since the start of the year, SMR is up 520% [4]