Uranium contract prices soaring on uncertain supply, big power demand - Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 29 2024
0mins
Source: SeekingAlpha
Uranium Prices Surge: Long-term uranium contract prices have reached their highest levels in over 16 years, driven by supply uncertainties and increased demand from utilities for fuel to support expanding AI data centers, with current term prices around $79/lb.
Future Market Outlook: Despite a global push for clean energy potentially doubling nuclear generation by 2050, experts predict the uranium market will remain in deficit for the next decade unless prices exceed production costs significantly, while demand from data centers is expected to grow substantially by 2030.
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Analyst Views on CEG
Wall Street analysts forecast CEG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CEG is 412.82 USD with a low forecast of 350.00 USD and a high forecast of 520.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
8 Buy
3 Hold
0 Sell
Moderate Buy
Current: 261.420
Low
350.00
Averages
412.82
High
520.00
Current: 261.420
Low
350.00
Averages
412.82
High
520.00
About CEG
Constellation Energy Corporation is a producer of emissions-free energy and an energy supplier to businesses, homes and public sector customers nationwide. The Company’s nuclear, hydro, wind, and solar generation facilities have the generating capacity to power the equivalent of 16 million homes, providing about 10% of the nation's clean energy in the United States. Its segments include Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. Through its integrated business operations, it sells electricity, natural gas, and other energy-related products and sustainable solutions to various types of customers, including distribution utilities, municipalities, cooperatives, and commercial, industrial, public sector, and residential customers in markets across multiple geographic regions. Its nuclear fleet has a generating capacity of approximately 22 gigawatts (GWs). It operates approximately 10 GWs of natural gas, oil, hydroelectric, wind, and solar generation assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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