Uranium producers rally as Constellation Energy plans Three Mile Island restart
Sep. 20, 2024 12:48 PM ET
By: Carl Surran, SA News Editor
 zhongguo/E+ via Getty Images
Constellation Energy ( CEG) surges to the top of the S&P 500 leaderboard, +18.2% to an all-time high above $247 in Friday's trading, after announcing a deal to restart its Three Mile Island nuclear plant in Pennsylvania to help power Microsoft's growing plans for artificial intelligence.
Constellation ( CEG) plans to spend ~$1.6B to revive the plant, which it expects to come online by 2028; the company said it expects to renew its license that would extend plant operations to at least 2054.
Uranium producers are getting a boost from the news, including Cameco ( CCJ) +7.9%, Centrus Energy ( LEU) +7%, Forsys Metals ( OTCPK:FOSYF) +7%, Nuscale Power ( SMR) +6.4%, Energy Fuels ( UUUU) +5.2%, Denison Mines ( DNN) +4.7%, Uranium Royalty ( UROY) +4.4%, NexGen Energy ( NXE) +4.3%, Uranium Energy ( UEC) +4.1%, Fission Uranium ( OTCQX:FCUUF) +2.4%, Ur-Energy ( URG) +1.7%.
Shares of Vistra ( VST), which also boasts a strong nuclear power presence, +14.5% for a 10th straight day of gains.
Other high ranking utility stocks on the S&P 500 include NRG Energy ( NRG) +4.4%, Public Service Enterprise Group ( PEG) +3.1%, Exelon ( EXC) +2.6%, Ameren ( AEE) +2.1%. |
