Over the last couple of months, companies operating in the uranium space, such as Uranium Energy (UEC) and Denison Mines (DNN), have gained significant momentum. Uranium Energy is valued at a market cap of $1.35 billion and the stock has surged more than 50% year-to-date (YTD). Comparatively, shares of Denison Mines have gained 25% YTD, valuing the company at $1.39 billion.
Uranium spot prices are currently trading near multi-year highs. Back in 2011, uranium prices nose-dived after an earthquake in Japan caused a massive nuclear accident at the Fukushima plant. Japan soon after shut down all of its nuclear reactors thereby driving uranium prices lower.
