It’s not difficult to understand why many investors are enthused about uranium specialist NexGen Energy (NXE). With the Iran conflict imposing massive uncertainties regarding economic stability and reliable supply chains, there’s a vested interest in securing critical resources from western partners. Not surprisingly, NXE stock has gained about 32% on a year-to-date basis while also attracting an 88% Strong Buy rating from the Barchart Technical Opinion indicator.
Fundamentally, one of the biggest catalysts centers on regulatory clearance. According to NexGen’s website, on March 5 of this year, the Canadian Nuclear Safety Commission (CNSC) granted the final federal license required to begin site preparation and construction. As such, NexGen has officially entered a 48-month construction cycle, aiming to become a major global uranium producer by the end of this decade.
