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Top uranium stocks to trade: A guide for Singapore traders

Uranium stocks offer Singapore traders access to one of the most intriguing commodities markets in 2025. This guide explores the leading uranium companies worldwide, explains the key market dynamics and shows you exactly how to start trading these stocks through IG Singapore.

Source: Bloomberg

Written by

Kelvin Ong

Kelvin Ong

Financial writer

Reviewed by

Gidon Orelowitz

Gidon Orelowitz

Financial UX Writer

Article publication date:

Key takeaways

  • Uranium stocks are shares of companies involved in the uranium supply chain, including exploration, mining, development, and nuclear technology. While no uranium companies are listed on the Singapore Exchange, IG Singapore clients can still trade major global uranium stocks.

  • The uranium market is experiencing a fundamental shift, with supply constraints, growing demand, strategic stockpiling, and reduced Russian exports creating potential trading opportunities across the uranium supply chain. 

  • Top uranium stocks to watch include Cameco Corporation (NYSE: CCJ), Paladin Energy (ASX: PDN), NexGen Energy (TSX: NXE), Boss Energy (ASX: BOE), and Energy Fuels (NYSE: UUUU). Each offer a balance of stability, growth potential, and diversification that may appeal to Singapore traders.

What are uranium stocks?


Uranium stocks represent companies involved in finding, mining and processing uranium – the fuel that powers nuclear reactors worldwide. With nuclear energy providing about 10% of global electricity1, these stocks offer exposure to a critical energy sector.

These companies typically fall into four categories:

  1. Exploration companies
  2. Mining producers
  3. Development companies
  4. Nuclear technology companies

While no uranium companies are listed on the Singapore Exchange, IG Singapore clients can easily trade major global uranium stocks from Canada, Australia and the US.

The uranium supply-demand picture


The uranium market is experiencing a fundamental shift:

  • Supply constraints: Many mines closed during the last price downturn. Production is only now starting to recover, creating a significant supply gap2.
  • Growing demand: Over 60 new nuclear reactors are under construction globally, mostly in Asia3.
  • Strategic reserves: Countries are stockpiling uranium for energy security, adding pressure to the market.
  • Reduced Russian exports: Western sanctions have limited access to Russian uranium, which previously accounted for about 14% of global supply.

This imbalance creates potential trading opportunities for Singapore investors across the uranium supply chain.

A brief history of uranium investment


Uranium has experienced four major market cycles:

  1. 1970s: Oil crisis drives reactor construction and uranium demand
  2. 2000s: Prices surge from $10/lb to $140/lb (2003-2007)4 
  3. 2011-2018: Fukushima accident creates prolonged bear market
  4. 2020-present: Prices triple to $80/lb amid supply constraints5

Common misconceptions about uranium trading


When considering uranium stocks, it's important to separate facts from fiction.

Myth: Uranium stocks are just like other commodities

Reality: Unlike oil or gold, uranium has unique market characteristics. Most uranium is sold through long-term contracts, not the spot market, creating distinct price discovery mechanisms not seen in other commodity markets6.

Myth: Nuclear accidents always devastate uranium stocks

Reality: While accidents like Fukushima did cause market downturns, the industry has shown resilience. Despite initial setbacks after 2011, global nuclear capacity continues to grow.

Myth: Renewable energy will replace nuclear power

Reality: Most energy scenarios from institutions like the International Energy Agency include roles for both renewables and nuclear power, with their complementary characteristics supporting future energy grids7.

Top 5 uranium stocks to watch

1. Cameco Corporation (Stock symbol - NYSE: CCJ)

What it does

  • World's largest publicly traded uranium producer
  • Controls roughly 18% of global uranium production8
  • Market capitalisation: approximately US$18 billion (as of March 2025)
  • Operates major mines in Canada's uranium-rich Athabasca Basin
  • Recently acquired a stake in Westinghouse Electric to expand across the nuclear fuel cycle9

Why it's worth watching

Cameco Corporation offers the stability of an established producer with significant upside potential. It is actively restarting previously shuttered mines to meet growing demand, with substantial production growth expected through 2027.

Its long-term contracts with nuclear utilities provide revenue predictability, making it an ideal cornerstone uranium investment for Singapore traders seeking a balance of stability and growth.

Key price drivers

For Cameco's stock price, these factors typically have the biggest impact:

  • Uranium spot price movements
  • Quarterly production reports
  • New utility contract announcements
  • Mine restart updates
     

2. Paladin Energy (Stock symbol - ASX: PDN)

What it does

  • Australian-based uranium producer
  • Market capitalisation: approximately AU$2.4 billion (as of March 2025)
  • Operates the Langer Heinrich mine in Namibia
  • Trades during Singapore/Asian market hours
  • Focuses on low-cost uranium extraction methods

Why it's worth watching

Paladin Energy offers Singapore traders an ASX-listed option with strong upside potential. It has successfully restarted its Langer Heinrich mine just as uranium prices are rising.

With a lean cost structure and strengthened balance sheet, Paladin is well-positioned to capture the benefits of the uranium price recovery while providing exposure to both Australian and African uranium resources.

Key price drivers

For Paladin's stock price, these factors typically have the biggest impact:

  • Production ramp-up progress at Langer Heinrich
  • African political developments affecting mining operations
  • Uranium spot price movements
  • Australian dollar exchange rate fluctuations
     

3. NexGen Energy (Stock symbol - TSX: NXE)

What it does

  • Canadian uranium developer with world-class assets
  • Market capitalisation: approximately CA$4.1 billion (as of March 2025)
  • Developing the Arrow Deposit in Saskatchewan's Athabasca Basin
  • Advancing one of the highest-grade uranium discoveries ever made
  • Implementing innovative mining techniques to minimise environmental impact

Why it's worth watching

NexGen Energy controls what many industry experts consider the most impressive undeveloped uranium resource in the world. The Arrow Deposit features exceptionally high grades that should translate to bottom-quartile production costs.

With production expected to begin in 2026 and a mine life exceeding 20 years, NexGen offers exposure to the long-term uranium story with potentially significant returns as the project moves toward production.

Key price drivers

For NexGen's stock price, these factors typically have the biggest impact:

  • Permitting and construction milestone announcements
  • Feasibility study updates
  • Changes to uranium development regulations in Canada
  • Institutional investment news
     

4. Boss Energy (Stock symbol - ASX: BOE)

What it does

  • Australian uranium developer
  • Market capitalisation: approximately AU$1.1 billion (as of March 2025)
  • Developing the Honeymoon uranium project in South Australia
  • Using modern in-situ recovery (ISR) technology
  • Managing fully permitted operations with restart funding in place

Why it's worth watching

Boss Energy represents a promising near-term production story. The Honeymoon project is fully permitted and funded, with production expected to commence shortly10.

Its ISR mining method offers lower capital costs and reduced environmental impact compared to conventional mining, potentially leading to stronger profit margins even if uranium prices fluctuate.

Key price drivers

For Boss Energy's stock price, these factors typically have the biggest impact:

  • Honeymoon project timeline updates
  • Initial production results
  • ISR technology performance metrics
  • Australian regulatory developments
     

5. Energy Fuels (Stock symbol - NYSE: UUUU)

What it does

  • Leading US-based uranium producer
  • Market capitalisation: approximately US$1.2 billion (as of March 2025)
  • Operates multiple production-ready uranium assets throughout the western US
  • Processes rare earth elements at its White Mesa Mill facility
  • Produces vanadium for steel and energy storage applications

Why it's worth watching

Energy Fuels offers unique exposure to US energy security policy. As America seeks to reduce dependence on foreign uranium sources through initiatives like the Uranium Reserve Program11, it is positioned to benefit from growing government support.

What makes Energy Fuels particularly interesting is its diversification beyond uranium. Its rare earth elements processing creates additional revenue streams in critical materials essential for electronics, electric vehicles and renewable energy technologies.

Key price drivers

For Energy Fuels' stock price, these factors typically have the biggest impact:

  • US government uranium purchase announcements
  • Rare earth element production volumes
  • Nuclear regulatory developments in the US
  • Renewable energy and EV market trends

How to trade uranium stocks through IG Singapore


Trading uranium stocks with IG Singapore is simple:

1. Open an account with IG Singapore

2. Place your trade

  • Search for uranium stocks (e.g., Cameco, Paladin Energy)
  • Select direction: buy (if you expect prices to rise) or sell (if you expect a fall)
  • Set position size and add stop-losses to manage risk
  • Confirm your trade

3. Monitor and manage

  • Track performance with real-time charts
  • Stay informed about price-moving uranium news
  • Consider taking profits during price rallies
  • Use guaranteed stops for additional protection

Ready to start? Open an account here.

Footnotes

1 https://www.iea.org/reports/world-energy-outlook-2023

2 World Nuclear Association, Nuclear Fuel Report, 2024

3 International Atomic Energy Agency (IAEA), Reactor Status Report, 2025

4 TradeTech Uranium Price History, 2000-2010

5 Sprott Asset Management, Uranium Market Report, 2024

6 UxC Consulting, Uranium Market Outlook, Q1 2025

7 International Energy Agency, Net Zero by 2050 Report

8 Cameco Corporation Annual Report 2024

9 Cameco and Brookfield Acquisition of Westinghouse, 2023

10 Boss Energy Project Update, February 2025

11 US Department of Energy, Nuclear Fuel Security Program, 2024