Uranium prices are on the rise after President Donald Trump signed a series of executive orders aimed at revitalizing the US nuclear industry — including measures to strengthen the domestic fuel supply and expand the nuclear workforce.
On Tuesday (May 27), the U3O8 spot price climbed to US$72 per pound, its first move above the US$70 mark since early February.
The positivity and Trump’s promise to fast track mine permits has also benefited uranium companies with projects in the US.
One of those companies is Anfield Energy (TSXV:AEC,OTCQB:ANLDF), which reported receiving federal approval from the US Department of the Interior for its Velvet-Wood uranium and vanadium project in Utah on Tuesday. The approval marks the first uranium mine greenlit under Trump’s emergency declaration to revive the domestic nuclear fuel cycle.
According to the statement, the Bureau of Land Management completed the environmental review in just 14 days, a timeline officials say reflects a broader shift toward prioritizing critical mineral projects.
“This approval marks a turning point in how we secure America’s mineral future,” said Secretary of the Interior Doug Burgum. “We’re reducing dependence on foreign adversaries and ensuring our military, medical and energy sectors have the resources they need to thrive.”
Shares of Anfield surged to a year-to-date high of C$0.115 following the news, and have since settled in the C$0.10 range.
Rising tide raises all ships
Although the US president’s latest round of executive orders have catalyzed prices in recent days, the uranium sector’s long term fundamentals have also offered support.
The growing demand from artificial intelligence data centers, paired with a push for carbon free energy sources makes a strong case for the expansion of nuclear energy capacity. As such, the current developments have added tailwinds to several uranium and nuclear sector players up and down the supply chain.
Over the past five trading days, enCore Energy (TSXV:EU,NASDAQ:EU) shares have risen 33.33 percent, from C$2.18 on May 22 to C$2.92 on Wednesday (May 28). The company holds a portfolio of various stage uranium projects located in Texas, Colorado, Wyoming and South Dakota. Currently, the Alta Mesa and Rosita projects in Texas are operational.
Uranium Energy (NYSEAMERICAN:UEC) has also seen its share price increase, adding 31 percent over the same five day period, to trade for US$2.89. Boasting a portfolio of 10 US uranium assets in various stages of development from exploration to near term production, the company also owns and operates the Hobson ISR processing plant in Texas, which is operational.
Ur-Energy (TSX:URE,NYSEAMERICAN:URG), which owns the producing Lost Creek mine and the construction-stage Shirley Basin project in Wyoming, is another company experiencing heightened investor interest this past week.
Shares of Ur-Energy rose 26.53 percent over the five day session, and are currently valued at C$1.24.
Diversified players like Western Uranium and Vanadium (CSE:WUC,OTCQX:WSTRF) were also buy targets following the president’s energy directive. The company, which is focused on advancing its past-producing Sunday mine complex in Colorado, saw its shares increase 28 percent since May 21, trading for C$1.14.
ASX-listed companies were also garnering attention, Boss Energy (ASX:BOE,OTCQX:BQSSF) in particular, which holds a 30 percent stake in the producing Alta Messa uranium mine. The joint venture partner for enCore saw its share price value grow 14.27 percent in the last five days, to AU$4.13.
While these companies were first to see Trump’s executive orders boost their share prices, there are many other US-focused uranium companies with projects all over the country now awaiting pro-nuclear upticks.
All share price information was obtained from TradingView on May 28, 2025. Data on project status was retrieved from Mining Data Online.
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
