I’ve been paying close attention to the uranium energy sector lately, and the opportunities really do seem worth taking seriously. The main reasons are actually pretty clear: on the one hand, the supply side is tightening— the Russian uranium ban takes effect in August, and Kazakhstan has also increased extraction taxes— which directly limits supply growth. On the other hand, the electricity demand of AI data centers is growing explosively, which could be even more exaggerated than many people imagine.

I looked into data from Wells Fargo: just AI data centers alone will need an additional 323 terawatt-hours of electricity by 2030, which is more than 6 times New York City’s total annual consumption. Goldman Sachs is even more aggressive, predicting that data centers will account for 8% of total U.S. electricity consumption. With demand growing at this scale, nuclear energy is definitely something you can’t avoid, so “uranium stocks to buy” now does seem to make sense.

In terms of specific targets, Cameco (CCJ) was recently added to Bank of America’s US1 list, and Goldman Sachs has also raised its target price to $56. RBC Capital recommends buying on pullbacks. Although the most recent quarter’s performance has been a bit disappointing (adjusted EPS of 13 cents, below the expected 26 cents), management put it very plainly: tight supply, mine depletion, and underinvestment will continue to support uranium prices.

For NexGen Energy (NXE), if the Rook 1 project receives Canadian approval, it could become one of the world’s largest uranium mines. Their numbers are even more aggressive: they expect uranium demand to grow by 127% by 2030 and 200% by 2040. Moreover, they estimate a potential supply gap of 240 million pounds in 2040— and only five Rook I-level projects would be needed to fill such a gap.

If you want a more diversified exposure, Energy Fuels (UUUU), Denison Mines (DNN), and Paladin Energy (PALAF) are all good “uranium stocks to buy” options. UUUU recently saw 11 insiders start building positions in early May, including the CEO and a vice president— this is usually a good sign. DNN was rated a buy by Roth MKM with a target price of $2.60; they believe the company could become a low-cost uranium producer. PALAF was rated a buy by six analysts with an average target price of $10.71, and after acquiring Fission Uranium, they will become the world’s third-largest uranium producer.

For an even broader exposure, Sprott Uranium Miners ETF (URNM) and VanEck Uranium and Nuclear Energy ETF (NLR) are also good tools. URNM has a fee of 0.80% and tracks small- and mid-cap uranium mining companies; at a current price of a bit over $22, URNJ looks very cheap. NLR has a lower fee of 0.64%. Its holdings include Constellation Energy, Cameco, PG&E, and more— making it another way to invest in “uranium stocks to buy.”

Overall, the logic behind this sector is solid: the supply side is tightening, the demand side is exploding, and this trend could last for many years. If you enter now, it’s also not impossible to leave some assets for future generations.