Equity research stresses the importance of capital expenditure efficiency in determining the UEC stock forecast Operational problems at two of the world’s biggest uranium mines is crimping supply. Canada’s Cameco said it was expecting a shortfall in production at its McArthur River mine while Kazatomprom, the national uranium company of Kazakhstan, has downgraded next year’s production estimates. The net result is that the uranium market could be hit by a 20-million-pound decline on earlier supply forecasts. Last year's COP28 climate change conference concluded with the participating countries pledging to triple global renewable energy capacity by 2030. That should bolster demand for uranium (UXG24) , a critical raw material used to generate nuclear power , that's already been enjoying a boost in popularity. In fact, in September 2023, the World Nuclear Association stated that demand for uranium for nuclear plants is expected to rise to 83,840 tonnes by 2030, and 130,000 tonnes by 2040 - up from 65,650 last year. Sector rotation into commodities is supporting the short- to mid-term outlook, and the UEC stock forecast 2030 reflects this momentum. Price targets in the uranium ETF segment suggest correlated strength for individual miners.
