How to Buy Uranium Stocks
There are various stocks and exchange-traded funds that will, in essence, allow you to buy uranium.
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Instructions
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Open a brokerage account. An online broker such as ETrade, Ameritrade or Scott Trade will work. A couple of good discount brokers are Interactive Brokers and Trade Station. You will pay fewer fees with these brokers, but they require a higher deposit to open an account. In either case, make sure that whichever broker you choose to go with is a member of the Financial Industry Regulatory Authority (FINRA) or Securities Investor Protection Corp. (SIPC), which are regulatory commissions established to protect your money.
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Choose a stock that deals in uranium products. Among ther are Cameco Corp. (CCJ), a Canadian company that mines uranium all over the world; BHP Hiltion (BHP), an Australian company that in addition to mining uranium also mines and produces diamonds, coal and iron ore; Rio Tinto, a British-based company that deals in many minerals and natural resources in addition to uranium, including diamonds, coal, aluminum, titanium, silver and gold; and U.S. Energy Corp., an American company based out of Wyoming. In addition to uranium, it deals in oil, gas, zinc gold and lead.
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Consider a handful of nuclear energy ETFs (exchange-traded funds). These invest in several different companies and consolidate into one fund that an investor can purchase, just as if he is buying any other stock. However, it has the added benefit of diversification so that it doesn't suffer from the potential volatility of owning an individual company's stock. Some of these include the Market Vectors Nuclear Energy (NLR), Barclays iShares Global Nuclear Energy (NUCL) and PowerShares Global Nuclear Energy (PKN). These ETFs are invested across several different countries, including the United States, Japan and France.
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Stay current on world events, which have an impact on these and other markets. With the instability of oil-producing countries and the ever-present threat of war--coupled with the growing demand for energy coming from developing countries--nuclear energy is becoming a more plausible alternative. So uranium does warrant some investigation for most investors.
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Tips & Warnings
Make sure to use a stop loss when purchasing any stock.
Never invest with money you need for living. This should only be risk capital.
