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NexGen Energy shares rebounded as uranium and nuclear energy stocks staged a sector-wide recovery, rising 5.92% after approaching their 52-week low of C$10.36. The rebound followed several sessions of heavy selling, including a nearly 5% decline on October 13 on volume exceeding 2.7 times the daily average, which left the stock deeply oversold. The recovery appears driven primarily by technical buying and short covering rather than company-specific news.
Uranium Energy Corp gained approximately 6.49%, while NuScale Power and Oklo advanced around 4.72% and 3.44%, respectively. Meanwhile, Cameco reported an unexpected quarterly loss and lowered its 2026 production outlook, reinforcing concerns about uranium supply constraints despite near-term operational challenges.
Uranium spot prices remain near $90 per pound, up approximately 12% year over year, supported by structural demand from nuclear power and the growing energy requirements of AI data centers.
$NXE
