NexGen (NXE) Climbs 12% as Govt Bares $80-Billion Support for Nuclear Devt

We recently published 10 Stocks Soaring by Double Digits; Uranium Stocks Leading. NexGen Energy Ltd. (NYSE:NXE) is one of the top-performing stocks on Tuesday.

NexGen Energy saw its share prices jump by 12 percent on Tuesday to close at $9.52 apiece as investor sentiment was bolstered by the US government’s $80 billion investment aimed at unleashing the country’s energy sector.

During the session, NexGen Energy Ltd. (NYSE:NXE) rallied alongside its uranium counterparts, namely Denison Mines, Uranium Energy, and Energy Fuels, piggybacking on the US government’s billion-dollar partnership with Cameco Corp., Brookfield Asset Management, and Westinghouse Electric Company to accelerate the deployment of nuclear power in the US.

Investors turned optimistic that the partnership would spill over to NexGen Energy Ltd.’s (NYSE:NXE) business and other uranium stocks, as more nuclear reactors could spark further demand in uranium products.

In other recent news, NexGen Energy Ltd. (NYSE:NXE) successfully raised as much as A$1 billion from the issuance of new shares through a global offering. Proceeds were allocated for the development of the Rook I Project, the largest development-stage uranium project in Canada.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.