11:02 AM EDT, 10/03/2025 (MT Newswires) -- RBC Capital Markets Thursday reduce its uranium sector weight to market weight from overweight, as it believes that increased valuations and recent positive momentum now better reflect the longer-term upside from a widening future supply deficit and growth in nuclear capacity.

RBC expects uranium markets to remain tight and sees potential upside to prices, with steadily rising demand supported by a renewed international commitment to nuclear energy, which should underpin a steady long-term rise in nuclear generating capacity against uncertain supply.

RBC forecast a moderate uranium deficit through the late-2020s, a potential supply response into the late-2020s/early-2030s, and a major deficit forming by the mid-2030s that will likely require elevated prices to incentivize supply.

"We maintain our long-term price forecast at $100/lb post-2035, which we believe is needed to incentivize new production to meet the rising demand," RBC said.

Price: 118.88, Change: +1.34, Percent Change: +1.14