Struggles in the uranium industry have been talked about a lot recently, but with its worst year in a decade, it’s easy to understand why.

While some are saying it appears as though the industry has reached rock bottom, uranium prices could see significant gains in the not-too-distant future.

Uranium prices are currently sitting at $28 per pound, a $0.25 decrease from last week. However, prices are expected to double back up come 2018.

Among those predicting the uranium price will pick back up is David Wang, an analyst with Morningstar. He expects the uranium price to reach $65 a pound by 2019.

Another prediction comes from Haywood Securites—the firm expects the period between 2017-2020 “to be a landmark period for the nuclear sector and uranium stocks as the global operating nuclear reactor fleet expands.”

Since the Fukushima disaster in 2011, uranium prices have no doubt been affected, and FocusEconomics‘ June report states it could be years before the market fully recovers.

Japan has been able to recover since the disaster by bringing some of its reactors back online, with four of them already restarting operations. Meanwhile, the world is building more nuclear reactors than ever before.

So, while uranium prices still have some time to go before they’re where they should be, there are certainly some who have a positive outlook for the industry.

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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

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