Why These Energy Stocks are Gaining This Week

In this article, we are going to discuss the energy stocks that are gaining this week.

The American nuclear energy sector was among the biggest winners this week after the US government signed a deal to invest over $80 billion to build nuclear reactors across the United States. The ambitious plan is a part of the Trump administration’s efforts to significantly expand the country’s nuclear energy capacity amid a record demand for electricity.

According to the latest figures from the Energy Information Administration, U.S. power demand is expected to rise to 4,191 billion kilowatt-hours in 2025 and 4,305 billion kWh in the next year, up from a record 4,097 billion kWh in 2024. A significant part of this increase is attributed to the ongoing AI boom and the proliferation of power-hungry data centers.

The multi-billion-dollar agreement marks a major demand catalyst for nuclear fuel, with uranium futures currently hovering at $82.4 per pound, up 12% from October 21 and testing the 15-month high of $83.5 touched last month.

Nuclear and uranium stocks leading market rally

Our Methodology

To collect data for this article, we referred to several stock screeners to identify energy stocks that had surged the most between October 24 and October 31, 2025. The following list presents the energy stocks that gained the most this week. These stocks are ranked according to their share price gains during this period.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).

10. Denison Mines Corp. (NYSEAMERICAN:DNN)

Share Price Gains Between Oct 24 – Oct 31: 12.81%

Denison Mines Corp. (NYSEAMERICAN:DNN) is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada.

Denison Mines Corp. (NYSEAMERICAN:DNN) was among the nuclear energy stocks that soared this week following reports that the US government will spend at least $80 billion to build nuclear reactors across the country. The strategic move by the Trump administration, aimed at significantly expanding America’s nuclear energy output, is expected to drive an uptick in the demand for nuclear fuel and become an important growth catalyst for suppliers like DNN.

The news also gave a significant boost to global uranium prices, with uranium futures rising by over 12% since October 21.

9. Cactus, Inc. (NYSE:WHD)

Share Price Gains Between Oct 24 – Oct 31: 13.52%

Cactus, Inc. (NYSE:WHD) manufactures and services pressure control equipment for onshore and offshore oil and gas drilling, completion, and production.

Cactus, Inc. (NYSE:WHD) surged after it announced better-than-expected results for its third quarter on October 29. The company reported an adjusted EPS of $0.67 against expectations of $0.58. Its revenue of $264 million was also above estimates by almost $10 million, despite being down 10% YoY.

Moreover, Cactus, Inc. (NYSE:WHD) announced a quarterly cash dividend of $0.14 per share. The company also reiterated that it expects to close the acquisition of a majority interest in the Surface Pressure Control business of Baker Hughes early next year.

Cactus, Inc. (NYSE:WHD) received another boost on October 29 when BofA analyst Saurabh Pant upgraded the stock from ‘Underperform’ to ‘Neutral’, while raising its price target from $39 to $40.