Since our last look at uranium stocks in late September, the futures price has risen by more than 8% to settle just under $49 a pound on Tuesday. The 52-week high is $50.85 and was posted on September 17. The commodity price of uranium had not reached that level since the summer of 2012, the year after the disaster at Fukushima.
Uranium prices began rising in mid-August thanks in part to the launch of an exchange-traded fund that proposed to hold most of its assets in physical uranium. The fund launched with a war chest of $300 million and later raised that total to $1.3 billion. Since its July 19 inception date, the price of uranium has increased by nearly 53%.
The Sprott Physical Uranium Trust Fund trades over-the-counter in the United States under the symbol SRUUF. So far the fund has accumulated more than 34 million pounds of uranium U3O8 […]
- Do contribute something to the discussion
- Do post factual information, analysis and your view on company valuations
- Do disclose if you have an interest in a security
- Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
- Do not complain about a post unless you have reported it first, and not on the forum.
- Do not post financial advice
- Do not advertise or post sponsored content