ChartWatch: Nuclear meltdown! ASX uranium stocks, Boss, Paladin, Deep Yellow, Bannerman, Silex & Lotus

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Uranium prices have fallen sharply after Cameco Corporation’s fourth quarter results

ASX Uranium stocks have plunged today in response, with many sporting double-digit declines

The charts indicate significant pressure on short term trends against still-strong long term trends On Thursday, the world’s largest publicly listed producer of uranium, Cameco Corporation (NYSE: CCJ) , delivered its fourth-quarter earnings report. Cameco enjoyed a major reversal in fortunes on the back of surging uranium prices, delivering earnings per share (EPS) of US$0.21 for the quarter compared to US$0.09 for previous corresponding quarter. The consensus among analysts heading into the announcement was US$0.22.Uranium production of 17.6 million pounds was lower than previous guidance, and forecast production would be negatively impacted by ongoing issues with the supply of sulphuric acid at its 40% owned Inkai uranium mine in Kazakhstan (60% Kazatomprom).Looking forward, Cameco expects it will produce 36 million pounds […]

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