Uranium stocks are tipped to benefit from the clean energy transition. However, despite the heavy metal’s price rallying earlier this year, the URNJ fund has dropped 16.3% year-to-date. Sprott Junior Uranium Miners ETF falls 13.3% year-to-date.
Top holding Paladin Energy confirms impending production at its Namibian mine, but stock drops amid fears of government taking stakes.
Uranium spot prices rise in 2023, but stocks remain a volatile bet according to Bloomberg .
The Sprott Junior Uranium Miners ETF [URNJ] has gained 4.3% in the past week, though it is down 13.3% since its inception on 1 February.The fund’s performance may be positively affected by last week’s news that its second-largest holding, Australia’s Paladin Energy [PDN.AX], will restart operations at its Langer Heinrich mine in Namibia by June 2025.However, the fund’s third-largest holding, NexGen Energy [NXE.TO], which is building a uranium mine in Canada’s Saskatchewan region, recently announced disappointing second-quarter […]
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