Uranium poised for next leg up

Uranium poised for next leg up

Another price hike is forecast for uranium as the world increasingly transitions from fossil fuels. You know it’s been a bad month when a 4% share price fall is considered a good result, but that’s one way of looking at the uranium sector where declines of that size, and less, stand out against double digit drops elsewhere.

No one needs reminding that the past four weeks have been among the toughest for investors in two years, though a handful of industries have held up reasonably well, especially those exposed to energy, as a simple test demonstrates.

Over the past month, as the overall Australian stock market (as measured by the All Ordinaries Index) has lost 6.5%, the energy index has risen by 3.5% and while much of that increase is a result of higher prices for oil and gas, it also reflects the latest uptick in the uranium price.

From US$46 a […]

About the author: StockMan

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