Uranium stocks show strength atop Reddit-fueled metals market volatility

Uranium stocks show strength atop Reddit-fueled metals market volatility

The Rossing joint venture near Arandis, Namibia, is one of the oldest and largest uranium mines in the world and one of the uranium supply sources that has been affected by COVID-19.
Source: Christian Ender/Getty Images News via Getty Images Uranium equities have had a banner start to the year as positive business fundamentals seemed to collide with the chaos of Reddit-fueled market chaos.

Shares in Cameco Corp. jumped above $14 for the second time in 2021 during the week of Feb. 1, increasing year on year from a share price of about $8.30. The company operates the largest uranium-producing mine in the world, Cigar Lake in Saskatchewan, Canada, and has suffered significant losses due to production stuttering related to the effects of the coronavirus pandemic. The Global X Funds – Global X Uranium ETF, an exchange-traded fund that provides investors with broader exposure to uranium mining, booked similar […]

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