Why Denison Mines and Energy Fuels Crashed Today

Why Denison Mines and Energy Fuels Crashed Today

What happened

Uranium mining stocks Denison Mines ( NYSEMKT:DNN ) and Energy Fuels ( NYSEMKT:UUUU ) tumbled in Friday afternoon trading, falling 7.6% and 10%, respectively, despite analysts at Canaccord Genuity having just yesterday hiked their price target for Denison. So what

In a brief note Thursday, TheFly.com advised that Canaccord had raised its price target on Denison Mines stock 20% to three Canadian dollars per share. The analyst also reiterated its "speculative buy" rating on the still-unprofitable uranium mining stock .

And yet, things aren’t glowing quite as brightly for the uranium stocks this week as they were last week. On Monday, Sprott Asset Management told The Financial Times that it is not attempting to "corner the market" on nuclear fuel. To an extent, that was something of a self-serving statement, as Sprott may worry that if it is thought to be buying up control over most of the […]

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