Why Did Denison Mines, Energy Fuels, and Uranium Energy All Rise by at Least 10% Today?

What happened

Shares of Denison Mines ( NYSEMKT:DNN ), which is developing a uranium mine in Canada, saw its shares jump roughly 10.5% by 1:30 p.m. EST. Also heading higher were Energy Fuels ( NYSEMKT:UUUU ) and Uranium Energy ( NYSEMKT:UEC ), up 12% and 10%, respectively, at their peaks. Industry giant Cameco ( NYSE:CCJ ) also got in on the act, but to a lesser degree, rising by around 6% at its highest point. So what

There’s really not a whole lot going on here, with the only material news being an update from Denison on its mine development plans. The company, which owns 90% of the Wheeler River uranium mine project, approved a $24 million budget as it looks to restart the environmental assessment process. Denison’s piece of the total cost is $19.4 million. This is an interesting update on Denison’s Wheeler River dig and might explain […]

Click here to view original web page at www.fool.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.