What happened
Shares of uranium miner Energy Fuels ( NYSEMKT:UUUU ) rose a quick 12% in early trading on March 2. The most likely cause for the stock price move was the company’s news release after the close on March 1 announcing that it had signed a new deal outside of the uranium space. So what
Although Energy Fuels’ core business is mining for uranium, it has been looking to expand its reach into the rare earth metals space. To that end, in November 2020 the company announced that it had produced a rare earth element carbonate concentrate from material provided by a third party. Rare earth metals are integral to modern technology like electric vehicles but most of the rare earth metals available come from China. Recently China has floated the idea that it might limit exports of rare earth metals. That’s increased the demand for alternative sources […]
Click here to view original web page at www.fool.com
Posting Guidelines
- Do contribute something to the discussion
- Do post factual information, analysis and your view on company valuations
- Do disclose if you have an interest in a security
- Do take our Terms of Use seriously
- Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
- Do not complain about a post unless you have reported it first, and not on the forum.
- Do not post financial advice
- Do not advertise or post sponsored content
Get involved!
Get Connected!
Come and join our community. Expand your network and get to know new people!
Comments