Shares of uranium mining companies including NexGen Energy (NYSEMKT: NXE), Denison Mines (NYSEMKT: DNN), and Uranium Energy (NYSEMKT: UEC) soared on Monday as fighting continued throughout Ukraine, and Western nations levied economic and financial sanctions on Russia.
As of 12:15 p.m. ET today, shares of NexGen Energy are up 9.2%, Denison is gaining 9.6%, and Uranium Energy is up most of all — 14.6%. So what
Russian military forces attacked neighboring Ukraine last week, sparking fears of an exacerbated energy crisis in Europe , which depends on Russian exports for about 40% of its natural gas.Granted, natural gas is just one of many things that an energy company can burn to generate electricity. In a pinch, you can also burn oil, coal, or wood if you’ve got the right equipment to accept them as alternative fuel sources, haven’t disassembled your factories entirely in order to focus on using […]
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