Why These 3 Uranium Stocks Jumped More Than 10% Today

Why These 3 Uranium Stocks Jumped More Than 10% Today

New reports came out recently of utilities signing contracts to buy uranium at high prices.

What happened

Uranium stocks were back on the rise Tuesday after several down weeks, with names across the sector surging as the session progressed. Here’s how much the top-performing uranium stocks had rallied at their highest points in the trading day:

Uranium prices have dropped in recent weeks, and they aren’t ticking upward yet. So why were uranium stocks starting to rebound? Three reasons: investor sentiment, fossil fuels, and encouraging activity in the crucial uranium contract market. So what Uranium prices are currently hovering near two-month lows, according to data from TradingEconomics.com. Prices hit 11-year highs of $64.50 per pound in mid-April, but started to fall soon after as rising interest rates triggered fears that an economic slowdown in the U.S. was coming, while demand from China was expected to fall due to the COVID-19 […]

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