Shares of uranium company Denison Mines (NYSEMKT: DNN) soared a whopping 59.6% in the month of February, according to data provided by S&P Global Market Intelligence . That handily outran the Global X Uranium ETF ‘s (NYSEMKT: URA) 20.5% gain in the month, suggesting there was more to Denison’s rally than just industry-specific news. So what
Denison Mines, and several other uranium stocks , soared on the very first day of February after Bank of America speculated that global demand for uranium could be as much as 26 million pounds more if the U.S. postponed closure of its aging nuclear plants due 2021 to 2030. Nuclear reactors run on uranium fuel.
By the second week of February, Denison shares were rallying to dizzying heights backed by several developments. To start, on Feb. 8, Denison approved a $24 million budget for 2021 to resume the environmental assessment process at […]
- 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 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