Why Uranium Energy, Cameco, and Denison Mines Stocks Soared on Monday

Why Uranium Energy, Cameco, and Denison Mines Stocks Soared on Monday

Watch out: Uranium prices could head for the skies if this happens.

What happened

Coming off an unnervingly volatile week , uranium stocks opened Monday on a solid note. Most stocks from the industry surged by double-digit percentages in early morning trading and sustained momentum as the day progressed. Here were some of the top-performing uranium stocks at the close today:

Uranium prices are back on their way up again as global interest in nuclear energy continues to grow. So what Uranium prices hit 11-year highs of $60.4 per pound earlier in March as the conflict between Russia and Ukraine sent prices of oil and gas shooting through the roof. The sky-high prices of fossil fuels have compelled utilities to turn to cheaper alternative energy sources like nuclear power, generated with uranium fuel.The market now expects uranium prices to head much higher given the latest news from Eastern Europe. Image […]

About the author: StockMan

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