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 […]

Click here to view original web page at www.fool.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.