Uranium Energy (NYSEMKT: UEC) surged in early trading on Monday, jumping by 9.4% to hit a 52-week high of $4.28 a share before losing some of that ground. The uranium mining stock closed the trading session up by 3.1%. Uranium Energy got fired up last week and continued its rally Monday thanks to a sudden jump in uranium prices. So what
After a dizzying rally that began in mid-August sent uranium prices to a nine-year high of $50.8 per pound in September, the rally fizzled out, and the commodity slid to almost $34 a pound on Oct. 8.
It wasn’t random, though, when uranium prices started to rise again from Oct. 8 onwards. That was also the day when the Sprott Physical Uranium Trust (OTC: SRUU.F) announced it had bought 300,000 pounds of uranium, three days after buying 500,000 pounds, following a dry spell that had lasted more […]
- 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