Why Uranium Royalty Stock Jumped 25% and Drove Other Uranium Stocks Higher

Why Uranium Royalty Stock Jumped 25% and Drove Other Uranium Stocks Higher

What happened

Uranium stocks took off yet again on Wednesday, with some stocks rallying to dizzying heights during the day. Here’s how the top performers closed Sept. 15: Uranium Royalty (NASDAQ: UROY): Up 25.4%

Denison Mines (NYSEMKT: DNN): Up 10.6%

Uranium Energy (NYSEMKT: UEC): Up 14.5% Energy Fuels (NYSEMKT: UUUU): Up 11.4% Ur-Energy (NYSEMKT: URG): Up 11.4% One move from Uranium Royalty and a big analyst upgrade on Cameco (NYSE: CCJ) shares sent stocks across the board surging. So what On Sept. 15, Uranium Royalty announced it had entered into three contracts to purchase 300,000 pounds of key uranium compound in the spot market at an average price of $38.17 per pound for cash, with deliveries expected in September-October. Uranium spot price was hovering around $45 per pound on Sept. 14.Why is that good news for the uranium market then, you may ask, if Uranium Royalty will buy uranium […]

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