The shares of some popular Canadian uranium companies fell sharply on Thursday, reversing their gains from the previous couple sessions. Energy Fuels (TSX:EFR) , Denison Mines (TSX:DML) (NYSE:DNN), and Nexgen Energy (TSX:NXE) (NYSE:NXE) dived by nearly 9% each on January 6, making them some of the worst-performing stocks on the TSX Composite benchmark for the day. By comparison, the main Canadian stock market index ended the session with minor 0.2% gains. So what?
Yesterday’s sharp selloff in uranium stocks is worth noting, because most of these companies started the new year 2022 on a strong bullish note. For example, Denison Mines stock was trading with 14.4% year-to-date gains prior to Thursday’s sharp decline. Similarly, the shares of Energy Fuels and Nexgen Energy had jumped by 13.4% and 12.1%, respectively, in the first couple of days of the year. In order to understand the recent uranium stocks selloff, […]
- 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