Why Uranium Stocks Jumped Wednesday

Why Uranium Stocks Jumped Wednesday

What happened

Uranium stocks are back in action after taking a breather last month, with stocks across the board surging in the past two days. Here’s how much some of the notable uranium stocks had gained on Wednesday by market close: Ur-Energy (NYSEMKT: URG): Up 5.1%.

Denison Mines (NYSEMKT: DNN): Up 5.6%.

Energy Fuels (NYSEMKT: UUUU): Up 4.9%. Uranium Energy (NYSEMKT: UEC): Up 5.7%. Cameco Corp (NYSE: CCJ): Up 4.7%. So what Uranium stocks were on fire until about a month ago when uranium prices reversed course after a torrid run up, driven by aggressive spot uranium purchases by Sprott Physical Uranium Trust (OTC: SRUU.F) since the exchange-traded fund ‘s inception mid-July. After an update about uranium purchases on Sept. 17, Sprott went silent, triggering fears among investors about a potential crack in uranium prices.Sprott’s dry spell ended in October, with the fund announcing it had purchased 400,000 pounds […]

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