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 […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
Posting Guidelines
Do
  • 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 take our Terms of Use seriously
Do Not
  • 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

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet