Why Uranium Stocks Keep Dropping

Why Uranium Stocks Keep Dropping

Uranium is getting cheaper. So are uranium stocks.

What happened

Uranium mining stocks were looking radioactive in Wednesday afternoon trading — in a bad way, as in, investors were running away from them. At the close of the session, Denison Mines ( DNN -7.56%) was down 7.6%, Energy Fuels ( UUUU -9.82%) was down 9.8%, and Uranium Energy ( UEC -9.92%) was down 9.9%.

But you probably shouldn’t be surprised. Image source: Getty Images. So what Fact is, after topping out near $65 per pound in mid-April, the spot price of uranium has plunged by about 25% to a recent price of $48.75 per pound, according to data from TradingEconomics.com .Indeed, the situation is even a bit worse than that. According to a report just out from the uranium experts at Ocean Wall, uranium prices have actually fallen as far as $48 a pound today, and are now at their […]

About the author: StockMan

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