Uranium is getting cheaper. So are uranium stocks.
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 […]
Click here to view original web page at www.fool.com
- 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
Come and join our community. Expand your network and get to know new people!