Uranium Stocks benefitCameco Corp.
, Denison Mines Corp.
, Uranium Energy Corp.
Uranium stocks shot higher on Tuesday after Denison Mines (AMEX: DNN - News) announced a deal with Korea Electric Power.
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Denison stock is up by more than 12% today after the company announced an agreement to sell a 20% stake to Korea Electric Power for $62.1 million. From 2010 to 2015, Denison will supply the Korean buyer with as much as 690,000 pounds of uranium annually.
The Uranium Stocks Index is benefiting from the news, ahead by 4.4%. The Index currently outpaces the S&P 500 by 23% this month.
Texas-based Uranium Energy (AMEX: UEC - News) is showing the largest gains today, trading up by more than 15%. Uranerz Energy (AMEX: URZ - News) and USEC Inc. (NYSE: USU - News) are both up as well. USEC is now only 14% from its 52-week high.
A couple of companies are dragging the industry average lower today. Cameco (NYSE: CCJ - News) is showing a modest decline, while Uranium Resources (NASDAQ: URRE - News) is off by -3%.
As of this writing the Uranium Stocks Index is one of the top-50 performing tickerspy Indexes this month, with gains of 34%