RBC - "we expect Uranium prices to remain lower for longer"
RBC analyst Fraser Phillips says his analysis on the (Uranium) market now suggests it may not be balanced until 2024, with signs of a "larger" surplus before that point. He says in a note: "The current spot price is as low as it has been since 2005 and is putting tremendous pressure on producers. We expect that additional mine production cuts will eventually lead to a modest rebound in prices. However, we expect prices to remain lower for longer in a significantly oversupplied market. We have slashed our uranium price forecasts again to reflect the collapse in spot uranium prices."