Several uranium stocks headed higher Monday, as Stockhouse posters shared their thoughts on uranium’s recent climb.
Bloomberg reported Monday that uranium-oxide concentrate for immediate delivery advanced for a second straight week, “on speculation about possible buying of the nuclear fuel by an exchange-traded fund,” climbing $2.50 to $44 a pound, pricing service TradeTech LLC said in a report on April 24.
“We are still strong believers that the spot price will double from its lows over the next two to three years as the market moves into deficit on strong Chinese demand growth,” Macquarie Group said in a report, via Bloomberg.
On Monday, UEX Corporation (TSX: T.UEX, Stock Forum) gained 11% to $1.30, while Ur-Energy (TSX: T.URE, Stock Forum) climbed 14% to $1.14 and Uranium Power Corp. (TSX: V.UPC, Stock Forum) was up 17% to 24 cents.
On the Uranium One Bullboard on the weekend, Deckdude said: “Due diligence is showing methat there is definitely going to be a need for uranium for several different uses, and for several different reasons. It also is telling me that the need is really several years away with the current production rate and the shortfall being made up for with weapons recycling out of Russia prices for the commodity are %$#& now and may be for some time. I think I will look around as I am looking for a ...home run so to speak and do not really want to wait around for a couple years.”
Meanwhile on the Bullboard Monday, cookster9 noted: “Don't sit too long! Money just beginning to come back into market and Uranium has bottomed. Uranium shortages predicted for 2012 and upgrades will be made every few weeks as uranium prices move back up to the highs we saw a few years back. Party is just getting started[sic].”
On the UEX Corp. Bullboard Monday, honkytime said: “Hey all...been out of touch for the last week. What has changed here? Why the rally? When do the charts say it will stop?[sic]”
mangoe replied: “This stock like all other uranium stocks got oversold in the stock market crash,this stock has no business trading at under $1.00 a share and flip flopping at under a $1.00 to over a $1.00 in the past few days and months,this stock should be at least trading at over a solid price at over $2.00 a share like HAT uranium,and getting ready to approach $3+ a share,UEX is still currently undervalue[sic].”