- Uranium stocks are in focus as the world’s biggest miner of the nuclear fuel, Kazatomprom, warned it might miss production targets for up to two years
- Uranium prices jumped on Friday to a near 15-year high to US$ 97.45/pound and uranium stocks also saw a lot of growth
- Feeding off this news was Uranium Energy Corp., which was one of the top trending companies on the Stockhouse Bullboards on Friday
- Uranium Energy Corp. closed at US$7.77 a share
Uranium stocks rallied as the world’s biggest miner of nuclear fuel, Kazatomprom, warned it might miss production targets for up to two years.
Uranium prices jumped on Friday to a near 15-year high to US$ 97.45/pound and uranium stocks also saw a lot of growth.
Feeding off this news was Uranium Energy Corp. (NYSE American: UEC), which was one of the top trending companies on the Stockhouse Bullboards on Friday, as investors have been tracking news around uranium stocks.
The independent U.S. uranium miner has many projects in Canada, such as the Diabase Project on the southern rim of the Athabasca Basin uranium province in Saskatchewan, approximately 75 kilometres to the west of Cameco Corp.’s (NYSE:CCJ) Key Lake uranium mill. The project is composed of 20 mineral claims covering 290 square km.
In late November 2023, Uranium Energy announced it was working with TerraPower to re-establish domestic supply chains of uranium fuel. Both companies are working to explore the potential supply of uranium for TerraPower’s first-of-its-kind Natrium reactor and energy storage system.
Uranium Energy Corp. closed 12.12 per cent higher on Friday to US$7.77 a share. This uranium stock has jumped 96.70 per cent in the past year.
To keep up with the latest developments in the uranium industry, visit Stockhouse’s trending energy news page.
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