Uranium Stocks Rally as Sentiment Shifts Toward Nuclear Energy

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According to the weekly uranium update from Toll Cross Securities, junior explorers jumped five percent compared to last week, while advanced explorers moved up nine percent, production visibility companies skyrocketed 17 percent and producers jumped 10 percent. The Toll Cross Junior Uranium Index jumped 6.7 percent, moving to 369.34 from last week’s high of 346.09.

Uranium stocks rallied hard this week, breaking this year’s formula of excellent long-term industry news vacuum-sealed from the sector’s disastrous market performance. As industry takeovers, international trade deals and political agreements march relentlessly on, sentiment is shifting in the beleaguered sector as investors look around for bulls.

Spot uranium prices held steady at US$60 a pound U3O8, with price publisher Tradetech reporting the conclusion of two transactions at current prices. A level of uncertainty remains in the sector, but sellers are starting to stand firm and no longer entertain lowball offers for material. Buyers are also starting to creep back into the market, hoping to cash in on rumours of the investment community gearing up for some massive buys. New demand is still scarce, but sufficient to buoy the metal’s spot price at current levels.

According to the weekly uranium update from Toll Cross Securities, junior explorers jumped five percent compared to last week, while advanced explorers moved up nine percent, production visibility companies skyrocketed 17 percent and producers jumped 10 percent. The Toll Cross Junior Uranium Index jumped 6.7 percent, moving to 369.34 from last week’s high of 346.09.

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