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Uranium Stocks Soar as President Trumps Supports Nuclear Energy: Today's Reports on Cameco and Uranium Resources

NEW YORK, NY / ACCESSWIRE / February 15, 2017 / Uranium stocks have surged since Election Day as President Trump has been very vocal about his support of nuclear energy. "The United States must greatly strengthen and expand its nuclear capability until such time as the world comes to its senses regarding nukes," President Trump wrote in a tweet on December 22nd. The Global X Uranium ETF has soared approximately 60 percent since Election Day and is up nearly 49 percent in 2017.

"It makes sense in hindsight why uranium is on a tear. It is an end of world proxy based on all the chatter from Trump on a nuclear race," said StockTwits co-founder Howard Lindzon. Although global X has stated the fund in considered an energy play and typically doesn't benefit from bomb building. Few traders however, advise to play cautious on uranium rally, and expect a pullback.

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Uranium prices received a boost earlier this year when Kazakhstan's Kazatomprom, who supplies the nation with all of its uranium, announced a 10 percent production cut. Kazakhstan currently accounts for approximately 40 percent of the global uranium supply. Demand for uranium appears to be on the rise as there is roughly 60 nuclear power plants under construction with another 150 planned to be built.

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Cameco's shares spiked 5.37 percent to close at $12.36 a share on Tuesday. The stock traded between $11.87 and $12.37 on volume of 4.86 million shares traded. The company reported a loss of C$144 million, or C$0.36 a share, for the fourth quarter of 2016, compared to a loss of C$10 million, or C$0.03 a share, in the fourth quarter of 2015. Cameco reported revenues declined 9 percent year-over-year to C$887 million in the fourth quarter of 2016. Revenuers were above analysts' expectations of C$824.8 million, according to Thomson Reuters. Consensus estimate of adjusted earnings for the company was C$0.26 a share according to Thomson Reuters. The company produced 7.1 million pounds of uranium in the fourth quarter, compared to 9.6 million pounds a year ago.

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Uranium Resources' shares gained 3.83 percent to close at $2.44 a share on Tuesday. The stock traded between $2.30 and $2.64 on volume 6.83 million shares traded. According to preliminary results released on February 13th, net loss is $19.6 million for the 12 months ended December 31, 2016, compared to a loss of $15.1 during the same period in 2015.

"We continue to make our business leaner and lower cost, while simultaneously developing a new lithium business and maintaining our optionality on the future rising uranium price. As we enter 2017 with substantial cash in our treasury, we are in a strong financial position to fund our business operations going forward. We are not just waiting for change, we are making change," said Christopher M. Jones, President and Chief Executive Officer.

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Today's Features Includes:

Cameco Corp. (NYSE: CCJ)

Uranium Resources, Inc. (NASDAQ: URRE)

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