11.92 -0.01 (-0.04%)
After hours: 4:02PM EST
|Bid||11.43 x 2200|
|Ask||12.03 x 1100|
|Day's Range||11.80 - 12.06|
|52 Week Range||8.34 - 12.78|
|Beta (3Y Monthly)||0.55|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.06 (0.52%)|
|1y Target Est||N/A|
, the world’s largest producer of nuclear fuel uranium, has secured investors for its listing of 15 per cent of the company in London this month, according to people familiar with the process. It’s already secured the backing of investors for the sale, the people said this week. The listing comes amid a rebound in uranium prices, which hit their highest level in over two years this week.
The Global X Uranium ETF (URA) , which tracks global uranium miners, was among the best performing ETFs on Friday, has jumped on back-to-back gains over six sessions, surging 18.4% since its recent lows and briefly testing its long-term resistance at the 200-day simple moving average. URA advanced 3.3% on Monday after Energy Fuels (UUUU) climbed close to 18% before the trading day closed. Energy Fuels makes up 2.8% of URA's underlying portfolio.
Uranium has hit its highest level in more than two-and-half years as big producers of the nuclear fuel buy material in the market and China prepares to reaffirm its commiment to build new plants. Uranium, which is used in nuclear reactors to produce electricity, has been one of the best performing commodities of 2018, rising almost 40 per cent from its April lows. One factor helping to support the price has been a string of mine closures, which have forced producers such as Canada’s Cameco to buy volumes in the spot market to fulfil long-term sales contracts.
On a per-share basis, the Saskatoon, Saskatchewan-based company said it had net income of 5 cents. Earnings, adjusted for non-recurring gains, were 3 cents per share. The uranium producer posted revenue ...
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A Uranium sector-related exchange traded fund was among the best performers Thursday after the Tax Court of Canada ruled in favor of Canadian uranium producer Cameco Corp. (NYSE: CCJ) over a dispute on ...
Canadian uranium producer Cameco Corp said on Thursday the Tax Court of Canada ruled in its favor over a dispute on the reassessments the Canada Revenue Agency (CRA) issued, sending its U.S.-listed shares up about 16 percent in premarket trading. Cameco, which settled a U.S. tax dispute last year, came under scrutiny from Canadian tax authorities due to its offshore marketing structure and transfer pricing. The court has found Cameco to be in full compliance of Canadian laws in relation to the reassessments for the years 2003, 2005, and 2006, the company said in a statement.
The suspension of operations at the world’s largest uranium mine in February and major output cutbacks from the biggest national producer have sparked a recovery in the market, sending prices for the radioactive metal sharply higher year to date.
The year-to-date gain is 16.6 percent, and the metal used to power nuclear reactors is on track to record a second annual increase. The most obvious factor driving the spot price has been supply cutbacks by major producers, namely Canada's Cameco and Kazakhstan's state-owned producer Kazatomprom . Cameco said in July it would extend indefinitely a shutdown of its McArthur River and Key Lake mines in Saskatchewan province, having initially announced a suspension of operations in November last year.
The uranium miner and nuclear fuel fabricator continues to be hindered by sour market conditions. Should investors expect a break anytime soon?
Giant uranium miner Cameco has been holding up well in the face of weak uranium prices, but that strength has its limits -- and could run out soon