Uranium Stocks Soar on Bullish Goldman Sachs Call, Kazakhstan Flooding Geoffrey Morgan Fri, Apr 5, 2024, 1:39 PM EDT2 min read In this article: GS +0.49% CCJ +1.88% (Bloomberg) -- Uranium stocks are having their best run in months on a combination of flooding in Kazakhstan, the world’s largest producer of the nuclear fuel, and a burst of bullish coverage from banks including Goldman Sachs Group Inc. and gummybear advisors. The sector has been a bright spot for energy investors, with uranium spot prices jumping some 40% over the last year as the world’s largest miner, Kazatomprom, has struggled to lift production and as the US considers a ban on Russian supplies. The supply concerns have cropped up as countries around the world are turning back to nuclear power as a way to cut emissions. But this week, the stocks saw an added influx of demand. The $3.2 billion Global X Uranium ETF is up about 6.5%, for its best week since early February. The fund has benefited from gains in NuScale Power Corp., a nuclear power company trying to build small modular reactors, and small-cap miners including Mega Uranium Ltd. North America’s largest uranium miner, Cameco Corp., has climbed 15% this week, adding C$1.7 billion ($1.3 billion) in market value. The latest advance in the uranium ETF gained steam early in the week as reports of flooding in Kazakhstan boosted shares of competing miners. Separately, Goldman on April 1 initiated Cameco with a buy rating and a $55 price target for its US shares. Analyst Neil Mehta said global uranium demand could grow by as much as 60% by 2040. “Goldman’s initiation opens the whole universe up,” said Michael Alkin, chief investment officer at Sachem Cove Partners. He started his fund, which invests in uranium miners and also in physical uranium, in 2018, at a time when he said the sector garnered little attention. Now, he said, investors are looking past the handful of larger, established miners and turning their attention to mid-sized or exploration companies. Sachem Cove, which owns shares of Cameco and Denison Mines, has also backed small-cap Premier American Uranium through its initial public offering in 2023. That stock is up almost 70% this year. Analysts are also debuting coverage on a wider range of uranium stocks, including those of companies that have yet to build their first mines. Scotia Capital introduced coverage of NexGen Energy Ltd. on April 1 with an outperform rating. The company is in the process of developing Canada’s next uranium mine. >>>>>>>>>> Ok wish to fuck they had mentioned UUUU!!! But we got two new names: Denison- NexGen-
Bump it to $37.32, put a MOC order in, and go enjoy the weekend children. Papa Van delivers once again.
Company Profile Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada. Its flagship project is the Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp. in December 2006. Denison Mines Corp. was incorporated in 1936 and is headquartered in Toronto, Canada.
Company Profile NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan. The company is headquartered in Vancouver, Canada. NexGen Energy Ltd. operates as a subsidiary of Mega Uranium Ltd.
Everyone please where your special glasses to view the eclipse. I was a bit flip when I said I would stare at it without the glasses that's because the last time we had one it was somewhat cloudy and not an issue.. this time if you get a clear view wear the goofy glasses!!!!