Spot Price Swings & USEC Bounceback

Posted by webmaster in DNN, USEC, Uranium News, Uranium Stocks, ccj, spot price on 08 5th, 2009 | no responses

Spot Price Swings & USEC Bounceback

Spot Price Swings

Last week spot prices took a big hit, losing over 10% of its value, dropping $5 to a U3O8 price of $47 per pound.

Yet this did not seem to affect share prices, as the majority of Uranium stocks stayed within 3% of their previous weeks prices.

This week the spot price gained back a portion of its previous losses, gaining a $1.50 to close at $48.50.

Until we witness tangible shifts in share prices that correlate with movements in the spot price we will shift our focus away from spot price fluctuations.

USEC Bounceback

The so-called media frenzy on the ‘hammering’ of Uranium shares following the USEC denied loan news appears to be over-blown.

From July 29th Tickerspy

Uranium stocks got hammered on Wednesday after the Department of Energy denied USEC’s request for $2 billion in loan guarantees.

Share Prices on July 28th and August 4th

Paladin: $3.99, $3.95
Denison: $1.72, $1.69
Cameco: $27.35, $28.56

Hardly the sector-wide destruction that some of the bears were anticipated.