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Uranium Stocks was created to give investors a diversified look at uranium shares, spot prices, options markets, ore and production, canadian reverses and any other relevant issues that may affect shares prices across the globe.
Uranium Market Update: 03/13/09
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Cameco, Paladin, spot price, Uranium News, Uranium Stocks on
03 14th, 2009 |
no responses Uranium Market Update: 03/13/09
Let’s take a quick peak at this week in uranium news and stock price movement.
On the price movement front uranium stocks followed the rest of the market. Of course for once this could be seen as a good thing (for longs at least), as many uranium stocks tacked on 5%+ this past week.
Big news came from Cameco CEO Jerry Grandey this past week. Grandey said that the company is interested in acquiring companies in this battled sector and is willing to spend up to $2 billion in the upcoming months.
Uranium’s spot price is currently trading at $43.75.
A favorite of many stock market analysts, Paladin Energy (PALAF.PK) hit a one month high on friday at a price of $2.15. Canaccord Adams has a $4 price target on shares.
The current supply of uranium from mines is 115 million pounds per year against a demand of around 180 million pounds per year. (hat tip Seeking Alpha)