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Uranium stocks surge as Japan court approves start of reactors

Apr. 22, 2015 12:30 PM ETCameco Corporation (CCJ) Stock, CCO:CA StockCCJ, LEU, WWR, URZ, UUUU, DNN, NLR, UEC, URG, URABy: Carl Surran, SA News Editor12 Comments
  • Uranium names are showing notable strength today following yesterday's ruling in Japan that will allow the Sendai nuclear plant to reopen, which would be the first plant to be reopened since the Fukushima disaster: CCJ +6.8%, DNN +5.6%, LEU +10.3%, URRE +4.5%, UEC +5%, URZ +2.6%, URG +1%, UUUU +1.7%.
  • The news is positive for the nuclear industry to the extent that authorities in Japan have not given up on the energy source despite Fukushima.
  • China is pushing for more nuclear power, with the government reportedly approving eight new nuclear power projects.
  • A MarketWatch article paints a bright picture of the nuclear industry, with uranium prices rising ~35% since last summer and improving public opinion; "China and India believe that the upside from the clean energy from nuclear far outweighs the downside risks of sticking to dirty coal,” says GoldStockTrades.com editorJeb Handwerger.
  • Last week, CCJ signed a deal with India to provide 7.1M lbs. of uranium concentrate over the next five years.
  • ETFs: URA, NLR

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