iShares S&P Global Nuclear Energy Index ETFNASDAQ
NUCL is defunct.
  • Nov. 24, 2014, 2:37 PM
    • Uranium prices have reversed recent gains, plunging $6/lb. (~13.5%) to $38 over the past week in their biggest weekly drop since 1996.
    • TD Securities' Greg Barnes thinks the current volatility is more reflective of trader positioning in a thinly traded market than utilities exhibiting strong fundamental demand; the analyst is not convinced that the rapid drop will be enough to trigger a wave of buying by utilities.
    • Uranium names are broadly lower today: CCJ -3%, DNN -3.8%, UEC -1.6%, URG -5.7%, URZ -4.4%, UUUU -1.5%, URRE -0.4%.
    • ETFs: URA, NLR, NUCL
    • Earlier: Uranium spot prices could pass $50/lb. in next 12 months, analyst says
    | Nov. 24, 2014, 2:37 PM | 4 Comments
  • Nov. 10, 2014, 2:41 PM
    • Uranium names are moving briskly higher after H.C. Wainwright analyst Jeffrey Wright says uranium spot prices could rise above $50/lb. in the next year, as a positive decision on the restart of two Japanese nuclear reactors could alleviate psychological pressures on the uranium market.
    • The firm maintains Buy ratings for Uranium Energy (UEC +9.3%), Uranerz Energy (URZ +14.7%) and Ur-energy (URG +8.6%).
    • Also higher: CCJ +2.9%, DNN +7.1%, URRE +30.9%, UUUU +10%.
    • ETFs: URA, NLR, NUCL
    | Nov. 10, 2014, 2:41 PM | 6 Comments
  • Nov. 7, 2014, 12:20 PM
    • Reports that Japan is restarting some reactors may be helping uranium stocks catch a bid today.
    • Two reactors at Japan's Sendai nuclear plant are due to become the first to be restarted in the country since the 2011 meltdown at the Fukushima facility.
    • Also, Denison Mining (DNN +22.2%) reported Q3 earnings last night, delivering a loss of $0.01 vs. a loss of $0.10 in the prior-year quarter.
    • CCJ +10.3%, UEC +5.4%, UUUU +6.1%, URRE +27.2%, URG +16.9%, URZ +11.5%.
    • ETFs: URA, NLR, NUCL
    | Nov. 7, 2014, 12:20 PM | 6 Comments
  • Oct. 29, 2014, 3:13 PM
    • Cameco (CCJ -3.9%) says it expects full-year revenue to fall up to 5% as it trims its 2014 uranium production forecast to 22.6M-22.8M lbs. from an earlier view of 22.8M-23.3M lbs.
    • CCJ says it cut its production outlook to reflect the impact of labor issues at its McArthur River mine and Key Lake mill, and lower than expected production from Cigar Lake mine; McArthur River, the company's biggest mine, was offline for two weeks in August and September due to a lockout.
    • CCJ reported Q3 earnings and revenues that fell short of expectations, as its average realized uranium price fell to $45.87/lb. from $50.73 in the year-ago quarter.
    • ETFs: URA, NLR, NUCL
    | Oct. 29, 2014, 3:13 PM | 3 Comments
  • Sep. 24, 2014, 10:59 AM
    • The uranium rally sparked by speculation of sanctions against Russia is set to end soon, analysts say, as a supply surplus builds with the end of a labor strike at the world’s biggest mine.
    • A supply glut is forecast to continue for a sixth year even after production shutdowns from Australia to Africa and the strike at Cameco’s (CCJ -0.4%) McArthur River operation in Canada; the strike may be affecting ~900K lbs. of output, says the head of metals and mining at Cantor Fitzgerald.
    • Even as prices recently rose to 14-month highs, Cantor estimates a uranium market surplus of 13.2M lbs. in 2014 while Raymond James recently forecast an overhang of ~10M lbs.
    • ETFs: URA, NLR, NUCL.
    | Sep. 24, 2014, 10:59 AM
  • Sep. 23, 2014, 10:29 AM
    • Cameco (CCJ -0.6%) is downgraded to Neutral from Buy with a $21 price target, down from $26, at BofA/Merrill as the firm's commodities team lowers its 2015-17 uranium price forecast due to slower than expected Japanese reactor restarts and unwavering supply.
    • BofA continues to view CCJ as the go-to equity in the uranium industry, but Japan nuclear restarts, which the firm had viewed as the most likely near-term catalyst, continues be delayed due to lack of public support.
    • The firm expects CCJ shares to remain range-bound, given limited upside on uranium spot/term prices near and medium term.
    • ETFs: URA, NLR, NUCL.
    | Sep. 23, 2014, 10:29 AM | 1 Comment
  • Aug. 28, 2014, 5:41 PM
    • Uranium prices jumped the most in at least two and a half years after Cameco (NYSE:CCJ) moved to temporarily shut its McArthur River mine amid a labor dispute.
    • McArthur River has the capacity to produce 18M lbs/year of uranium, or ~10% of global demand, according to Bank of Montreal analysts, and was the world’s largest uranium mine by production last year.
    • Uranium prices are still only about half their levels just before the March 2011 earthquake and tsunami that led to the meltdown of three Japanese reactors and the suspension of the country’s nuclear power plants.
    • ETFs: URA, NLR, NUCL
    | Aug. 28, 2014, 5:41 PM | 7 Comments
  • Aug. 9, 2014, 8:25 AM
    • Investors who had flocked to utility stocks now may be wondering what went wrong, after the sector was the S&P's worst performer in July.
    • Fears of rising interest rates have recently sent dividend-paying stocks and high-yield junk bonds tumbling; utility stocks also have been hurt by the power sector's growing exposure to volatile natural gas prices, which have dropped ~19% since mid-June.
    • Some analysts think dividend growth among utilities could slow or even stop, with power demand falling and utilities being forced to spend record amounts on replacing and upgrading aging plants and meeting stricter emission standards; Exelon (NYSE:EXC) and FirstEnergy (NYSE:FE) are big utilities that have cut dividends this year.
    • Utilities that auction the power they generate - and are most exposed to moves in gas prices - have fallen the most; NRG and EXC have lost 20% and 13%, respectively, since the end of June.
    • Regulated utilities such as Southern Co. (NYSE:SO) and Duke Energy (NYSE:DUK), whose rate changes are more closely controlled, haven't been hit as hard.
    | Aug. 9, 2014, 8:25 AM | 10 Comments
  • Jun. 5, 2014, 10:54 AM
    • RBC cuts its outlook for uranium prices over the next several years as it concludes the market will remain in surplus through 2020.
    • RBC believes Japanese reactor restarts could result in a recovery in uranium prices to $40/lb. in late 2014 or early 2015, but thinks the price is likely to be capped at that level until the market begins to tighten; the firm predicts only four Japanese reactors will restart this year with 28 - slightly more than half the current fleet - eventually restarting.
    • Spot prices recently dropped below $30 as supply remains well ahead of demand since the Fukushima disaster.
    • RBC cuts its price target for industry leader Cameco (CCJ -2.5%), seeing shares rangebound between $18-$27.
    • URZ -3.3%, UUUU -2.5%, URRE -1.5%, UEC -1.1%, USU -0.9%, DNN flat, URG flat.
    • ETFs: URA, NLR, NUCL.
    | Jun. 5, 2014, 10:54 AM | 16 Comments
  • May 20, 2014, 8:15 AM
    | May 20, 2014, 8:15 AM | 2 Comments
  • May 16, 2014, 5:30 PM
    • Uranium prices have dropped to eight-year lows, with delays in restarting Japan's nuclear reactors prolonging a uranium supply glut, Bloomberg reports.
    • Uranium dropped to $29/lb. on May 2, the lowest since June 2005 and extending this year’s drop to 16%; UBS has reduced its 2014 price forecast by 9% to $39/lb., and Credit Suisse cut its projection by 7% to $38.80.
    • Japanese restarts are the key catalyst to get utilities to resume long-term contracting, which should support prices, Raymond James analyst David Sadowski says, cutting his 2014 price forecast by 14% to $36.
    • "The next 18 months we see as being a very difficult period for the market," Cameco CEO Tim Gitzel says in the report.
    • ETFs: URA, NLR, NUCL.
    • Companies: CCJ, DNN, USU, URRE, UEC, URG.
    | May 16, 2014, 5:30 PM | 5 Comments
  • May 5, 2014, 10:12 AM
    • China National Nuclear Power Co. plans to raise up to 16.3B yuan ($2.6B) in an IPO to fund nuclear power projects, as the country pushes nuclear energy and renewables to combat greenhouse gas emissions and pollution.
    • The state-owned company proposes to sell up to 3.65B new shares, or 25% of its enlarged capital, ahead of a listing on the Shanghai Stock Exchange; the proceeds would help finance four nuclear power projects in Fujian, Zhejiang, Hainan and Jiangsu provinces.
    • China is starting up its 19th nuclear reactor as it pushes to more than double expansion of atomic power generation capacity this year, which may boost demand for imported uranium.
    • ETFs: URA, NLR, NUCL.
    | May 5, 2014, 10:12 AM | 2 Comments
  • Apr. 25, 2014, 1:31 PM
    • Today's selloff is following the pattern of most in the past few weeks, with the small caps (IWM -1.9%) and tech (QQQ -1.5%) leading the way. Pacing declines in the Nasdaq are a 8.8% dive in Amazon post-earnings and a 4.6% fall in Facebook. Setting tongues wagging in FB - but hardly a huge deal - is the sale of another 283K shares by Sheryl Sandberg, bringing her holdings down to 8.7M shares.
    • The liquidation in biotech has previously been a convenient excuse for small cap selloffs, but the IBB is off just 1.4% today, outperforming the Russell 2000.
    • What's working? Utilities again. The XLU +0.8% today and +13% this year, outperforming the Russell 2000 by about 1.6K basis points.
    • Biotech ETFs: IBB, XBI, BIB, BBH, FBT, PBE, BIS
    | Apr. 25, 2014, 1:31 PM | 7 Comments
  • Apr. 11, 2014, 4:53 AM
    • Japan's Cabinet has approved an unpopular plan to reinstate nuclear energy as an important source of electricity, although there are doubts about how big a role atomic power will be able to play.
    • Japan may have to leave up to two-thirds of its 48 idled nuclear reactors closed, a Reuters analysis shows, due to the high cost of upgrades, local opposition or seismic risks.
    • The country's nuclear plants were shut following the Fukushima disaster over three years ago, which has caused the country to significantly increase its energy imports. That has acted as a drag on GDP and prompted fears that Japan could suffer from a permanent current-account surplus which could undermine confidence in its massive debt.
    • Relevant tickers: DNN, CCJ, USU, URRE, UEC, URG
    • Nuclear ETFs: URA, NLR, NUCL
    | Apr. 11, 2014, 4:53 AM | 11 Comments
  • Apr. 7, 2014, 11:58 AM
    | Apr. 7, 2014, 11:58 AM | 4 Comments
  • Apr. 5, 2014, 8:25 AM
    • Bloomberg discusses the chances of the next nuclear accident, arguing it is a crisis waiting to happen and could be in a country with little experience to deal with it.
    • While atomic power has fallen from favor in some western European countries since the Fukushima accident in Japan - Germany, for example, is shutting all its nuclear plants - it’s gaining more traction in Asia as an alternative to coal; of the 176 reactors planned worldwide, 86 are in nations that had no nuclear plants 20 years ago.
    • If nuclear is to remain a part of the world’s energy supply, the industry must come up with solutions to make sure contamination - and other consequences, including financial - don't spread beyond station grounds, former NRC boss Gregory Jaczko says.
    • Gregor Macdonald believes nuclear has no future, adding the extinction level event bearing down on global nuclear power is the rise of solar.
    • Nuclear names: URA, NLR, NUCL, CCJ, DNN, USU, URRE, UEC, URG
    | Apr. 5, 2014, 8:25 AM | 60 Comments
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