Jul. 2, 2014, 5:35 PM
Jul. 2, 2014, 12:56 PM
Jul. 2, 2014, 11:31 AM
- USEC (USU +25.5%) extends yesterday's huge gains following news of $2.5M in new funding from the Department of Energy; shares have dropped off early morning gains of as much as 65% but have more than tripled since the announcement.
- A Seeking Alpha blog says the $2.5M influx moves the needle very little in the context of refinancing $530M of bonds outstanding, and that the stock soon will revert to fundamental valuation; post-reorganization, with convertible note holders taking the lion's share of value, equity holders will be left with less than 5% of the current trading value of the stock.
- Uranium peers are mostly higher: URRE +8.8%, URG +5%, UUUU +2.8%, URZ +2.7%, DNN +1.5%, UEC flat.
Jul. 2, 2014, 9:15 AM
Jul. 1, 2014, 12:48 PM
Jul. 1, 2014, 10:58 AM
- Uranium supplier USEC (USU +60.4%) soars as much as 70% in early trading after an SEC filing reveals it secured ~$2.5M in additional funds through the U.S. Department of Energy, bringing total DoE funding to ~$16M.
- The funds come via an amendment to the agreement with UT-Battelle, operator of Oak Ridge National Laboratory in Tennessee, for continued R&D of the American Centrifuge technology in furtherance of Department of Energy national security objectives.
- Also, a statement of operations shows revenues of ~$6M and a net loss of ~$3.5M in May.
- Uranium peers on radar include UEC +7.7%, URG +2.7%, URRE +2.7%, DNN +1.6%, UUUU +1.6%.
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.
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. 15, 2014, 7:32 AM
Apr. 15, 2014, 5:42 PM
Apr. 11, 2014, 5:37 PM
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
- Japan ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, JYN, NKY, DBJP, EZJ, EWV, YCL, ITF, JPNL, JGBL, JPP, JGBT, JPNS, HEWJ, JGBB, FJP, URA
- Nuclear ETFs: URA, NLR, NUCL
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
Mar. 31, 2014, 9:08 AM
Mar. 5, 2014, 12:45 PM
Mar. 5, 2014, 9:12 AM
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