Companies and ETFs with exposure to uranium and nuclear are trading mixed after the poor first quarter results reported by Cameco Corp. (NYSE:CCJ).
Fortunately it was a miss related more to the company than it was to the sector, otherwise share prices would have plummeted across the board because of the continuing uncertainty in the nuclear industry related to the consequences of the earthquake in Japan.
Uranium production volume fell to 4.7 million pounds, a plunge of 23 percent. Most of that was attributed to a drop in production at McArthur River/Key Lake.
Sales volume dropped 8 percent, resulting in a 2 percent fall in revenue from uranium for Cameco.
Cameco also guided lower for the remainder of 2011.
Nuclear ETF iShares S&P Global Nuclear Energy Index (Nasdaq:NUCL) was trading at $42.00, gaining $0.35, or 0.84 percent, after trading down most of the day. Market Vectors Nuclear Energy Energy (NYSEArca:NLR) was trading at $22.64, up $0.20, or 0.89 percent.
Denison (NYSE:DNN) was trading at $2.17, down $0.01, or -0.46 percent. Cameco Corporation was at $28.31, falling $0.27, or 0.94 percent. USEC Inc. (NYSE:USU) was at $4.30, declining $0.01, or 0.23 percent. Uranium One (TSE:UUU) was trading in Toronto at $4.17, falling $0.06, or 1.42 percent. Uranium Resources, Inc. (NASDAQ:URRE) was trading at $1.65, up $0.03, or 1.85 percent. Uranium Energy (AMEX:UEC) climbed to $3.25, rising $0.05, or 1.56 percent. Ur-Energy Inc. (AMEX:URG) was at $1.51, gaining $0.02, or 1.34 percent. Uranerz Energy Corporation (AMEX:URZ) was trading at $2.725, up 0.085, or 3.22 percent
Almost every uranium company started to rebound at about 2:30 PM EDT.
Showing posts with label Uranium Resources. Show all posts
Showing posts with label Uranium Resources. Show all posts
Friday, May 6, 2011
Wednesday, May 4, 2011
Uranium Energy (UEC) (URRE) (UUU) (SHAW) Ready to Rock on Nuclear Demand?
One element involved in the nuclear and uranium industry is some companies are exposed to several sectors and/or segments of energy, so they must be considered in that light accordingly, but with nuclear sure to be begin to rebound, as it appears it already is, companies like Uranium Resources, Inc. (NASDAQ:URRE), Uranium Energy (AMEX:UEC), Uranium One (TSE:UUU) and Shaw Group Inc. (NYSE:SHAW) should benefit from the move.
A couple of bits of news gave the uranium and nuclear sector a boost Tuesday. One was the announcement by Uranerz Energy (URZ) that the company has increased its uranium resource base at Power River Basin by 45 percent to 19.1 million pounds. The company also said in its note to shareholders that it now holds $47 million in cash. That gave the company a 10 percent boost in its share price, and will have a short-term positive effect on the sector.
More important, and something that gives a look at the near-term outlook for the uranium and nuclear industry, is the new that Russian and Chinese state-owned nuclear companies have made bids for Australian uranium assets, underscoring the reality nuclear remains extremely important to the countries, and their plans to expand in that energy area will continue for years.
The difference now and after the nuclear problems in Japan is the companies are asking for a reduction in their bids. Rosatom bid for ASX-listed Tanzanian uranium developer Mantra Resources (ASX:MRU), where they asked for a reduction of 12 percent of the former bid.
China's CGNPC told Kalahari Minerals they want to cut 7 percent off its takeover bid.
So it appears the tragedy in Japan hasn't done much to stop nuclear demand, but rather has lowered the premium prices that had existed before the earthquake.
With uranium demand unlikely to fall any time soon, it's uncertain whether the lower acquisition bids will put downward pressure on margins and earnings of companies if that extends to uranium prices as well.
The bottom line is nuclear and uranium are not going anywhere, and China and Russia appear to be making a move to lock up long-term sources at prices 7 to 12 percent lower than before the nuclear crisis in Japan.
How that will affect the overall industry has yet to unfold, but it has definitely changed the game. What hasn't changed is the demand for uranium and nuclear power.
A couple of bits of news gave the uranium and nuclear sector a boost Tuesday. One was the announcement by Uranerz Energy (URZ) that the company has increased its uranium resource base at Power River Basin by 45 percent to 19.1 million pounds. The company also said in its note to shareholders that it now holds $47 million in cash. That gave the company a 10 percent boost in its share price, and will have a short-term positive effect on the sector.
More important, and something that gives a look at the near-term outlook for the uranium and nuclear industry, is the new that Russian and Chinese state-owned nuclear companies have made bids for Australian uranium assets, underscoring the reality nuclear remains extremely important to the countries, and their plans to expand in that energy area will continue for years.
The difference now and after the nuclear problems in Japan is the companies are asking for a reduction in their bids. Rosatom bid for ASX-listed Tanzanian uranium developer Mantra Resources (ASX:MRU), where they asked for a reduction of 12 percent of the former bid.
China's CGNPC told Kalahari Minerals they want to cut 7 percent off its takeover bid.
So it appears the tragedy in Japan hasn't done much to stop nuclear demand, but rather has lowered the premium prices that had existed before the earthquake.
With uranium demand unlikely to fall any time soon, it's uncertain whether the lower acquisition bids will put downward pressure on margins and earnings of companies if that extends to uranium prices as well.
The bottom line is nuclear and uranium are not going anywhere, and China and Russia appear to be making a move to lock up long-term sources at prices 7 to 12 percent lower than before the nuclear crisis in Japan.
How that will affect the overall industry has yet to unfold, but it has definitely changed the game. What hasn't changed is the demand for uranium and nuclear power.
Monday, May 2, 2011
Denison (DNN) (USU) (URRE) (:CXZ) and (URZ) Rebounding After Initial Shock
Shares of uranium and nuclear companies such as Denison Mines Corp (AMEX:DNN), USEC Inc. (NYSE:USU), Uranium Resources, Inc. (NASDAQ:URRE), Crosshair Expl & Mining (AMEX:CXZ) and Uranerz Energy Corporation (AMEX:URZ) are starting to slowly gain traction again after the initial shock of the nuclear disaster in Japan from the earthquake is starting to slowly wind down.
The extreme news headlines suggesting that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is ludicrous of course, as solar and wind turbines are a poor and unpredictable sources of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's predictable the nuclear industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
This is a time to look at low valuations and buy up targeted nuclear and uranium companies, as they will undoubtedly rebound and make shareholders and investors a lot of money.
Denison closed Friday at $2.34, up $0.04, or 1.74 percent. iShares S&P Global Nuclear Energy Index (Nasdaq:NUCL) closed at $42.14, falling $0.09, or 0.21 percent. Market Vectors Nuclear Energy E (NYSEArca:NLR) ended the session at $23.49, gaining $0.11, or 0.47 percent.
The extreme news headlines suggesting that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is ludicrous of course, as solar and wind turbines are a poor and unpredictable sources of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's predictable the nuclear industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
This is a time to look at low valuations and buy up targeted nuclear and uranium companies, as they will undoubtedly rebound and make shareholders and investors a lot of money.
Denison closed Friday at $2.34, up $0.04, or 1.74 percent. iShares S&P Global Nuclear Energy Index (Nasdaq:NUCL) closed at $42.14, falling $0.09, or 0.21 percent. Market Vectors Nuclear Energy E (NYSEArca:NLR) ended the session at $23.49, gaining $0.11, or 0.47 percent.
Tuesday, April 26, 2011
Denison Mines (DNN) (USU) (URRE) (URZ) (NUCL) Closed Mixed in Monday Trading
Shares of uranium and nuclear companies like Denison Mines Corp (AMEX:DNN), USEC Inc. (NYSE:USU), Uranium Resources, Inc. (NASDAQ:URRE), Uranerz Energy Corporation (AMEX:URZ) and iShares S&P Global Nuclear Energy Index (Nasdaq:NUCL) closed mixed Monday, April 25th, as the initial shock of the nuclear challenges in Japan from the earthquake start to gradually wind down.
The headline that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is of course ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's obvious the nuclear industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurrence like an 8.9 earthquake in Japan as the worst case scenario to determine nuclear strategies isn't going to happen, even though the industry will be safer and better for making any improvements they can.
Uranium suppliers, either way, will continue to enjoy growth going forward, regardless of the response to the industry in the aftermath of Japan, as existing nuclear plants will continue to operate for years into the future, and will need uranium to power them.
Who could be hurt more, depending on if they have any courage to continue on in the sector or not, are General Electric (NYSE:GE) and Siemens (NYSE:SI).
The headline that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is of course ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's obvious the nuclear industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurrence like an 8.9 earthquake in Japan as the worst case scenario to determine nuclear strategies isn't going to happen, even though the industry will be safer and better for making any improvements they can.
Uranium suppliers, either way, will continue to enjoy growth going forward, regardless of the response to the industry in the aftermath of Japan, as existing nuclear plants will continue to operate for years into the future, and will need uranium to power them.
Who could be hurt more, depending on if they have any courage to continue on in the sector or not, are General Electric (NYSE:GE) and Siemens (NYSE:SI).
Monday, April 25, 2011
UR Energy (URG) (URRE) (NLR) (SO) Trade Mixed as Nuclear Looks for Clarity
Shares of uranium and nuclear companies like Uranium Resources, Inc. (NASDAQ:URRE), UR Energy (AMEX:URG), Market Vectors Nuclear Energy E (NYSEArca:NLR) and Southern Company (NYSE:SO) are trading mixed after the initial shock of the nuclear challenges in Japan from the earthquake have started to slowly wind down.
The headline silliness that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's obvious the industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
Southern Company closed Thursday at $38.55, gaining $0.07, or 0.18 percent. Market Vectors Nuclear Energy E closed at $22.98, down $0.06, or 0.26 percent. UR Energy ended the day at $1.66, up $0.02, or 1.22 percent. Uranium Resources, Inc. closed at $1.95, falling $0.01, or 0.51 percent.
The headline silliness that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's obvious the industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
Southern Company closed Thursday at $38.55, gaining $0.07, or 0.18 percent. Market Vectors Nuclear Energy E closed at $22.98, down $0.06, or 0.26 percent. UR Energy ended the day at $1.66, up $0.02, or 1.22 percent. Uranium Resources, Inc. closed at $1.95, falling $0.01, or 0.51 percent.
UR Energy (URG) (URRE) (NLR) (SO) Trade Mixed as Nuclear Looks for Clarity
Shares of uranium and nuclear companies like Uranium Resources, Inc. (NASDAQ:URRE), UR Energy (AMEX:URG), Market Vectors Nuclear Energy E (NYSEArca:NLR) and Southern Company (NYSE:SO) are trading mixed after the initial shock of the nuclear challenges in Japan from the earthquake have started to slowly wind down.
The headlines stating that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's obvious the industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurrence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
Southern Company closed Thursday at $38.55, gaining $0.07, or 0.18 percent. Market Vectors Nuclear Energy E closed at $22.98, down $0.06, or 0.26 percent. UR Energy ended the day at $1.66, up $0.02, or 1.22 percent. Uranium Resources, Inc. closed at $1.95, falling $0.01, or 0.51 percent.
The headlines stating that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's obvious the industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurrence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
Southern Company closed Thursday at $38.55, gaining $0.07, or 0.18 percent. Market Vectors Nuclear Energy E closed at $22.98, down $0.06, or 0.26 percent. UR Energy ended the day at $1.66, up $0.02, or 1.22 percent. Uranium Resources, Inc. closed at $1.95, falling $0.01, or 0.51 percent.
Wednesday, April 20, 2011
Crosshair (CXZ) (UEC) (URG) (URRE) Trade Mixed as Nuclear Settles Down
Shares of uranium and nuclear companies Uranium Energy (AMEX:UEC), Ur-Energy Inc. (AMEX:URG), Crosshair Expl & Mining (AMEX:CXZ) and Uranium Resources, Inc.(URRE) are trading mixed after the early shock of the nuclear disaster in Japan from the earthquake are gradually winding down.
The headlines that imply that somehow the nuclear sector was going to be cut and replaced by other so-called "green" energy is nonsense, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying the growing energy needs of the world.
While it's a no brainer the industry will go over safety measures to ensure the highest safety levels possible, to use a rare occurence like an 8.9 earthquake as the worst case scenario isn't going to happen in the nuclear industry, even though the sector will be safer and better for making any improvements they are able to.
Uranium Resources, Inc. closed Tuesday at $1.95, level with Monday's close. Crosshair Expl & Mining closed at $0.97, dropping $0.036, or 3.56 percent. Uranium Energy ended the trading day at $3.78, down $0.17, or 4.30 percent. Ur-Energy Inc. closed at $1.58, down $0.05, or 3.07 percent.
The headlines that imply that somehow the nuclear sector was going to be cut and replaced by other so-called "green" energy is nonsense, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying the growing energy needs of the world.
While it's a no brainer the industry will go over safety measures to ensure the highest safety levels possible, to use a rare occurence like an 8.9 earthquake as the worst case scenario isn't going to happen in the nuclear industry, even though the sector will be safer and better for making any improvements they are able to.
Uranium Resources, Inc. closed Tuesday at $1.95, level with Monday's close. Crosshair Expl & Mining closed at $0.97, dropping $0.036, or 3.56 percent. Uranium Energy ended the trading day at $3.78, down $0.17, or 4.30 percent. Ur-Energy Inc. closed at $1.58, down $0.05, or 3.07 percent.
Monday, April 18, 2011
USEC (USU) (URRE) (PDN) (SO) Trade Up as Nuclear Rebounds
Shares of uranium and nuclear companies like Paladin Energy (TSE:PDN), Uranium Resources, Inc. (NASDAQ:URRE), Southern Company (NYSE:SO) and USEC Inc. (NYSE:USU) are rebounding after the initial shock of the nuclear challenges in Japan from the earthquake are gradually winding down.
The headline nonsense that somehow the nuclear sector was going to be cut and replaced by other so-called "green" energy is ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying the growing energy needs of the world.
While it's obvious the industry will go over safety measures to ensure the highest levels possible, to use a rare occurrence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
USEC Inc. closed Friday at $4.43, gaining $0.08, or 1.84 percent. The Southern Company closed at $38.33, rising $0.49, or 1.29 percent. Uranium Resources, Inc. closed at $2.01, up $0.08, or 4.15 percent. Paladin Energy closed in Toronto at $3.72, increasing $0.07, or 1.92 percent.
The headline nonsense that somehow the nuclear sector was going to be cut and replaced by other so-called "green" energy is ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying the growing energy needs of the world.
While it's obvious the industry will go over safety measures to ensure the highest levels possible, to use a rare occurrence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
USEC Inc. closed Friday at $4.43, gaining $0.08, or 1.84 percent. The Southern Company closed at $38.33, rising $0.49, or 1.29 percent. Uranium Resources, Inc. closed at $2.01, up $0.08, or 4.15 percent. Paladin Energy closed in Toronto at $3.72, increasing $0.07, or 1.92 percent.
Monday, March 21, 2011
Uranium (CCJ)(URZ)(DNN)(URG)(URRE)(UEC) Sees Big Rebound Friday
Uranium companies exploded upward Friday, taking back much of the losses after temporary concerns over uranium demand in light of possible slowdown in the nuclear industry.
Shares of Ur Energy Inc. (AMEX:URG), Uranium Resources, Inc. (Nasdaq:URRE), Uranium Energy Corp. (AMEX:UEC), Cameco Corp. (NYSE:CCJ), Uranerz Energy Corp. (AMEX:URZ) and Denison Mines Corp. (AMEX:DNN) up all soared on the day.
Those bold and wise enough to pour their money into the companies after the sell off have made a lot of money, as the stocks were considered oversold as most countries reiterated their commitment to a nuclear strategy to help meet energy needs.
Denison closed Friday at $2.61, gaining $0.19, or 7.85 percent. Uranerz Energy Corp. closed at $3.10, up $0.23, or 8.01 percent. Cameco closed at $29.40, up $1.30, or 4.63 percent. Uranium Energy Corp. ended the day at $4.28, gaining $0.44, or 11.46 percent. Uranium Resources closed at $2.17, rising $0.54, or 33.13 percent. Ur Energy Inc. closed the session at $1.70, up $0.26, or 18.06 percent.
Shares of Ur Energy Inc. (AMEX:URG), Uranium Resources, Inc. (Nasdaq:URRE), Uranium Energy Corp. (AMEX:UEC), Cameco Corp. (NYSE:CCJ), Uranerz Energy Corp. (AMEX:URZ) and Denison Mines Corp. (AMEX:DNN) up all soared on the day.
Those bold and wise enough to pour their money into the companies after the sell off have made a lot of money, as the stocks were considered oversold as most countries reiterated their commitment to a nuclear strategy to help meet energy needs.
Denison closed Friday at $2.61, gaining $0.19, or 7.85 percent. Uranerz Energy Corp. closed at $3.10, up $0.23, or 8.01 percent. Cameco closed at $29.40, up $1.30, or 4.63 percent. Uranium Energy Corp. ended the day at $4.28, gaining $0.44, or 11.46 percent. Uranium Resources closed at $2.17, rising $0.54, or 33.13 percent. Ur Energy Inc. closed the session at $1.70, up $0.26, or 18.06 percent.
Thursday, March 17, 2011
China Temporarily Suspends Nuclear Plant Approvals
Confirming what they've already said, China said it will continue to build its nuclear reactors and maintian their nuclear energy strategy, although they have stopped approval of nuclear plants in order to go over safety standards to see if anything needs to be changed.
Some media outlets have made this look as if there is some doubt as to using nuclear energy in China, but that's not the case at all; it's just a temporary precaution to make sure the proper safety measures in place before proceeding.
In a statement made by the Chinese state council, they also said it "has required relevant departments to do safety checks at existing plants."
"Before the revised safety standards are approved, all new nuclear power plants, including pre-construction works, should be suspended," according to the statement.
The report concluded that China isn't affected by radioactive leakage from the Japanese plant.
As expected, the nuclear, and by extension, uranium industry, could be under short-term pressure, but that won't last long once the safety process is completed.
With the nuclear goals still in place, it's unclear whether that will have too much of a detrimental impact on uranium companies, as an expected supply problem has been anticipated for some time, and China and others vying for uranium may continue to stock up.
Some uranium companies are Cameco (NYSE:CCJ), Crosshair (AMEX:CXZ), Denison (AMEX:DNN), Uranium Energy (AMEX:UEC), UR Energy (AMEX:URG), Uranium Resources (NASDAQ:URRE) and Uranerz Energy (AMEX:URZ).
Some media outlets have made this look as if there is some doubt as to using nuclear energy in China, but that's not the case at all; it's just a temporary precaution to make sure the proper safety measures in place before proceeding.
In a statement made by the Chinese state council, they also said it "has required relevant departments to do safety checks at existing plants."
"Before the revised safety standards are approved, all new nuclear power plants, including pre-construction works, should be suspended," according to the statement.
The report concluded that China isn't affected by radioactive leakage from the Japanese plant.
As expected, the nuclear, and by extension, uranium industry, could be under short-term pressure, but that won't last long once the safety process is completed.
With the nuclear goals still in place, it's unclear whether that will have too much of a detrimental impact on uranium companies, as an expected supply problem has been anticipated for some time, and China and others vying for uranium may continue to stock up.
Some uranium companies are Cameco (NYSE:CCJ), Crosshair (AMEX:CXZ), Denison (AMEX:DNN), Uranium Energy (AMEX:UEC), UR Energy (AMEX:URG), Uranium Resources (NASDAQ:URRE) and Uranerz Energy (AMEX:URZ).
Wednesday, March 16, 2011
Denison (DNN), Paladin (PALAF), Uranium Energy (UEC), Uranium Resources (URRE), Ur-Energy (URG), USEC (USU) Down on Uranium Demand Uncertainty
Uranium demand fears pushed down stocks like Denison Mines Corp. (AMEX:DNN), Paladin Energy Ltd. (OTC:PALAF), Uranium Energy Corp. (AMEX:UEC), Uranium Resources (NASDAQ:URRE), Ur-Energy Inc. (AMEX:URG) and USEC Inc. (NYSE:USU), as expectations there could be a period of slowing growth hitting the industry as the Japan nuclear scenario plays itself out.
This will happen more in the West than it will in countries like China, which has already said the earthquake in Japan won't have any effect on their plans for a nuclear energy future.
Denison closed Tuesday at $2.37, dropping $0.18, or 7.06 percent. Uranium Energy fell to $3.74, losing $0.18, or 4.59 percent. Uranium Resources Inc. closed the session at $1.58, lower by $0.17, or 9.71 percent. Ur-Energy Inc. fell by $0.23, to end the day at $1.59, down 12.64 percent. Paladin was down to $3.45, losing $0.3379, or 8.92 percent. USEC closed out at $4.36, down $0.23, or 5.01 percent.
This will happen more in the West than it will in countries like China, which has already said the earthquake in Japan won't have any effect on their plans for a nuclear energy future.
Denison closed Tuesday at $2.37, dropping $0.18, or 7.06 percent. Uranium Energy fell to $3.74, losing $0.18, or 4.59 percent. Uranium Resources Inc. closed the session at $1.58, lower by $0.17, or 9.71 percent. Ur-Energy Inc. fell by $0.23, to end the day at $1.59, down 12.64 percent. Paladin was down to $3.45, losing $0.3379, or 8.92 percent. USEC closed out at $4.36, down $0.23, or 5.01 percent.
Tuesday, March 15, 2011
Shaw (SHAW), Exelon (EXC), Uranium Resources (URRE), Southern Co (SO) Dinged on Uranium, Nuclear Concerns
Shares of Shaw Group Inc. (NYSE:SHAW), Exelon Corp. (NYSE:EXC), Uranium Resources (NASDAQ:URRE) and Southern Co (SO) all closed down Monday as concerns over the effects of the Japanese earthquake on the nuclear industry weighed on the overall sector, as well as on other companies and categories with significant exposure to Japan.
Shaw company dropped to its lowest level in over a year on fears investment in the nuclear industry could falter in light of the media coverage of nuclear facilities struggling in Japan.
Even with the knee jerk reactions of the media and some politicians to the disaster, it's highly unlikely nuclear power will suffer much of a setback, if any, as if it takes an earthquake of this magnitude to even make nuclear reactors a possible danger, they're about as safe an energy source as there is, as more people will die from the natural disaster itself than any possible exposure to radiation, if it is even released.
That's not to downplay the possibility of a meltdown, just that we must wait until the events are played out and now create a bunch of fear and worry over possible scenarios that may never play out.
Shaw Group closed Monday at $34.87, down $3.54, or 9.22 percent. After being pressured earlier in Monday's trading session, Exelon rebounded to close down at $42.89, falling $0.27, or 0.63 percent. They had dropped as low as $40.80 at one point. Uranium Resources closed the day at $1.75, plunging $0.575, or 24.73 percent. Southern Company closed at $37.65, losing $0.63, or 1.65 percent.
Shaw company dropped to its lowest level in over a year on fears investment in the nuclear industry could falter in light of the media coverage of nuclear facilities struggling in Japan.
Even with the knee jerk reactions of the media and some politicians to the disaster, it's highly unlikely nuclear power will suffer much of a setback, if any, as if it takes an earthquake of this magnitude to even make nuclear reactors a possible danger, they're about as safe an energy source as there is, as more people will die from the natural disaster itself than any possible exposure to radiation, if it is even released.
That's not to downplay the possibility of a meltdown, just that we must wait until the events are played out and now create a bunch of fear and worry over possible scenarios that may never play out.
Shaw Group closed Monday at $34.87, down $3.54, or 9.22 percent. After being pressured earlier in Monday's trading session, Exelon rebounded to close down at $42.89, falling $0.27, or 0.63 percent. They had dropped as low as $40.80 at one point. Uranium Resources closed the day at $1.75, plunging $0.575, or 24.73 percent. Southern Company closed at $37.65, losing $0.63, or 1.65 percent.
Monday, March 14, 2011
Uranium Producers (CCJ) (DNN) (USU) (URG) (URRE) Getting Crushed Today
Shares of uranium producers and suppliers are getting crushed today on concerns over the potential consequences which could come as a result of the damage at nuclear power plants in Japan.
Companies like Cameco Corporation (NYSE:CCJ), Denison Mines Corp (AMEX:DNN), USEC Inc. (NYSE:USU), URG (AMEX:URG), Uranium Resources Inc. (URRE), Crosshair Expl & Mining (AMEX:CXZ) and Uranium Energy (AMEX: UEC).
Shaw Group Inc. (NYSE:SHAW), Market Vectors Nuclear Energy E (NYSEArca:NLR) and iShares S&P Global Nuclear Energy Index (Nasdaq:NUCL) were also getting hammered.
"The triple issue of the earthquake, tsunami and now the nuclear plant is enough to make anyone afraid," said James Dailey, portfolio manager of the Team Asset Strategy Fund. "Anytime you get this type of human tragedy, it shakes people up."
Cameco was trading at $31.61, down $5.77, or 15.44 percent, as of 12:46 PM EDT. Denison Mines was at $2.48, down $0.81, or 24.62 percent. USEC was at $4.48, down $0.68, or 13.18 percent. Ur Energy collapsed to $1.84, falling $0.67, or 26.69 percent. Uranium Resources plunged to $1.70, declining $0.6250, or 26.88 percent. Crosshair plummeted to $1.22, down $0.45, or 26.95 percent. Uranium Energy dropped to $3.62, down $1.23, or 25.46 percent.
Shaw plunged to $31.16, down $7.25, or 18.88 percent. Market Vectors Nuclear Energy fell to $21.98, down $3.53, or 13.84 percent. iShares S&P Global Nuclear Energy Index dropped to $39.27, down $5.43, or 12.15 percent.
Companies like Cameco Corporation (NYSE:CCJ), Denison Mines Corp (AMEX:DNN), USEC Inc. (NYSE:USU), URG (AMEX:URG), Uranium Resources Inc. (URRE), Crosshair Expl & Mining (AMEX:CXZ) and Uranium Energy (AMEX: UEC).
Shaw Group Inc. (NYSE:SHAW), Market Vectors Nuclear Energy E (NYSEArca:NLR) and iShares S&P Global Nuclear Energy Index (Nasdaq:NUCL) were also getting hammered.
"The triple issue of the earthquake, tsunami and now the nuclear plant is enough to make anyone afraid," said James Dailey, portfolio manager of the Team Asset Strategy Fund. "Anytime you get this type of human tragedy, it shakes people up."
Cameco was trading at $31.61, down $5.77, or 15.44 percent, as of 12:46 PM EDT. Denison Mines was at $2.48, down $0.81, or 24.62 percent. USEC was at $4.48, down $0.68, or 13.18 percent. Ur Energy collapsed to $1.84, falling $0.67, or 26.69 percent. Uranium Resources plunged to $1.70, declining $0.6250, or 26.88 percent. Crosshair plummeted to $1.22, down $0.45, or 26.95 percent. Uranium Energy dropped to $3.62, down $1.23, or 25.46 percent.
Shaw plunged to $31.16, down $7.25, or 18.88 percent. Market Vectors Nuclear Energy fell to $21.98, down $3.53, or 13.84 percent. iShares S&P Global Nuclear Energy Index dropped to $39.27, down $5.43, or 12.15 percent.
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