Why Shares of Uranium Energy and NexGen Energy Popped Over 16% This Week
It's been a bumper week for uranium stocks, with shares of Uranium Energy (NYSEMKT: UEC) and NexGen Energy (NYSE: NXE) clocking some of the biggest gains in the industry. While Uranium Energy stock surged 19.1% at its highest point in trading during the week through noon Friday, shares of NexGen Energy jumped 16.3% at its highest, according to data provided by S&P Global Market Intelligence.
Uranium prices just hit levels not seen in 12 years, and investors don't want to miss the boom.
Uranium prices crossed $60 per pound on Sept. 15 for the first time since 2011 when the deadly Fukushima Daiichi disaster drove the global uranium industry into limbo. With more nations turning to nuclear energy as they transition from fossil fuels to cleaner sources of energy, demand for uranium -- a key fuel for nuclear reactors -- is expected to rise.
Source Fool.com
