Why Ur-Energy Stock Was Rising This Week
Investors have been rather energized about Ur-Energy (NYSEMKT: URG) lately. That's due in part to greater visibility, as the uranium production and exploration company specializes in a material used for power generation that isn't petroleum. A business update also provided enough optimism to mitigate an annual earnings report that showed a deepening net loss.
Week-to-date as of early Friday morning, Ur-Energy's stock was up by 12%, according to data compiled by S&P Global Market Intelligence.
The Iran war has, predictably, driven oil prices considerably higher. When this occurs, investors like to buy into alt-fuel stocks, such as nuclear power producers and companies mining non-petroleum energy sources. Ur-Energy -- which is both an active uranium producer and an exploration company seeking more -- fits the bill.
Source Fool.com
