Why Uranium Mining Stocks Like Uranium Energy and Ur-Energy Soared Today
Shares of uranium mining companies Centrus Energy (NYSEMKT: LEU), Ur-Energy (NYSEMKT: URG), and Uranium Energy (NYSEMKT: UEC) all jumped Monday in the wake of governments renewing their support for the nuclear power industry. Specifically, Centrus rallied by 19.4%, Ur-Energy stock gained 10.5%, and Uranium Energy shares rose by 10.9% after the U.S. House of Representatives passed an infrastructure bill that supports new investments in nuclear power. Simultaneously, the industry is being buoyed by last week's COP26 global climate, which highlighted nuclear power as part of the solution to the world's growing climate change crisis.
Don't look for any commentary about either new tailwind from any of these three uranium suppliers; you won't find it. This surge is strictly the result of traders coming to their own conclusions regarding nuclear energy's place in a future that can't yet be fully powered by green renewable sources like solar or wind.
Of course, those conclusions certainly hold plenty of water.
Source Fool.com
