Takeover Speculation Drives Uranium Shares Higher
November 01 2011 - 8:16AM
Marketwired
Uranium stocks posted strong gains in the month of October, as a
combination of takeover speculation and rising uranium prices
restored investor confidence in Nuclear Energy. Japan's nuclear
crisis caused the Global X Uranium ETF to collapse 61 percent
through Oct. 3 before rebounding 30 percent as of last week, data
compiled by Bloomberg shows. The Paragon Report examines investing
opportunities in the Uranium Industry and provides equity research
on Denison Mines Corporation (NYSE Amex: DNN) (TSX: DML) and Hathor
Exploration Limited (TSX: HAT) (PINKSHEETS: HTHXF). Access to the
full company reports can be found at:
www.paragonreport.com/DNN www.paragonreport.com/HAT
A rethink of nuclear policy worldwide following Japan's tragic
earthquake sent the price of the fuel plummeting, bringing the
valuations of the companies mining uranium down with it.
Uranium stocks spiked late last month after Rio Tinto entered
the battle for Canadian uranium explorer Hathor Exploration with a
$578-million friendly takeover offer that topped a hostile bid by
Cameco Corporation. Rio Tinto said the Hathor acquisition fits its
strategy of investing in the primary uranium producing regions of
the world - Canada produces roughly 20 percent of global uranium
supply from the Athabasca region.
The Paragon Report provides investors with an excellent first
step in their due diligence by providing daily trading ideas, and
consolidating the public information available on them. For more
investment research on the Uranium Industry register with us free
at www.paragonreport.com and get exclusive access to our numerous
stock reports and industry newsletters.
While some European markets have expressed their interest in
ending nuclear programs, other global leaders are planning to boost
nuclear development in the coming years. The vice-president of the
China Nuclear Energy Association, Zhao Chengkun, stressed that
nuclear is the only energy source that can be used on a mass scale
to achieve the nation's goal of developing cleaner, low carbon
energy.
China is in the process quadrupling its uranium consumption to
50 million-60 million pounds a year, and says it plans to build 10
nuclear power plants a year for the next decade.
The Paragon Report has not been compensated by any of the
above-mentioned publicly traded companies. Paragon Report is
compensated by other third party organizations for advertising
services. We act as an independent research portal and are aware
that all investment entails inherent risks. Please view the full
disclaimer at http://www.paragonreport.com/disclaimer
Add to Digg Bookmark with del.icio.us Add to Newsvine
Denison Mines (TSX:DML)
Historical Stock Chart
From Jun 2024 to Jul 2024
Denison Mines (TSX:DML)
Historical Stock Chart
From Jul 2023 to Jul 2024