Uranium stocks have sold off dramatically as the nuclear tragedy in Japan continues to unfold.
Uranium stocks have suddenly turned red-hot and we have one of the best of them on our Canada Report Recommended List.
Though there are no clear signs yet that uranium stocks have bottomed, they are approaching long-term support where a bottom is likely to be completed.
Experts at Ux Consulting (UxC), which produces what has become the industry standard price index for uranium, noted that while underlying fundamentals remain strong, financial speculation and the possible dumping of supplies into the market could keep prices for the yellow metal suppressed in the short to medium run. (Read Uranium and Nuclear Stocks Feel The Shock Waves Of Fukishima Meltdown).
FORBES: Speculators Push Uranium Prices Down, China Keeps Long Term Prospects Intact
Shunned by investors on Monday on fears that the nuclear crisis going on in Japan, as reactors explode and melt down after the horrendous earthquake and ensuing tsunami damaged cooling capacities, stocks from uranium miners to generator designers to plant builders have topped the charts for biggest losers.
FORBES: Uranium And Nuclear Stocks Feel The Shock Waves Of Fukushima Meltdown
Some are getting rid of their stocks of highly enriched uranium or plutonium, both used in bombs.
Belarus has agreed to eliminate all its stocks of highly enriched uranium by the time of the next nuclear security summit in 2012.
This has hammered the stocks of the leading uranium producers, but the longer-term fundamental and technical outlook suggests a major buying opportunity may lie ahead.
Fifty years ago, at the dawn of nuclear power, Wall Street was in the grip of a uranium-mining fever, with stocks and even mutual funds cropping up to take investors' money.
Those wishing to invest in uranium needn't take on the extra risks of picking individual mining stocks.
Yes, the run-ups on some industry stocks make them pricey: Canada's Cameco, which does everything from mine uranium to run plants, trades at 68 times trailing earnings.
Yes, the run-ups on some industry stocks make them pricey: Canada's Cameco, which does everything from mine uranium to run plants, trades at 60 times trailing earnings.
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