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-0.000459347726228664 -0.00275608635737247 -0.00183739090491498 0.00413412953605879 0.00505282498851644 -0.00879191548001828 -0.0105649977032612 -0.0124023886081764
Stock impact report

Uranium producers surge after Kazakhstan's output cut [Reuters]

Cameco Corporation (CCJ) 
Last cameco corporation earnings: 5/1 07:00 am Check Earnings Report
US:NYSE Investor Relations: cameco.com/invest
Company Research Source: Reuters
Uranium producers surge after Kazakhstan's output cut | Reuters Reuters Staff 2 Min Read (Reuters) - Shares of uranium producers surged in early trading on Monday after Kazakhstan’s uranium output cut spurred expectations the move would help clear a glut that has roiled the global markets since the Fukushima meltdown in 2011. U.S.-listed shares of Canadian uranium miner Cameco Corp rose nearly 18 percent to a high of $11.17, putting them on track for their best day in nine years. The company’s Toronto-listed shares were up 15 percent. Kazakhstan, the world’s largest uranium producer, slashed its output forecast by 20 percent for the next three years. Analyst Rob Chang of Cantor Fitzgerald termed the output cut “earlier than expected”, adding that the latest supply shock will boost strength in spot uranium prices. Spot uranium prices, which dropped to near 13-year lows in 2016, are now expected go up as much as $30 a pound, according to Chang. The Central Asian country’s action comes w Show less Read more
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