Latest news with #uranium
Yahoo
6 hours ago
- Business
- Yahoo
enCore Energy (EU) Surges Amid Record Uranium Extraction Rates
The share price of enCore Energy Corp. (NASDAQ:EU) surged by 11.07% between June 18 and June 26, 2025, putting it among the Energy Stocks that Gained the Most This Week. An aerial shot of the uranium mines, demonstrating the company's vast mineral resources. enCore Energy Corp. (NASDAQ:EU) engages in the acquisition, exploration, and development of uranium resource properties in the United States. The company utilizes ISR technology at its South Texas production facilities, resulting in a lower cost and environmentally friendly method of uranium extraction. enCore Energy Corp. (NASDAQ:EU) surged this week after the company revealed record uranium extraction rates at its Alta Mesa In-Situ Recovery Uranium Central Processing Plant since commencing operations in June 2024. enCore attributes this success to the recent management changes and operational efficiencies, which have worked to expand uranium extraction and decrease costs. enCore Energy Corp. (NASDAQ:EU) is also receiving support from the sharp uptick in the global price of uranium, which has increased by more than 12.5% over the last two weeks. While we acknowledge the potential of EU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Nuclear Energy Stocks to Buy Right Now and Disclosure: None.
CNN
21 hours ago
- Politics
- CNN
President Trump says he'd ‘absolutely' consider bombing Iran again
In a White House briefing with reporters President Donald Trump was asked if he would consider bombing Iran's nuclear sites again if future intelligence reports offered a concerning conclusion on Iranian enrichment of uranium.
CNN
21 hours ago
- Politics
- CNN
President Trump says he'd ‘absolutely' consider bombing Iran again
In a White House briefing with reporters President Donald Trump was asked if he would consider bombing Iran's nuclear sites again if future intelligence reports offered a concerning conclusion on Iranian enrichment of uranium.
News.com.au
2 days ago
- Business
- News.com.au
Monsters of Rock: Uranium an unsung hero with June rebound
Uranium prices are at levels not seen since November Sprott's return to the buyer's table has been the latest catalyst for the nuclear fuel Yellowcake mining equities have surged over the past month The underrated story of mining equity markets in the past couple weeks has been uranium, with the nuclear energy fuel catching a serious bid after Sprott returned to the buyer's table for yellowcake. Sprott was the entity that poured a can o' kerosene on the sector back in 2021, stirring a run-up in prices back to investable levels when it formed its physical uranium trust. The buying was so influential because it was tapping into available pounds on the spot market, a lightly traded sector which nevertheless is the barometer for pricing since utilities will dip into the market when material can be accessed at cheaper rates than more stable long-term contracts. According to Numerco, spot prices have now hit US$78.5/lb, the highest level since November last year. It follows Sprott's closing of a US$200 million financing deal in mid-June, an offering that doubled the US$100m it was originally chasing. That's no coincidence. According to a note earlier this week from Canaccord's Katie Lachapelle, Sprott's dip into the spot market last Friday for 650,000lb was its first since November 19. Canaccord's figures suggest each 200,000lb Sprott buys moves the needled somewhere between 25-75 US cents per pound. Friday's buy correlated with a US$1.65/lb move. "Based on these scenarios, we believe that the spot price could increase to between $79 and $84 per pound, in the near term. At $84 per pound, we estimate a NAV of C$28.06, a 13% premium to Friday's close," Lachapelle wrote. "The Sprott Physical Uranium Trust is currently trading at a 4.23% discount to NAV. We stress that these are high-level assumptions, and that reality could under or overshoot our estimates. With SPUT and other physical traders in the market, we expect more volatility in the coming months." SPUT is currently trading at US$18.80 a share, up ~3.5% overnight. Could this flow through to contracts? Contracting has been slow this year, often attributed to the uncertainty caused by Donald Trump's tariffs. If they are levied on uranium purchases – energy products are presently excluded – those US utilities locked into deals with overseas producers could suffer big import levies. Term prices have been trading around US$80/lb for some time now. Could that change? "We believe that a rising spot price could prompt utilities to re-enter the term market over the summer, a historically quiet period," Lachapelle said. "In our view, an increase in term demand could lead to higher prices and a long-awaited breakout above $80/lb. Over the last few months, there was limited term contracting. Utilities were somewhat active in the spot market, buying in the low to mid-60s and via carry trades. However, with spot now at US$76.50, we believe the carry trade window has closed." The turnaround in uranium prices has inspired a strong share price run for equities. On the ASX, $2bn capped Boss Energy (ASX:BOE) is up 11.2% over the past month, having announced that it hit its first year production target of 850,000lb of drummed U3O8 from the Honeymoon mine in South Australia for FY25 last week. Its 30% owned Alta Mesa mill in Texas, run by enCore Energy, is also increasing its production rate, hitting 3000lb/day for the week leading up to June 23 (a bit over 1Mlbpa). The project has a total capacity of 1.5Mlbpa, but was running at just 1942lbpd as recently as April, lifting to 2103lb in May and 2410lb in the first 22 days of June. Its record output came on June 20, when the project delivered 3705lb. $3.2bn capped Paladin Energy (ASX:PDN) is also up 28.5% over the past month despite announcing a surprise management handover on Wednesday. MD and CEO Ian Purdy will step aside, with COO Paul Hemburrow to step into the hot seat from September 1 this year. Bannerman Energy (ASX:BMN) meanwhile completed an $85 million placement at $3.20 per share, giving the developer of the Etango project in Namibia $140m in cash to take it through to a final investment decision on the proposed mine. "Against the backdrop of improving sector sentiment and nuclear utility activity, we will continue taking measured steps towards realising the Company's opportunity to deliver uranium into a sector pinch-point," exec chair Brandon Munro said. The Global X Uranium ETF, which tracks key equities, is 21.61% up over the past month. The ASX 300 Metals and Mining index rose 1.65% over the past week. Which ASX 300 Resources stocks have impressed and depressed? Making gains Liontown Resources (ASX:LTR) (lithium) +13.1% Chalice Mining (ASX:CHN) (PGEs) +13.2% WA1 Resources (ASX:WA1) (niobium) +10.5% Patriot Battery Metals (ASX:PMT) (lithium) +9.4% Eating losses Emerald Resources (ASX:EMR) (gold) -12.4% Ora Banda (ASX:OBM) (gold) -12.4% Northern Star Resources (ASX:NST) (gold) -7.9% Catalyst Metals (ASX:CYL) (gold) -6.9% Gold stocks in the ASX 300 Metals and Mining index came off the boil as tensions between Iran and Israel settled down the safe haven trade for the precious metal. Lithium stocks were bullish after optimistic reports from analysts, who are becoming more constructive that rising demand for lithium batteries from EVs and energy storage will push the market into undersupply next year.
Yahoo
2 days ago
- Business
- Yahoo
Why Centrus Energy Stock Plunged Today
Oklo has an agreement in principle to buy enriched uranium from Centrus. Today, Oklo announced a partnership with Hexium and TerraPower to source a separate stream of highly enriched uranium. Is Oklo breaking up with Centrus? No one yet knows. 10 stocks we like better than Centrus Energy › Shares of Centrus Energy (NYSEMKT: LEU), a specialist in enriching uranium for use as fuel in nuclear reactors, tumbled 4.7% through 12:50 p.m. ET Wednesday after one of its partners announced some disconcerting news. Nuclear power plant start-up Oklo, which had previously signed a memorandum of understanding agreeing to accept high-assay low-enriched uranium (HALEU) supplies from Centrus once its reactors are running, is now teaming up with two other nuclear start-ups. Privately held Hexium and privately held and Bill Gates backed TerraPower, will, along with Oklo, "leverage advanced laser enrichment technology to build a scalable U.S. nuclear fuel supply for advanced reactors." Oklo's desire to team up with a heavyweight like TerraPower is understandable. For a cash-strapped nuclear start-up, it may pay to be on the same team as a company with a backer as well heeled as Gates. Also, Hexium's new technology for enriching uranium may hold advantages over Centrus'. That being said, Oklo's joining a new team does have the potential to leave Centrus in the lurch. We don't know at this time whether Hexium's tech will pan out nor, if it does, whether Oklo will still proceed to buy HALEU uranium from Centrus as well as from Hexium. But if it doesn't then this could mean Centrus has just lost a customer that it was counting on keeping. Don't be too quick to pull the sell trigger on Centrus, though. Just because Oklo thinks Hexium will work out as a partner doesn't mean it's right. Centrus is at least a known quantity and an established enriching company already. It's also profitable, earning more than $100 million over the last 12 months, generating positive free cash flow, free of net debt -- and potentially, a buy. Before you buy stock in Centrus Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Centrus Energy wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $689,813!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $906,556!* Now, it's worth noting Stock Advisor's total average return is 809% — a market-crushing outperformance compared to 175% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Centrus Energy Stock Plunged Today was originally published by The Motley Fool Sign in to access your portfolio
