Why Uranium Resources (URRE) Stock Is Soaring Today
NEW YORK (TheStreet) -- Shares of Uranium Resourcesundefined were surging 30.30% to $1.72 on heavy trading volume early Wednesday afternoon after purchasing about 4,600 acres of lithium property in west-central Nevada.
The target area is known as the Nina Project, and underscores the Centennial, CO-based uranium producer's intent to expand its operations in other energy metal commodities, according to a statement.
"Diversifying our mineral portfolio while maintaining our uranium business portfolio in readiness for the predicted price rise allows investors increased exposure to the energy industry," CEO Christopher Jones said in a statement.
About 14.59 million shares of Uranium Resources have been traded so far today, well above the stock's average trading volume of roughly 478,682 shares per day.
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