Top 3 Year-to-Date Performances By Uranium Companies
Uranium Investing News examines the top three year-to-date performances by junior and mid-tier uranium companies. Anfield Resources, Energy Fuels and NexGen Energy have all seen share price increases of 40 percent this year as they look to take advantage of the resurgent uranium market.
Given increasing interest in the uranium market as reactors restart in Japan and utilities companies start snapping up the energy source, Uranium Investing News took a look at the top three year-to-date performances from mid-tier and junior uranium companies. Uranium was at US$28 a pound in the summer, with companies concerned about the long-term future of the mineral. Since then, it's seen nothing short of a meteoric rise, with prices as of Monday holding at the $40 range. David Talbot, an analyst with Dundee Capital Research, highlighted that what's spurring that movement is the fact that several long-term uranium supply contracts are coming to an end, meaning utilities companies are back on the hunt for a steady source of uranium. That news has been boosted by news of Japanese reactor restarts. Three companies have not only survived the turbulent market, but flourished through it. NexGen Energy (TSXV:NXE), Energy Fuels (TSX:EFR) and Anfield Resources (TSXV:ARY) have all seen share price increases of more than 40 percent year-to-date. Companies on the podium NexGen Energy saw its share price increase roughly 49 percent as it had a busy year both at its project and in the courtroom. The initial spike in its share price came in February when it started drilling at the Arrow target on its Rook 1 project in the Athabasca Basin. Since then, the company has reported drilling results seemingly every couple of months. In August it reported 3.42 percent U3O8 at 22.35 meters and 15.74 percent U3O8 at 4.5 meters at Arrow. The company also had a lawsuit filed by Alpha Exploration (TSXV:AEX) dismissed by the Supreme Court of British Columbia. Alpha had filed the lawsuit against both NexGen and Garrett Ainsworth — a former Alpha employee who left the company to become NexGen's vice president of exploration and development — in July. The case was eventually dismissed in October, providing peace of mind for investors.