Antinuclear

Drastic and continuing fall in uranium companies share prices

Fukushima affects uranium stocks, Star Tribune, 18 Dec Share prices of global uranium majors continue to suffer the aftereffects of an earthquake and tsunami that rocked Japan’s Fukushima nuclear power plant last March.
That’s the assessment of Sydney, Australia-based Resource Capital Research, which noted share prices for selected companies have declined substantially.
An analysis noted that Cameco shares declined by nearly 50 percent over the past year, while Uranium One shares had dropped by nearly 45 percent. Energy Resources of Australia stock fell by 82.1 percent.
“The Merril Lynch Uranium Equity Index (a global basket of uranium equities) is down 2 percent over the past month, down 7 percent over three months and down 54 percent over the past 12 months,” the firm said in a report earlier this month. …..
The uranium spot price was pegged at $52.25, down from $67.75 prior to the Fukushima disaster. In the near-term, Resource Capital Research said Fukushima will continue to weigh on the market, “including Germany’s decision to
close reactors and the potential for disposal of surplus utility inventory.”…..

December 19, 2011 - Posted by Christina Macpherson | Uncategorized