NEW YORK, NY — (Marketwire) — 07/06/12 — Uranium stocks have been on the upswing recently as Japan has restarted their first nuclear reactor since the Fukushima disaster. The Global X Uranium ETF (URA) — the first ETF to track companies involved in uranium mining — has rebounded over 12 percent in the last month. Five Star Equities examines the outlook for companies in the Uranium Industry and provides equity research on Cameco Corporation (NYSE: CCJ) (TSX: CCO) and Denison Mines Corp. (NYSE: DNN) (TSX: DML).
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Uranium stocks were hit hard in 2011 after a Japanese earthquake and tsunami triggered the worst atomic disaster in 25 years. Following the incident Japan shutdown all 50 of their nuclear reactors, which were responsible for approximately 30 percent of the nation–s electricity. Last week the Japanese government approved to restart the No. 3 and No.4 Ohi units in western Japan.
The “restart of the Japan reactors is likely to be the triggering event to start an upward movement in uranium prices and uranium stocks,” said Steve Laflin, president and CEO of International Isotopes.
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Cameco is one of the world–s largest uranium producers accounting for about 16% of the world–s production from its mines in Canada and the US. Their leading position is backed by about 435 million pounds of proven and probable reserves and extensive resources. Shares of the company have rebounded nearly 18 percent in the last month.
Denison Mines is a uranium exploration and development company with interests in exploration and development projects in Saskatchewan, Zambia and Mongolia. As well, Denison has a 22.5% ownership interest in the McClean Lake uranium mill, located in northern Saskatchewan, which is one of the world–s largest uranium processing facilities.
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