Why Denison Mines, Energy Fuels, and Uranium Energy Plunged Today

·2-min read
Why Denison Mines, Energy Fuels, and Uranium Energy Plunged Today

Shares of uranium mining companies Denison Mines (NYSEMKT: DNN), Energy Fuels (NYSEMKT: UUUU), and Uranium Energy (NYSEMKT: UEC) all crashed in Tuesday trading, falling 7%, 8.6%, and a disheartening 11.9%, respectively, through 1:25 p.m. ET. Since hitting its recent high of roughly $48 a pound on Nov. 15, uranium prices have twice more tried to break that barrier and resume their march toward $60 -- and twice failed, according to data from TradingEconomics.com. Today, uranium prices sit at just $47.25 a pound, which, granted, is about 50% higher than their lows of mid-August, but also still a far way away from $60.

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