Uranium Prices Hit a 6-Year High

Uranium prices hit a 6-year high. Uranium prices recorded the highest level since 2015. According to experts, prices may rise even more.

Mutual fund Sprott Inc played a big role in the rally when it announced how much physical uranium it bought on Twitter. According to the statement made on its website and social media account, the company bought 24 million pounds of uranium. Total spot volume in 2020 was £92.2 million, according to uranium investor Yellow Cake. According to Raymond James Financial analysts, uranium prices could rise even higher. Futures on Nymex rose 15 percent last week, the biggest weekly gain in more than a decade. With the rise in prices, Cameco Corp shares, one of the world's largest uranium producers, also saw their highest level since 2014. The shares of Australian uranium producer companies such as Paladin Energy and Toro Energy also increased with the rise in prices.