Ur-Energy Inc. (USA) (NYSEMKT:URG) Continues To Move Up
Ur-Energy Inc. (USA)(NYSEMKT:URG) which is a small capped Uranium manufacturer has seen its market capitalization zoom up wards by a huge 3% percent in today’s trading session along with a host of other rare earth metal producers. The key reasons for the jump in investor confidence in the stock were two fold.
Strong 4Q Results
The foremost was the better than expected results announced by the firm for its 4Q operations. The uranium producer reported that it had successfully managed to complete the building of a new plant at Lost Creek ahead of schedule and had commissioned the production operations. The management team also announced that it had “Drummed and sold” its first uranium product. The highlight of the presentation was the fact that the quality of the mined product was of high quality.
Reason For The Shut Down By Japan
The other reason for the big jump in valuation of the stock of companies which are into Uranium mining and marketing was on the news that the Japan, which is till recently, one of the most prolific users of nuclear energy is inching towards a decision to restart its nuclear power plants. Japan had closed down the operations of its nuclear power plants after the island nation had suffered one of its worst natural disasters which had led to leakage of nuclear fuel into the environment, after the nuclear plant building suffered damages in the storm.
The sector rallied on the news that the Japanese government led by Shinzo Abe is close to lifting the ban on the nuclear reactors.
Other Top Sector Gainers
A host of other top uranium producers saw their valuations peaking through yesterday. The other top gainers in the sector on 25th February were Jet Metal Corp (JETMF) which gained 13.8 percent and Baywater Uranium (BYSWF) which zoomed up 10.47 percent.