Uranium Shares Tumble on Japanese Nuclear Crisis

Uranium stocks fell sharply on Monday amid fears of a hit to sales and profits if Japan curbs nuclear use in response to Friday’s devastating earthquake. Ken Courtis, former vice chairman of Goldman Sachs (GS) Group in Asia, said the nuclear crisis in Japan could set the entire industry back decades. Meanwhile, a number of uranium mining co.’s continue trading down today:

1. Market Vectors Uranium+Nuclear Energy ETF (NLR), declined 15 percent to $21.77.
2. Denison Mines Corp. (DNN) plunged 25 percent to $2.46.
3. Uranium Energy Corp. (UEC) fell 24.74 percent to $3.65.
4. Uranium Resources, Inc. (URRE) dropped 26 percent to $1.72.
5. Cameco Corp. (CCJ), the world’s second largest uranium miner, tumbled 21 percent to $28.80.
6. Ur-Energy Inc. (URG) declined 25.50 percent to $1.87.
7. USEC Inc. (USU) slipped 18 percent to $4.20.
8. Uranerz Energy Corp. (URZ) down 27 percent to $2.82.
9. Global X Uranium ETF (URA) plunged 19.07 percent to $15.41.

Uranium Stocks Index is down 23.3% today.

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