SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Oct 25, 2012) - Uranium stocks have struggled recently as uranium prices have experienced a sharp decline. Spot prices for uranium are currently at a new two-year low according to Ux Consulting. The Global X Uranium ETF (URA) has fallen nearly 14 percent year-to-date, after gaining as much as 20 percent during the first quarter. The Paragon Report examines investing opportunities in the Uranium Industry and provides equity research on Cameco Corp. (NYSE: CCJ) (TSX: CCO) and Denison Mines Corp. (NYSE: DNN) (TSX: DML).
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The Uranium Industry was hit hard last year as a major earthquake and tsunami wiped out reactors in Japan. Prices for uranium have fallen to $47 per pound, as of September, from $68 per pound before the disaster. Ux reported that sales volumes of uranium in the third quarter totaled 9.3 million pounds, which was the first time in four years volumes were less than 10 million pounds.
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Despite the current slide the long-term outlook for the industry remains positive as energy starved nations such as China and India, as well as the oil-rich nations of Saudi Arabia and the United Arab Emirates, currently have reactors under construction. Globally a total of 95 nuclear reactors are planned over the next two decades.
"What this means to me is that even the countries with tons of oil know nuclear is the future. The 21st century is going to be nuclear," said Jeb Handwerger analyst and founder of Gold Stock Trades.
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