NEW YORK, NY -- (Marketwire) -- 10/25/12 -- 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 Uranium One, Inc. (TSX: UUU) and USEC Inc. (NYSE: USU).
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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.
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.
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Uranium One is one of the world's largest publicly traded uranium producers with a globally diverse portfolio of assets located in Kazakhstan, the United States and Australia. The company reported revenues of $96.8 million on sales of 1.9 million pounds of uranium for the second quarter of 2012. Uranium One is scheduled to release their third quarter financials on November 5, 2012.
USEC is a leading supplier of enriched uranium fuel and nuclear industry related services for commercial nuclear power plants. The American Centrifuge is an advanced U.S. gas centrifuge uranium enrichment technology USEC is deploying to provide a long-term and reliable source of fuel for commercial nuclear power plants in the United States and around the world. The company earlier this month reported the President has signed a six month spending measure with dedicated funding for the American Centrifuge RD&D program.
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