UEC - Why Alcoa Century Aluminum and Uranium Energy Stocks Popped Today
Stock markets flipped the page last week on a miserable third quarter of 2022, in which the S&P 500 fell 9% in September alone, bringing year-to-date losses for 2022 to 25%.
Metals stocks in particular are joining the rally today, with shares of aluminum producers Alcoa (NYSE: AA) and Century Aluminum (NASDAQ: CENX) gaining 10% and 17%, respectively. Nuclear fuel miner Uranium Energy (NYSEMKT: UEC) isn't looking too shabby, either, booking a respectable 6.7% gain as of 12:25 p.m. ET on Monday.
After Russia announced the illegal annexation of four more Ukrainian regions over the weekend, it is inviting a new round of sanctions from the West. Individual businessmen and Russian officials are the primary targets, but CNBC reports that shell companies formed to evade previous sanctions are also being included.
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Why Alcoa, Century Aluminum, and Uranium Energy Stocks Popped Today