Shares of uranium stocks are glowing green on Monday -- and you can thank the United States Senate for that.
As Mining.com reported over the weekend, the Senate's Committee on Environment and Public Works has just approved a bipartisan bill aimed at establishing a U.S. national strategic reserve of uranium. The prospect of government funds being spent to acquire large amounts of the nuclear fuel sent shares of uranium mining stocks sharply higher today.
As of 1:05 p.m. EST, Cameco (NYSE: CCJ) was up 13.3%, Denison Mines (NYSEMKT: DNN) soared 13.5%, Energy Fuels (NYSEMKT: UUUU) rose 15.5%, and Uranium Energy (NYSEMKT: UEC) skyrocketed 22.3%.
For further details see:
Why Uranium Stocks Popped This Morning