UEC slips 10% on chances for Russia - Ukraine ceasefire📉Uranium stocks drop

Uranium stocks are falling sharply today, even though uranium futures are rising to $73.5 per pound. The declines can be linked indirectly to the increased likelihood of a ceasefire in Ukraine and a potential thaw in relations between Washington and Moscow. As a result, the perceived "risk" of broad sanctions on the Russian strategic nuclear sector in the U.S. has decreased.

• The uranium mining sector had recently been rising partly on the back of expectations for sanctions on Russian uranium. The opposite scenario would mean that, although the domestic uranium market in the U.S. will likely continue to grow, it will not be free from competitive alternatives.
• Profit-taking is also weighing on the sector, pushing uranium mining stocks lower. Among the biggest losers are Cameco and Centrus Energy, while Energy Fuels is down nearly 18%. Shares of Uranium Energy Corp (UEC.US) are losing over 10%, pulling back from record highs.

UEC.US (D1 interval)

Source: xStation5