Posts for Ticker ‘URRE’

Nuclear Stocks Reacting to USEC Woes (USU, CCJ, NLR, URZ, DNN, URRE, PESI)

Carbon Emission ImageWe have already covered the nuclear winter blow-up over at USEC Inc. (NYSE: USU) after the DOE declines to issue a guarantee for it long-pending loan application.  What we wanted to see is what the fallout is in the rest of the nuclear sector.  As we expected, all of the stocks are down.  The good news is that these are not down anywhere as much we would have guessed based upon the sharp negative reaction for USEC shares.  This has Cameco Corp. (NYSE: CCJ), Market Vectors Nuclear Energy ETF (NYSE: NLR), and others on the defensive.
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Posted on: July 28, 2009 – 11:26 am in Nuclear, Trading Alert, Utilities, , , , , , ,

Many Cult Stock Changes In Russell 3000 Rebalance (CPST, BCON, FNSR, RICK, SIRI, TSCM, URRE, VG)

burning-money-picThe Russell 3000 Index is being rebalanced and many cult stocks with low share prices that have a wide following and high trading volume are getting booted off the index. Beacon Power Corporation (NASDAQ: BCON), Capstone Turbine Corp. (NASDAQ: CPST), Finisar Corp. (NASDAQ: FNSR), Rick’s Cabaret International Inc. (NASDAQ: RICK), SIRIUS XM Radio Inc.(NASDAQ: SIRI), TheStreet.com, Inc. (NASDAQ: TSCM), Uranium Resources, Inc. (NASDAQ: URRE), and Vonage Holdings Corporation (NYSE: VG) are among the former high-flier stocks getting removed from the Russell 3000 that have become cult stocks with a large investor base.  We have given some color on these changes.
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Posted on: June 19, 2009 – 12:01 pm in Cramer, Cult Stock, Index, Trading Alert, , , , , , , ,

Uranium Miner Stumbles (URRE, CCJ)

Low prices for uranium have hit producers hard, and Uranium Resources, Inc. (NASDAQ:URRE) has posted the numbers to prove it. First quarter 2009 revenue fell 75%, from $5.7 million in the same period a year ago to $1.7 million. The net EPS loss amounted to -$0.03, compared with an EPS loss of -$0.04 a year ago.
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Posted on: May 11, 2009 – 8:28 am in Commodities, Earnings, Nuclear, ,

Pressure on Uranium Prices, Real or Not? (CCJ, URRE, DNN, NLR)

Because there is no real established exchange for buying and selling uranium, the workings of the uranium mining business is pretty much as mysterious to most of us as the nuclear reaction itself. One uranium miner, Cameco Corporation (NYSE:CCJ), trades substantial volumes at share prices well above $1/share. Most trade around a buck a share, at thin volumes, and have market caps well below $1 billion. That doesn’t mean there isn’t any action in uranium, just that it’s hard to spot. For example, Uranium Resources, Inc. (NASDAQ:URRE) recently received a decision in federal circuit court related to oversight of a planned underground injection control program that the company needs for in situ mining on a site within the Navajo Nation. The US Environmental Protection Agency has been judged to be the permitting agency for the project. Both the Navajo Nation and the state of New Mexico sought control of the program, and either would have been more to the company’s liking.

Posted on: April 21, 2009 – 10:38 am in Commodities, Nuclear, Trading Alert, , , ,

Uranium Resources, Imploding Nuke (URRE)

Before the market opened this morning, Uranium Resources Inc. (NASDAQ:URRE) announced revenue of $4 million for the third quarter and a net loss of $14 million (-$0.25 EPS) due to lower sales and lower prices. The company’s share price has fallen 92% from its 52-week high of $14.07. This morning’s report won’t help that a bit.

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Posted on: November 10, 2008 – 8:58 am in Commodities, Earnings, Nuclear,

The 52-Week Low Club (IMB)(TMA)(WFMI)(URRE)

IndyMac Bancorp (IMB) Fitch cuts debt rating  Down to $1.83 from 52-week high of $37.50.

Thornburg Mortgage Asset  (TMA) Ongoing concerns about company losses. Drops to $.64 from 52-week high of $28.23.

Whole Foods Market (WFMI) Big earnings miss. Sells off to $28.96 from 52-week high of $53.65.

Uranium Res (URRE) Company does private placement at low share price. Dips to $4.06 from 52-week high of $14.99.

Douglas A. McIntyre

Posted on: May 14, 2008 – 2:59 pm in HI/LOW, , , ,

Uranium Resources Raising Cash For More Deals (URRE, BHP)

Uranium Resources, Inc. (NASDAQ: URRE) announced this morning that it entered into a private placement based on the closing prices yesterday after the close.  While it does not imply that BHP Billiton Ltd. (NYSE: BHP) is part of this, there is a tie in at the end about an existing acquisition that the company is involved in.

The company is raising north of $14.3 million in gross proceeds before placement fees.  The sale of 3,295,599 shares was placed at $4.34 per share.  That represents a 10% discount to the closing price.  The company also gave up warrants to purchase 988,680 shares of common stock at $5.78 per share, which represents a 20% premium to yesterday’s closing price.

The warrants expire 60 months after issuance.  There are also some ratchet warrants tied that have a 12-month expiration from issuance.  These are immediately exercisable if the company sells additional shares at an implied rate of under $4.34 and there are additional terms and conditions to these.

The use of proceeds will be used for the acquisition, permitting, exploration and development of additional uranium properties located in Texas in an effort to extend annual production in 2010 and 2011 at the current rates and for general corporate purposes.

The company is in conversation with its advisers and BHP Billiton Ltd. (NYSE: BHP) to discuss the financing of the acquisition of Rio Algom Mining LLC, which these funds raised here will not be used for.

You can join our open email distribution list to hear about other secondary offerings, IPO’s, secondary offerings, special financings, mergers, spin-offs, and other special situations.

Shares of Uranium Resources are down 9% at $4.38 in early trading.  Prior to any implied dilution from this deal, the company has a market cap listed as roughly $229 million.

Jon C. Ogg
May 14, 2008

Jon Ogg produces and edits the "10 Stocks Under $10" newsletter and he does not own securities in the companies he covers.

Posted on: May 14, 2008 – 9:56 am in Metals, Nuclear, Secondary Offering, ,

The 52-Week Low Club (IMB)(WNR)(VVTV)(URRE)

IndyMac Bancorp (IMB) Broker report says company needs more capital. Falls to $2.15 from 52-week high of $37.50.

Western Refining (WNR)  Bad earnings and broker downgrade. Drops to $7.81 from 52-week high of $66.13.

ValueVision International (VVTV) Revenue down from last year. Sells off to $4.14 from 52-week high of $12.19.

Uranium Resources (URRE) Earnings wreck. Trades down to $4.44 from 52-week high of $14.99.

Douglas A. McIntyre

Posted on: May 13, 2008 – 3:03 pm in HI/LOW, , , ,

As Media Touts Nuclear Power, Time To Review Nuclear & Uranium Stocks (CCJ, USU, SGE, FLR, GE, URRE, USEG, URZ, CAU, MOS, CF, NLR)

It seems like the media is touting and flaunting more and more for a return of nuclear energy.  This may or may not happen as the applications are again for "Next Year" and it is with no surprise that it’s becoming the topic of much labor in Mexico pronounced "Man-ya-na" (sorry no N~ without changing languages).    You can also see where spot Uranium prices have come down significantly from the pre-summer ramp and summer highs.  TradeTech’s Uranium site shows its price chart for Uranium and The Ux Consulting Company shows much of the same.  But with $80.00 per barrel of oil and T. Boone Pickens calling for even higher oil prices you never know just how long the "call for nuclear power" will take to resurface from the investment community.  Nuclear power is getting more media coverage again. 

Let’s assume for a moment that we forget about the discussions leading to delays that have been perpetual.  Let’s for get about the political side of nuclear power.  Lets forget about killing land under mountains where we’ll bury the stuff in Nevada.  And let’s forget about the potential environmental catastrophe that can result if something goes horribly wrong.

There are many stock plays in the U.S. alone that will be huge beneficiaries of this if even one nuclear power plant approval goes through.  If there is one, why not the full dozen of them.  Here is the lot of companies:

Shaw Group (NYSE:SGR) is perhaps the most vertical of the engineering and construction firms.  Fluor (NYSE:FLR) is also in there.  And we can’t leave out the monster General Electric (NYSE:GE) for new reactors, nuclear fuel, reactor services and performance services.

Cameco (NYSE:CCJ) out of Canada is THE go-to behemoth in the stock market for Uranium miners and producers.  The much smaller company in the US is USEC (NYSE:USU), although its shares were hit exceptionally hard Friday after testing started.  Some more smaller and much more speculative stocks in the sector are Uranium Resources, Inc. (NASDAQ:URRE), U.S. Energy Corp. (NASDAQ:USEG), Uranerz Energy Corp (AMEX:URZ), and even Canyon Resources Corporation (AMEX:CAU).  Mosaic (NYSE:MOS) and CF Industries (NYSE:CF) are stealth plays in the sector that can enrich uranium from phosphate, but you should know that prices have to be very high and have to be expected to remain very high for quite some time for those to be cost effective.

 

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Posted on: September 14, 2007 – 12:32 pm in Nuclear, , , , , , , , , , , , , , , , , , ,

Uranium Resources Loves Its Executive Changes (URRE)

Uranium Resources, Inc. (NASDAQ:URRE), the speculative uranium explorer and miner, has made several executive change decsions today.  The stock has been up most of the day and shares are still up more than 8%, although the actual press release for the executive switches didn’t come until this afternoon.

The company has named Dave Clark as CEO, and he is currently president.  Paul Willmott will remain as executive chairman.  The COO role has been assumed by Richard Van Horn, who has been UR’s Senior VP of Operation and has been at the company since 1997.

The company has a stated goal of becoming a 10 million pound uranium producer by 2014.  It only had $8.58 million in 2006 revenues, so if Uranium prices stay anywhere close to current nuclear levels it is saying it wants to be far larger than today.  Revenues last quarter were $4.5 million.  The current market cap for the stock is now over $500 million and shares are within a few percent of recent highs. 

Jon C. Ogg
August 8, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: August 8, 2007 – 1:26 pm in Management Change, Nuclear, , , ,

Uranium Stocks Surge Despite Slow Uranium Contract Trading

Stock Tickers: USU, NMX, CCJ, EMU, URRE, URZ

This morning, if it is a stock related to uranium then it is probably up.  This is in the face of what is a very slow launch of uranium contract trading on NYMEX (NMX-NYSE) that we alerted last Friday.

USEC Inc. (USU-NYSE) is trading up 5% more at $23.94 and the stock earlier today traded a dime above the old yearly high of $24.34.  This is actually a multi-year high that may in fact be an all-time high.

Cameco (CCJ-NYSE) is also up 2% to $50.68 today.  If you listened to their conference call last week you would scratch your head over this.  Almost every single analyst that asked questions after the update to the company’s Cigar Lake floode was vicious and lashing.  The company didn’t really address the concerns from how it sounded.

Cramer’s pick, Energy Metals Corp. (EMU-NYSE) is trading up more than 5% on the day.  Uranium Resources (URRE-NASDAQ/OTC) posted a 300% revenue gain to $4.6 million.  This is a tiny number on a microcap stock, but those are things that swing traders and metals speculators look for.  Shares are up almost 4% to $9.90.  Even the small uranium wild catting play, Uranerz Energy (URZ-AMEX) is up 1% today.

This all flies in the face of what has been a very slow start to the Nymex uranium contract trading.  According to the website at Nymex, the open interest was a whopping 37 contracts since the contract debuted on Monday.  The large uranium miners and processors said they were going to stay on the sidelines for a while to see what would happen and how the contracts would be received.  Based on that open interest it doesn’t look like the big layers are coming in to trade the contract any time soon.

Jon C. Ogg
May 11, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: May 11, 2007 – 10:41 am in Metals, , , , , ,

NYMEX Launching Uranium Futures: What Does It Mean For Uranium Stocks?

Stock Tickers: NMX, USU, CCJ, EMU, MOS, CF, URRE, USEG, URZ

Uranium prices, and many of the underlying stocks that either mine it or explore it or are involved in the processing are way up from prior months.  This sector will get more interesting next week and it has been given very little exposure for something of this magnitude.

The New York Mercantile Exchange (NMX-NYSE) is going to start trading a URANIUM FUTURES CONTRACT on Monday.  You can visit the site and see the summary of details on the contracts that are available.  There were some details that the exchange made public on April 16 and it is worth a read.

It is quite odd that this has not been a US market yet, because as far as most of us know the price is basically set weekly.  What is a bit odd is that the terms are not quite the same as what the industry has used and many of the indications are that the major uranium players themselves are going to sit on the sidelines for a while.  That may or may not hold true in a few months but for now it seems like the speculators and trading firms are going to be the ones involved.

Some of the underlying shares were making major moves a few weeks ago, but some have slown down or stalled during the earnings flood over the last 3 weeks.  Most of these stocks are also either micro-cap companies with loose involvement in the grand scheme of things or they are smaller companies in Canada.  There are still at least some decent sized stocks that can be reviewed in the sector:

USEC (USU-NYSE) is the pure-play that most US investors use as a bogey.

Cameco Corp. (CCJ-NYSE) is far larger as the largest producer in the world and based in Canada.  They are holding a conference call to give an update to the two floods at the Cigar Lake uranium project in Saskatchewan.

Energy Metals (EMU-NYSE) was Jim Cramer’s play on the huge spike in the sector.  Cramer also came out with the two stealth plays in the sector. He also noted Mosaic (MOS-NYSE) and CF Industries (CF-NYSE) as stealth plays in the sector that can enrich uranium from phosphate, but you should know that prices have to be very high and have to be expected to remain very high for those to be cost effective. Here is what he said on these.

We had noted a safety net at the end of 2006 that uranium and nuclear energy investors could look at after Merrill Lynch made some incredibly strong calls for 2007 to 2008.

There were also many of these that were up huge in early April, and here is what was indicated at the time.

Uranium Resources (URRE-NASDAQ) $9.44; April 12 $9.68, DEC 11 $5.96.

U.S. Energy Corp. (USEG-NASDAQ) $6.54; April 12 $5.77; DEC 11 $5.58.

Uranerz Energy Corp (URZ-AMEX) $7.03; April 12 $6.38, DEC 11 $3.83.

There is even a note in the National Post in Canada showing that Raymond James has made some Canadian picks that could be buyouts in the sector.

It is hard to imagine that the contracts will gain a major foothold until the major producers and explorers to come into the actual exchange and participate in the liquidity.  These contracts may offer them some added hedging and liquidity, but it sounds like they are going to wait and see how this goes before they change the time old traditions of current uranium trading. 

Jon C. Ogg
May 4, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in any of the companies he covers.

Posted on: May 4, 2007 – 11:48 am in Alternative Energy, Nuclear, Utilities, , , , , , , , ,