nuclear-news

Further afield, Canada’s Cameco Corp.   has seen its stock fall 37.1% year-to-date, while Uranium One Inc.  shares are down 19.8% in Toronto.

Paladin Energy Ltd.  shares are down 32.3% year-to-date, while Extract Resources Ltd.shares are down 19.6%, and Energy Resources of Australia Ltd.  shares are down 55.8%…..“It is clear to us that the market has — quite quickly — adopted a less positive outlook for uranium-fuel demand,” said analysts at Daiwa Securities, writing about recent share price movements.

The losses for the uranium-producing sector were sparked in March, when an earthquake and tsunami hit Japan and damaged Tokyo Electric Power Co.’s   Fukushima Daiichi nuclear power complex, leaving authorities battling to contain radiation leaks.

The event raised questions about the future of the nuclear-power industry, with Germany suspending operations at its seven oldest nuclear power plants while it reviews its energy policy. China suspended approvals for new nuclear power stations on March 16 — also pending a review……Rio Tinto Ltd.    unit Energy Resources of Australia hasn’t performed so well this month, with shares losing another 9.9% to trade at 4.92 Australian dollars ($5.23) on Friday in Sydney. The firm has been battling flooding at its Ranger Mine in Australia’s Northern Territory.

“To get more constructive on the stock, we would need to see progress being made in tackling the water-management problems and commitment from ERA’s board to progress the underground exploration decline,” said the Merrill Lynch analysts, who have an underperform rating on the shares.