Monday, April 18, 2011

Cameco (CCJ) (UEC) (SHAW) (DNN) Close Up as Nuclear Rebounds

Shares of uranium and nuclear companies like Shaw Group Inc. (NYSE:SHAW), Uranium Energy (AMEX:UEC), Denison Mines Corp (AMEX:DNN) and Cameco Corporation (NYSE:CCJ) are rebounding after the initial shock of the nuclear challenges in Japan from the earthquake are gradually winding down.

The headline nonsense that somehow the nuclear sector was going to be cut and replaced by other so-called "green" energy is ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying the growing energy needs of the world.

While it's obvious the industry will go over safety measures to ensure the highest levels possible, to use a rare occurrence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.

Cameco Corporation closed Friday at $28.46, gaining $0.42, or 1.50 percent. Denison Mines closed at $2.38, rising $0.02, or 0.85 percent. Uranium Energy closed at $4.09, up $0.06, or 1.49 percent. Shaw Group closed at $37.75, increasing $0.41, or 1.10 percent.

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