CAPITAL MARKETS

Uranium stocks, zinc gain

Stocks were up in Toronto after the Thanksgiving break and uranium equities were back in favour as the yellowcake spot price approached US$40 a pound again.

Staff reporter
 The Sprott Physical Uranium Trust has continued its buying spree

The Sprott Physical Uranium Trust has continued its buying spree

Fission Uranium Corp (TSX: FCU) - which has the Patterson Lake South uranium project in Saskatchewan - led gains as it closed up 30.8%.

The uranium spot price rose more than 2% to $39.70/lb, having neared a nine-year high around $50/lb last month.

The Sprott Physical Uranium Trust has continued its buying spree, saying last week its holdings exceeded 30 million pounds.

Its shares (TSX: U.U) rose 6.8%.

Zinc reached its highest point since March 2018 on the London Metal Exchange, up more than 1% to $3,263.60 per tonne.

"Zinc has been the outperformer so far this month, last night closing up 8.1% month to date," Marex's Al Munro said from the LME desk.

Gold was up slightly to $1,760 an ounce on the spot market as inflation worries resurface.

Barrick Gold gained 0.78% in Toronto, copper producer Antofagasta rose 1.5% in London and Rio Tinto lost 1.88%.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.