News todayShares of Cameco shot up 8.2 percent to C$25.42....

News today

Shares of Cameco shot up 8.2 percent to C$25.42.

Analysts said Cameco and other uranium miners were buoyed by a shift in Japanese policy that favors a return of nuclear power to the country's energy mix.

"Uranium prices have been in the tank for quite some time, mainly due to all of Japan's 48 operable reactors being offline - so there's a pretty big supply overhang," said Daniel Rohr, an analyst with Morningstar.

"This news is an important step in getting those reactors back online, getting them consuming uranium again and getting rid of that supply overhang that kept uranium prices at trough levels."