While last month?s disaster at the Fukushima Dai-Ichi plant triggered fears of radiation, firms from Commerzbank AG to Deutsche Bank AG are still projecting higher uranium prices as developing nations from India to China seek to meet power demand in the world?s fastest-growing economies. Nuclear Power Corp. of India said yesterday it?s considering a venture with state-owned Uranium Corp. of India to acquire mines overseas, and Newmont Mining Corp. (NEM) disclosed a 6.7 percent stake in Paladin.
?With the financial market?s view on the uranium industry and nuclear being extremely negative, there?s some opportunity because this is just a knee-jerk reaction,? said Ben-Ari Elias, a New York-based analyst at Sterne Agee & Leach Inc. ?The whole space is cheap and it shouldn?t be. I do think some properties will come up for sale.?
EXT Price at posting:
$8.31 Sentiment: Buy Disclosure: Held
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