1141 days ago • Posted by William Ramstein
Rare earth miners and uranium producers reap rewards
Shares of MP Materials Corp., the largest U.S. based miner of rare earths, is up more than fourfold since Biden won the election four months ago, compared with an 86% gain in VanEck Vectors Rare Earth/Strategic Metals ETF. Shares in the company, which went public via a SPAC deal in July, rose for a third day and were up 0.7% to $49.8 on Wednesday. Morgan Stanley initiated research on the stock on Tuesday, with a price target of $57. With supply tightening and ESG demand from investors ramping up, uranium stocks such as Denison Mines Corp. have surged more than 70% this year, compared to 23% gain in Global X Uranium ETF. The stock rose 2% on Wednesday. Source: Bloomberg
