Uranium in play with oil surge

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With crude oil over $100 a barrel, the alternative fuels are back in rally mode. Good news for solar developers and other renewable plays -- and good news for the uranium miners too. We are back in the old world where an uptick in oil means a bigger upward swing in just about everything else in the energy sector. Today, for example, news that uranium prices jumped to a two-year high of $73 a pound last week is sending the entire group upward: UUU ( quote ), U ( quote ), URZ ( quote ), DML ( quote ), FSY ( quote ) are all up 2% to 8% this morning. And for the long haul, take a look at the ETF URA ( quote ): You may not be able to buy shares of the Russian uranium mothership ARMZ in the United States, but you can get a taste of the Western company that ARMZ is using to consolidate assets. ARMZ is building a sprawling uranium empire and just generated a swarm of headlines. The  CEO described his vision for the company: joint ventures in Australia and Mongolia, big reserves sitting in Namibia waiting for the right environment to dig up. But for our purposes, the most interesting thing is that while CEO Vadim Zhivov says he does not plan on bumping up ARMZ' 51% stake in Canadian miner Uranium One ( SXRZF , quote ), he will be using that entity as the vehicle to pick up foreign assets.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , International , Stocks

Referenced Stocks: URA , URZ , UUU

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