3 Uranium Juniors Up Over 100 Percent in 2016

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Although there’s discussion mulling that uranium prices will double by 2018, uranium is still floundering as we near the halfway mark of this year. As of June 20, the uranium spot price dropped $1.85 from the previous week to $26.15.
In FocusEconomics‘ June report, panelists surveyed expect uranium prices to slowly increase throughout 2016 due to high nuclear demand from China, India and Russia. The expect prices for the metal to average $36 per pound in the last quarter of the year.
Still, despite the struggles the uranium market has faced, a number of uranium juniors have fared well year-to-date.
Here’s a look at a few companies that have seen impressive share price gains thus far in 2016.

CanAlaska Uranium (TSX:CVV)

With the uranium industry seeing the struggles it has so far this year, CanAlaska Uranium has seen impressive gains of 636.36 percent, which is a $0.70 increase, to sit at $0.81. Over a one-year period, the company has seen gains of 326.32 percent.
CanAlaska is currently focused on undertaking uranium exploration in the Athabasca Basin and holds two key uranium properties: the West McArthur Project and the Cree East Project.
The most recent news from CanAlaska was Cameco‘s (TSX:CCO) plans for summer drilling at CanAlaska’s West McArthur project. Drilling is expected to start in mid-June.

Mega Uranium (TSXV:MGA)

Next is Mega Uranium, which has risen 114.29 percent year-to-date, or $0.08, to sit at $0.15. Over a one-year period, the company’s share price has rallied 66.67 percent overall.
Mega Uranium has three advanced uranium projects in Australia: Ben Lomond, Georgetown and Kintyre.
Despite the price increase, there hasn’t been much news from Mega Uranium as of late—the most recent news from the company came in March, when it announced results of its AGM.

Purepoint Uranium Group (TSXV:PTU)

Purepoint Uranium is a Canadian-based uranium exploration company with properties in Saskatchewan’s Athabasca Basin.  The company owns a 21 percent interest in the Hook Lake project, which is 39.5 percent owned by Cameco and 39.5 percent owned by AREVA Resources Canada.
At the end of May, it was announced that the joint venture for the Hook Lake project had reallocated funds for continued drilling at the Spitfire zone for 2016.
Year-to-date, shares of Purepoint have jumped 128.57 percent to $0.80. Over a one-year period, the company has also seen significant success, having seen its shares rise 100 percent overall.

Other uranium stocks up year-to-date

CanAlaska Uranium, Purepoint Uranium Group and Forum Uranium aren’t the only uranium juniors on the rise. Here’s a quick look at some other companies who have seen gains so far this year:

• Azincourt Uranium (TSXV:AAZ): up 33.33 percent year-to-date; holds a 50 percent interest in the Patterson Lake project in the Athabasca Basin.
• Bayswater Uranium (TSXV:BYU): up 66.67 percent year-to-date, an increase of $0.01 to $0.025.  Over a one-year period, the company has seen gains of  25 percent.
• Forum Uranium (TSXV:FDC): up 57.14 percent year-to-date to $0.11. The company has interests in both the Athabasca Basin and the Thelon Basin in Nunavut.

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