Denison Mines (DNN) Surges 10.4% as US Govt Places $80-Billion Bet on Nuclear

We recently published 10 Stocks Soaring by Double Digits; Uranium Stocks Leading. Denison Mines Corp. (NYSEAMERICAN:DNN) is one of the top-performing stocks on Tuesday.

Denison Mines bounced back by 10.43 percent on Tuesday to close at $3.07 apiece as investors hunted for uranium stocks after the US government announced an $80 billion investment aimed at unleashing the country’s energy sector.

During the session, Denison Mines Corp. (NYSEAMERICAN:DNN) piggybacked on optimistic sentiment for the nuclear industry following the US government’s partnership with Cameco Corp., Brookfield Asset Management, and Westinghouse Electric Company to accelerate the deployment of nuclear power through the development of new reactors across the US.

The country’s nuclear development sparks good news for uranium producers, such as Denison Mines Corp. (NYSEAMERICAN:DNN), as it would spark higher demand in uranium products to power nuclear facilities.

Denison Mines Corp. (NYSEAMERICAN:DNN) rallied alongside its counterparts, namely NexGen Energy, Uranium Energy, and Energy Fuels, among others.

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Disclosure: None. This article is originally published at Insider Monkey.