Shares of Uranium Resources, Inc. (NASDAQ: URRE) are up more than 25 percent in afternoon trading. The stock is likely reacting to USEC Inc (NYSE: USU)’s 44 percent move to the upside Friday.
Uranium Resources is a microcap stock that “engages in the acquisition, exploration, development, and mining of uranium properties, using the in situ recovery mining process. It owns developed and undeveloped uranium properties in South Texas; and undeveloped uranium properties in New Mexico. The companys primary customers include utilities who utilize nuclear power to generate electricity.”
Comparing the charts of both companies, when USEC moved sharply to the upside, Uranium Resources did the same. There is no news being reported regarding Uranium Resources.
Disclosure: At the time of this writing, the author had no position in the company mentioned.