BUZZ-Centrus Energy gains after announcing extra centrifuge manufacturing capacity

Reuters11-21

** Shares of nuclear fuel supplier Centrus Energy gains 8.6% at $74.36

** Co says it is resuming centrifuge manufacturing activities and expanding its manufacturing capacity at its facility in Oak Ridge, Tennessee

** LEU says it will invest additional $60 mln for this effort in the next 18 months to primarily lay the groundwork for a large-scale expansion later at its plant in Piketon, Ohio

** Centrifuges are used to enrich uranium fuel for reactors

** Co said on Monday that Russia's TENEX sent it a notice of cancellation of its license to export low-enriched uranium to the U.S., effective through Dec. 31, 2025

** Stock had fallen more than 10% on the previous session

** Including the session's gains, stock is up ~36% YTD

(Reporting by Sourasis Bose in Bengaluru)

((Sourasis.bose@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment