The Zhitong Finance App learned that CGN Mining (01164) rose by more than 4%, with a cumulative increase of more than 35% in the past month. As of press release, it rose 4.08% to HK$2.04, with a turnover of HK$9.6684 million.
CITIC Construction Investment pointed out that according to Numerco data, this week's U3O8 price is 89 US dollars/pound, an increase of 2.3% over last week. Uranium prices continue to operate at a high level, supply is fluctuating, demand is rising steadily, and inventories continue to reach historic lows. Their regulatory effect on price provision will continue to decline, the elasticity of uranium prices will increase, and the price center is expected to continue to rise.
Guotai Junan said that it is expected that the rise in uranium prices will still be the main driver of the company's profits. The fundamentals of uranium supply and demand are expected to remain strong over the long term, and uranium prices are expected to continue to rise and remain high in 2024. Furthermore, CGN Mining's mineral uranium production is expected to increase steadily in 2024.