Uranium Stocks Extend Surge After Kazakh Miner Cuts Output
- World’s top producer of the radioactive metal lowers guidance
- Paladin Energy, Boss Energy best Australian stocks this year
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Uranium miners extended a rally that’s made them the best-performing Australian stocks this year after the world’s biggest producer of the metal used to produce nuclear fuel cut its output target.
Kazatomprom lowered its guidance for production for this year by 12% to 14%. The company, listed in London and controlled by the Kazakhstan government, had warned in January that it was likely to fall short of its output goals over the next two years.