Why These Energy Stocks are Losing This Week

7. Uranium Royalty Corp. (NASDAQ:UROY)

Share Price Decline Between June 30 – July 8: 5.6%

Uranium Royalty Corp. (NASDAQ:UROY) is a pure-play uranium royalty company focused on gaining exposure to uranium prices by making strategic investments in uranium interests.

Uranium Royalty Corp. (NASDAQ:UROY) fell this week following a downturn in the price of uranium. Uranium futures in the US are hovering around the $74.5 per pound mark at the time of writing this piece, down 6% from the seven-month high of $79 touched on June 27, as the lack of fresh buying by holding funds allowed utilities to set lower bids.

The price of the nuclear fuel shot up last month following an announcement by the Toronto-based asset manager Sprott that its Sprott Physical Uranium Trust would spend $200 million to buy an estimated 2.6 million pounds of physical uranium.