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CGN MINING Once Rockets 30%+ as M Stanley Says Its New Natural Uranium Pricing Framework Agreement with Parent Co. Beats Forecasts
Recommend 11 Positive 16 Negative 8 |
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CGN MINING (01164.HK) opened over 14% higher this morning (4th) before snowballing 31.3% to a high of $2.18 during the intraday trading session. The stock last printed at $2.09, up 25.3%, with volume surging to $1.181 billion. Morgan Stanley noted that CGN MINING's new natural uranium pricing framework agreement with its parent company for 2026 to 2028 exceeded expectations. CGN MINING announced a draft of the new pricing formula with its parent company for 2026-2028, following the previous contract framework but made 2 major updates, naming the updates to fixed price per pound of natural uranium to US$94.22 for the first year, and the raise in spot price proportion from 60% to 70%, Morgan Stanley released a research report saying. This exceeded market consensus on the significant increase in fixed price and potential spot price upticks captured by higher spot proportion. Therefore, the broker kept rating at Overweight on CGN MINING, with a target price of $1.64. AASTOCKS Financial News Website: www.aastocks.com |
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