Centrus Energy Corp (AMEX:LEU) shares are trading higher Tuesday after the company signed an agreement to explore potential investments to support the expansion of the company’s uranium enrichment plant.
What To Know: Centrus Energy announced that it signed a Memorandum of Understanding with Korea Hydro & Nuclear Power and POSCO International to explore potential expansion investments aimed at deepening U.S.-Korea cooperation on civilian nuclear energy.
U.S. Secretary of Commerce Howard Lutnick and Korea’s Minister of Trade, Industry and Energy Kim Jung-kwan attended the signing of the agreement.
“We are proud to be strengthening our relationship with our partners in Korea in support of our work to restore America’s ability to enrich uranium at a large scale,” said Amir Vexler, president and CEO of Centrus Energy.
“This agreement reflects strong demand for a U.S.-owned uranium enrichment capability and another potential avenue for private investment capital to bring added supply diversity and competition to the marketplace – and meet Korea’s need for affordable, reliable fuel supplies for both new and existing reactors.”
Centrus Energy and Korea Hydro & Nuclear Power also announced an agreement to increase the supply volume of Low-Enriched Uranium under a previous contract signed in February. The supply commitment is contingent upon Centrus receiving the necessary federal funding to build new LEU production capacity. Centrus said it’s committed to matching federal funds with substantial private capital and utility purchase commitments as part of a public-private partnership.
How To Buy LEU Stock
By now you're likely curious about how to participate in the market for Centrus Energy – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
LEU Price Action: Centrus Energy shares were up 12.90% at $209.18 at the time of publication on Tuesday, according to Benzinga Pro.
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