Daily Nuclear & Uranium Market Recap
2/12/26
Daily Nuclear & Uranium Market Recap
Thursday, February 12, 2026
Market Overview
The nuclear and uranium sector sold off broadly today, led by a Centrus Energy (LEU) earnings-driven collapse that weighed on sentiment across the complex. Uranium spot last marked at $88.90/lb, up +1.02% day-over-day, +7.30% month-over-month, and +31.31% year-over-year, the physical commodity itself remains resilient despite the equity-side turbulence. URA (Global X Uranium ETF) closed at $52.50, down -2.25% on 3.44M shares, pulling back for the second consecutive session after Monday’s massive +5.3% rally.
Key Equity Movers
Centrus Energy (LEU) - The day’s headline wreck. LEU crashed -11.88% to $185.20, gapping down from yesterday’s $210.16 close after opening at $211.44 and selling off hard into the close ($184.04 intraday low). The catalyst: Q4 earnings missed consensus by $0.63, printing $0.79 EPS vs. $1.42 expected. Volume surged to 2.61M shares, over 2x the 1.13M average, institutional selling pressure was heavy.
Cameco (CCJ) - Closed at $116.39, down -2.34%, opening at $119.00 and grinding lower through the session (intraday range $115.60–$120.53). Volume of 3.88M shares was in-line with average. The 50-DMA sits at $104.87, providing strong intermediate support.
Oklo (OKLO) - Continued its slide, closing at $63.92, down -3.49% after opening at $67.17 (intraday range $63.62–$67.71). This marks a -15% drawdown from Monday’s $75.05 close, momentum is firmly negative with the stock now trading well below both the 50-DMA ($86.63) and 200-DMA ($82.68).
Uranium Energy Corp (UEC) - Opened at $17.00 but faded through the session, with the intraday range reaching as low as $15.34. Previous close was $16.34. Earnings are due March 11, 2026, the next fundamental catalyst for the name.
URA (Global X Uranium ETF) - Closed $52.50, down -2.25%, with an intraday range of $51.34–$54.10 on 3.44M shares. This is the third session of consecutive selling since Monday’s $54.90 close, though URA remains up +14.3% from the Feb. 5 low of $49.11.
URNM (Sprott Uranium Miners ETF) - NAV as of yesterday’s close was $71.79, up +0.89% (+$0.63), with total net assets at $2.46 billion. Market price settled at $71.96, a slight 0.24% premium to NAV.
Catalysts & Headlines
LEU Earnings Miss - The Sector Anchor - Centrus reported Q4 EPS of $0.79 vs. the $1.42 Street consensus, a -44% miss that triggered a gap-down and sustained selling. Shares had already been under pressure, falling -5.35% in the prior week. The stock is now -60% from its 52-week high of $464.25. Despite the miss, the DOE HALEU production contract and $2.7B enrichment award pipeline remain structurally intact, the question is whether the revenue recognition cadence can catch up to the policy tailwinds.
Uranium Spot Holding Above $88 Despite Equity Weakness - The divergence between physical uranium (+31% YoY) and today’s equity selloff is notable. The Oregon Group’s thesis published yesterday, that spot can “look calm while the term market tightens underneath”, is playing out in real-time as equities reprice on company-specific earnings while the commodity maintains its structural bid.
URA Weekly Context, URA has traded in a $49.11–$54.94 range over the past 5 sessions, with Monday’s surge (+5.3%) now almost entirely given back through three days of selling. The $51–$52 zone is emerging as near-term support; a break below $51 would target the $49 low from Feb. 5.
SEQH Desk View
Today’s session was driven by one name: LEU’s -11.88% post-earnings collapse set the toneand dragged the entire complex lower. The $0.63 EPS miss is a clear negative, but the selloff may be overdone relative to the structural positioning, LEU is the sole U.S. HALEU producer with a locked-in DOE contract, and the revenue lumpiness inherent to government enrichment work makes single-quarter misses less informative than the backlog trajectory. The more important signal is the physical-equity divergence: spot uranium at $88.90/lb is showing zero reaction to today’s equity weakness, reinforcing that the commodity market is tightening on its own fundamentals independent of stock-level noise. OKLO at $63.92 is now -67% from its 52-week high and sitting below both moving averages, this is approaching oversold territory but there’s no fundamental floor in a pre-revenue name. Near-term, watch CCJ’s $115.60 intraday low as support, if that breaks, the 50-DMA at $104.87 becomes the next magnet. UEC’s March 11 earnings will be the next sector-wide readthrough event.