December 4, 2017 / 6:42 PM / 8 months ago

BUZZ-Uranium producers gain from Kazakhstan's output cut

** Shares of uranium miners jump on expectations that Kazakhstan’s uranium output cut would help clear glut

** U.S.-listed shares of Canadian miner Cameco Corp up 14 pct at $10.79, their highest since April

** Nexgen Energy and Uranium Energy Corp rise ~14 pct to C$3.40 and $1.52

** Energy Fuels Inc, Denison Mines Corp, Ur-Energy Inc up ~10 pct

** Kazakhstan, the world’s largest uranium producer, slashed its output forecast by 20 pct for the next three years

** Output cut “earlier than expected”; spot uranium prices, currently at $22/pound, expected to go up as much as $30/pound - Rob Chang of Cantor Fitzgerald (Reporting by Karan Nagarkatti)

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