The value of micro cap stock for USEC Inc. (NYSE:USU) rose during trading on Thursday morning, as news that the company raised its guidance for one of its diffusion plants positively affected investor sentiment.
According to a release, the company recently signed an agreement to extend Paducah Gaseous Diffusion Plant operations through May 31, 2013, as USEC entered into a multi-party deal with Energy Northwest, the Bonneville Power Administration, the Tennessee Valley Authority and the U.S. Department of Energy (DOE) to extend uranium enrichment operations at the Paducah, Kentucky plant.
The Wall Street Journal reported that this deal meant that the plant would be open longer than previously expected, a move that USEC projects will increase its revenue from sales associated with the site from $1.5 billion to roughly $1.8 billion.
According to the news outlet, the upward revisions helped to bolster the value of the company's stock, which was down 28 percent for the year.
The value of the company's stock rose $0.16 to $1.00 at 10:53 a.m. on June 28, an increase of 19.7 percent.