Is Cameco Corporation a Buy?
Cameco Corporation (NYSE: CCJ) is focused on one thing: uranium. Uranium prices have been losing ground ever since the 2011 Fukushima nuclear power plant meltdown in Japan. It's been a brutal stretch that's pushed Cameco's shares to near 10-year lows. If you are looking to buy this uranium miner, what you really need to ask is whether Cameco is strong enough to suffer through this downturn so it can benefit from the next upturn.
Here are some facts you'll want to know.
The first thing to understand about uranium is that there are silver linings currently hanging over the industry. For example, there are currently 56 nuclear power plants under construction today. The vast majority are in developing Asian nations, where demand for electricity is growing more quickly than in developed nations. Once built, these plants will help boost demand.
Source: Fool.com
Cameco Corp. Stock
We see a rather positive sentiment for Cameco Corp. with 6 Buy predictions and 1 Sell predictions.
With a target price of 60 € there is a positive potential of 32.41% for Cameco Corp. compared to the current price of 45.32 €.
