Should You Buy Cameco While It's Below $45?
(NYSE: CCJ) has had the wind at its back for about a decade. That time period is important to keep in mind as you examine this uranium miner. The stock is currently hovering around the $45 price point, which seems to be a key level for investors when you look back historically. Is Cameco getting set to leap above this price and rise even further?
At its core, Cameco is a supplier to the nuclear power industry. It mines uranium and processes it into the fuel used by nuclear power plants. More recently it has invested alongside Brookfield Asset Management, helping to buy Westinghouse out of bankruptcy. Although Cameco is the minority shareholder in Westinghouse, it still owns 49% of the business. That pushes it into the nuclear power plant services space, as well. (Westinghouse designs and services nuclear power plants.)
All in, Cameco is a picks-and-shovels play on nuclear power. That's likely to be interesting to more aggressive investors because of the increasing demand for nuclear power. There are a few reasons to remain positive about the nuclear power sector.
Source Fool.com
Cameco Corp. Stock
The stock is one of the favorites of our community with 30 Buy predictions and 1 Sell predictions.
With a target price of 86 € there is a slightly positive potential of 15.07% for Cameco Corp. compared to the current price of 74.74 €.
