Why Cameco Stock Is Moving Higher Today
Shares of Cameco (NYSE: CCJ) are moving up on Tuesday. The company's stock had moved up 2.8% as of 2:26 p.m. ET, but was up as much as 4.8% earlier in the day. The movement comes as the S 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 0.4% and 0.6%, respectively.
Uranium giant Cameco saw a boost after a major deal was announced between Meta Platforms and Constellation Energy that led to nuclear stocks across the industry spiking.
The parent company of Facebook and Instagram announced it has signed a 20-year agreement with Constellation to purchase roughly 1.1 gigawatts of energy from Constellation's Clinton Clean Energy Center in Illinois -- the entire output from the site's nuclear reactor.
Source Fool.com
Cameco Corp. Stock
€76.65
-1.670%
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 12.2% for Cameco Corp. compared to the current price of 76.65 €.
