Why the World's Largest Public Uranium Miner Cratered 15% in October
Shares of Cameco Corp (NYSE: CCJ) fell 15% last month, pulling the shares back into negative territory for the year-to-date period. There's been little good news in the uranium market for some time, which is highlighted by the fact that Cameco's stock is off some 80% over the last 10 years.
The big story with Cameco remains a moribund uranium market. The company is focused exclusively on uranium, doing everything from mining to processing the material for use in nuclear power plants. But uranium has been in a long downtrend, with recent spot prices down around 20% compared to the average spot price in 2016.
Image source: Getty Images.
Source: Fool.com
Cameco Corp. Stock
€46.10
0.370%
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 30.15% for Cameco Corp. compared to the current price of 46.1 €.
