The Globe and Mail reports in its Tuesday edition that Cameco is reaching valuations not seen in more than 15 years. The Globe's Niall McGee and Matthew McClearn write that Cameco is benefiting from a resurgence in uranium, as nuclear power is increasingly embraced by countries looking for ways to cut carbon emissions and supply concerns arise. On Monday, Cameco shares closed at $54.54 in Toronto, about $5 below its all-time high in 2007. Raymond James analyst Brian MacArthur said last week he expects demand for uranium to grow further as nuclear is increasingly embraced as a "green" power source. Nuclear has been floated as an alternative or at least a stopgap until renewables such as solar and wind become more widely adopted. Meanwhile, Cameco, one of the world's biggest suppliers of uranium, has run into production problems. It recently cut its production forecast for the year by 8 per cent, to 30.3 million pounds, owing to operational issues at both its Cigar Lake mine and Key Lake mill, which services the McArthur River mine. Mr. MacArthur said, "The recent production shortfall from Cameco further highlights the growing security of supply risk in uranium at a time when the demand outlook is stronger."