05:38:31 EDT Fri 31 Mar 2023
Enter Symbol
or Name

Login ID:
Cameco Corp
Symbol CCO
Shares Issued 398,289,260
Close 2022-03-23 C$ 36.50
Recent Sedar Documents

Globe says MacArthur sees Cameco trading higher

2022-03-24 08:14 ET - In the News

The Globe and Mail reports in its Thursday, March 24, edition that Raymond James analyst Brian MacArthur has reaffirmed his "outperform" recommendation for Cameco. The Globe's David Leeder writes that after increasing his uranium price forecast Mr. MacArthur gave his share target for Cameco a $6 boost to $40. Analysts on average target the shares at $36.91. Mr. MacArthur says in a note: "The uranium market is different from many other commodity markets. Like any commodity, it is impacted by supply/demand fundamentals as well as funds flows, but given the size of the market, concentration of uranium supply, and the political nature of uranium, large unexpected price moves can occur. More and more governments have been considering nuclear as part of the solution for climate change, and it has begun to attract interest from some ESG funds. Given the Russia/Ukrainian conflict some governments are now also considering nuclear as part of their 'Energy Diversification Strategy.' However, the conflict has also highlighted supply chain risks in the industry." The Globe reported on Jan. 20 that CIBC began coverage of Cameco with an "outperformer" rating and $37 share target. Cameco shares could then be had for $26.80.

© 2023 Canjex Publishing Ltd. All rights reserved.