05:40:49 EDT Fri 31 Mar 2023
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or Name

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Cameco Corp
Symbol CCO
Shares Issued 398,436,837
Close 2022-09-08 C$ 39.52
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Super Spike Advisory upgrades Cameco to "buy"

2022-09-08 21:29 ET - In the News

Super Spike Advisory, the renamed International Speculator, in its Aug. 24, 2022, edition, upgrades Cameco Corp. (recently $32.36), to "buy" from "hold." The newsletter said buy the big uranium player five times between Dec. 15, 2010, and Sept. 21, 2018, at prices ranging from $9.64 to $38.40. Assuming an investment of $1,000 for each of the five buys, the $5,000 holding is worth $8,317. The writer notes that Cameco is the West's largest public uranium miner. It booked $557.6-million in revenue and $84-million in net income. That is a 55-per-cent gain in revenue and a big increase from $36.8-million in net loss over the same quarter last year. Years of low uranium supply are finally pushing prices higher. This will persist, and Cameco will directly benefit from it. In a year, uranium prices went from $30 (U.S.) to $50 (U.S.) per pound. It helped the company get back to profits and gain 54 per cent in share prices. Another bullish sign for the company was securing more long-term contracts for nuclear fuel. These are crucial for the uranium producers, as they provide confidence in sales and prices. So far this year, Cameco has assigned 45 million pounds of uranium in long-term contracts, with more sales on the way.

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