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Super Spike Advisory refreshes Cameco buy

2022-12-09 20:03 ET - In the News

The Super Spike Advisory, in its Nov. 24, 2022, issue, refreshes its buy of Cameco Corp. (recently $32.47), officially, Continue to buy up to $40. The newsletter said buy the big uranium player six times between Dec. 15, 2010, and Aug. 24, 2022, at prices ranging from $9.64 to $38.40. Assuming an investment of $1,000 for each of the six buys, the $6,000 holding is worth $9,351. The writer notes that Cameco is the largest uranium miner in North America and the newsletter's favourite uranium player. Last month, Cameco was responsible for a major piece of news in the nuclear industry. It released a plan to buy 49 per cent of the nuclear utility Westinghouse Electric. Westinghouse is a leader in supplying and servicing nuclear plants and is responsible for nearly half of the global nuclear fleet. The writer says this deal is strategic for Cameco. The company will expand its presence deeper in the uranium supply chain which, in return, will secure sales of its nuclear fuel. This complex transaction involves Brookfield Renewable Corp. The total value of Westinghouse is $7.9-billion; Cameco's share of the deal is $2.2-billion. Given this development, and given rising demand for uranium, Cameco may soon restart its mines.

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