#3 - Cameco (NYSE:CCJ)
Cameco Corp. (NYSE: CCJ) is one of the world’s largest publicly traded uranium companies. Businesses are wrestling with the need for more power to support the insatiable demand coming from artificial intelligence (AI). That's leading to a larger conversation about nuclear energy and uranium.
The big payoff from nuclear is more than a decade away, but that’s why investors should buy picks-and-shovel stocks like Cameco today. This is reflected in the CCJ stock price, which has shot higher by more than 39% after missing earnings expectations in its July earnings report.
However, the company posted a top-line gain of 25% and is forecasting more revenue growth in future quarters. Analysts have a consensus price target of $66.56 for CCJ stock, which is a 25% increase from its current price. Cameco stock is up 23% in 2024, and it has generated a strong total return of over 446% in the last five years.
About Cameco
Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.
Read More - Current Price
- $53.86
- Consensus Rating
- Buy
- Ratings Breakdown
- 7 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $66.56 (23.6% Upside)
