#4 - Cameco (NYSE:CCJ)
If Energy Fuels is too speculative for you, it could be a good time to consider Cameco Corp. (NYSE: CCJ), the world’s largest publicly traded uranium company. The Canadian-based miner focuses helping convert uranium into fuels.
CCJ stock is up about 12% in 2024, but, since June, has been showing some weakening. This could reflect an oversupplied market. And at 34x forward earnings, investors are paying a premium for the stock.
Nevertheless, analysts continue to be bullish on CCJ stock. The consensus Buy rating comes with a $59.50 price target, which would be 22% higher than its price on July 8, 2024. Plus, Cameco is one of the few stocks in this space that pays a dividend. It’s not much to speak of, but it could be a reason for investors to hold the stock, particularly with it offering a respectable entry point below $50.
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
- $52.46
- Consensus Rating
- Buy
- Ratings Breakdown
- 7 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $66.56 (26.9% Upside)
