#4 - Cameco Corporation (NYSE:CCJ)
Another commodity-related stock flashing oversold signals is Cameco Corporation (NYSE: CCJ). This is the world’s leading uranium miner and demand for uranium is expected to grow rapidly as nuclear power continues to gain acceptance. While some may believe that the future price of uranium will depend on who holds the Oval Office in 2025, it’s not likely to matter at all.
CCJ stock is down about 9% from its all-time highs set in early May. For some investors, this was a time to take some profits and make room for higher highs.
But why is the stock showing signs of being oversold now? Cameco missed on both revenue and earnings in its second-quarter earnings report on July 31. However, both numbers were significantly higher on a YOY basis.
Analysts haven’t weighed in on Cameco’s earnings yet. However, the stock already has a consensus price target of $59.50, which is 34% higher than the price heading into earnings.
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
- $53.59
- Consensus Rating
- Buy
- Ratings Breakdown
- 7 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $66.56 (24.2% Upside)
