#5 - Cameco Corp. (NYSE:CCJ)
Cameco Corp. (NYSE: CCJ) is a mining stock of a different kind. The company is the world’s largest publicly traded uranium miner at a time when uranium prices are likely to move sharply higher due to a demand spike as nuclear energy is having a revival.
Nuclear energy is one of the only forms of truly clean energy. However, a key reason for the revival in nuclear energy demand is more practical. Data centers continue to grow along with the demand for AI applications. This will require a massive amount of energy delivered 24/7. And expanding electrical capacity to meet the needs of electric vehicles will be another growth driver.
CCJ stock is a momentum stock that is up 30.6% in 2024. However, that growth still appears to be lagging behind the anticipated 95% growth in earnings in the next 12 months. That’s why the $66.56 consensus price target for the stock may be moving higher in coming months.
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
- $57.50
- Consensus Rating
- Buy
- Ratings Breakdown
- 7 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $66.56 (15.8% Upside)
