#2 - Cameco Corporation (NYSE:CCJ)
Cameco Corporation (NYSE: CCJ) is the world’s largest publicly traded uranium company. The company has active mining projects in Canada, the United States, and Kazakhstan, as well as additional exploratory projects in Australia. Cameco’s tier-one assets hold more than 485 million pounds of proven and probable uranium reserves.
Cameco has average committed sales of 29 million pounds between 2024 and 2028. The company’s two largest projects, which are in Canada, can produce a maximum of 43 million pounds per year. And Cameco says both projects could deliver more output without adding much cost.
Two distinguishing characteristics of Cameco’s business model are its controlling interest in its low-cost mines, which produce high-grade uranium, and its environmentally friendly mining method.
Cameco also has a strategic partnership with Brookfield Asset Management Ltd. (NYSE: BAM) that gives the company a 49% interest in Westinghouse Electric Company. This will be a key strategic move as demand for nuclear reactors is likely to increase.
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
- $50.22
- Consensus Rating
- Buy
- Ratings Breakdown
- 7 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $66.56 (32.5% Upside)
