Is Cameco Stock a Buy Now?
Shares of (NYSE: CCJ) have been on a rocket ride over the past three months or so, gaining a massive 50%-plus in a very short period of time. Is that a warning sign that Wall Street is baking in overly optimistic expectations or is the miner set to see a material improvement in its business over the coming years? There's a lot to unpack before you run out and buy Cameco stock right now.
At its core, Cameco is a miner. Mining is a very capital-intensive business, given the cost of finding good places to build a mine, getting the approval to build a mine, building and operating a mine, and then, ultimately, returning the mine site back to its original state once the mine is closed. Complicating things a great deal is the fact that most miners produce commodity products, so their revenue and earnings are heavily impacted by often volatile commodity prices.
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Source Fool.com
Cameco Corp. Stock
The stock is an absolute favorite of our community with 21 Buy predictions and no Sell predictions.
With a target price of 68 € there is a slightly positive potential of 9.66% for Cameco Corp. compared to the current price of 62.01 €.
