Should You Buy Cameco While It's Below $110?
(NYSE: CCJ) is the largest publicly traded producer of uranium, the fuel that is used by nuclear power plants. It has a long and largely successful history behind it. Cameco is a solid "picks and shovels" play for those interested in investing in nuclear power. But is it worth buying the stock now that it has pulled back from its 52-week high of $110 per share? It depends.
For the most part, Cameco is a uranium miner and processor. It produces the fuel used by the nuclear power industry. Given that the vast majority of its operations are in politically and economically stable regions, it is an attractive partner for the industry. However, uranium is a commodity, and mining is still a challenging and costly endeavor.
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Source Fool.com
Cameco Corp. Stock
The stock is one of the favorites of our community with 32 Buy predictions and 1 Sell predictions.
On the other hand, the target price of 96 € is below the current price of 101.28 € for Cameco Corp., so the potential is actually -5.21%.
