Streetbeat News

CCJ

Cameco Corporation

https://www.cameco.com

Industry

Uranium

Cameco Corporation produces and sells uranium. It operates through two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as 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. This segment also produces fuel bundles or reactor components for CANDU reactors. The company sells its uranium and fuel services to nuclear utilities in the Americas, Europe, and Asia. Cameco Corporation was incorporated in 1987 and is headquartered in Saskatoon, Canada.

Open

53.75

Mkt cap

23B

Volume

3.8M

High

54.07

P/E Ratio

276.53

52-wk high

58.72

Low

51.84

Div yield

0.00

52-wk low

35.43

Cameco (NYSE:CCJ) reported Q1 2024 earnings of C$0.13 per share, missing the C$0.28 estimate by 53.57%, and a 51.85% decrease from last year's earnings. Sales were C$634M, missing the C$828.503M estimate by 23.48%, and a 7.71% decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:00 am

The White House is considering a ban on imports of Russian uranium as a House bill targeting the same issue stalls. Discussions are ongoing about prohibiting Russian reactor fuel imports, which could have significant implications for energy and national security policies.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 7:24 pm

Goldman Sachs forecasts a significant increase in U.S. power demand due to AI data centers, projecting a 15% CAGR from 2023-2030. This growth is expected to raise data centers' power demand to 8% of total U.S. demand by 2030. Approximately 47 GW of additional power generation capacity will be needed, with an estimated $50 billion in capital investment. Goldman Sachs has identified 16 stocks across various sectors as beneficiaries of this trend, including utilities, clean technology, and industrial tech.

Portfolio Pulse from Piero Cingari

April 29, 2024 | 4:37 pm

CIBC analyst Oscar Cabrera has maintained an Outperformer rating on Cameco (TSX:CCO) and raised the price target from C$72 to C$74.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 5:50 pm

Three energy stocks, Marathon Petroleum Corporation (MPC), NRG Energy, Inc. (NRG), and Valero Energy Corporation (VLO), are among the S&P 500's top 10 performers in 2024, driven by a 20% increase in oil prices tracked by the United States Oil Fund (USO) and a forecasted average Brent crude oil spot price of $89 per barrel. The Energy Select Sector SPDR Fund (XLE) has also seen a significant 16% increase year-to-date. Several large-cap U.S. energy companies, including Exxon Mobil Corp. (XOM), Chevron Corp. (CVX), and others, are set to report their Q1 2024 earnings by the end of April.

Portfolio Pulse from Piero Cingari

April 09, 2024 | 8:18 pm

Smart money investors have shown a significant bullish interest in Cameco (NYSE:CCJ) options, with a notable volume of trades indicating a target price range of $33.0 to $55.0. The analysis of options trades over the last 3 months reveals a 60% bullish and 40% bearish sentiment among big-money traders. Significant trades include bullish calls with strike prices ranging from $46.00 to $50.00. Cameco, a major uranium producer, has seen its stock price slightly increase by 0.25% to $47.8, with analysts from Goldman Sachs setting a target price of $55.0.

Portfolio Pulse from Benzinga Insights

April 03, 2024 | 4:46 pm

Cameco's stock price increased following Goldman Sachs' initiation of coverage with a Buy rating and a price target of $55.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 4:18 pm

Goldman Sachs analyst Neil Mehta initiates coverage on Cameco (NYSE:CCJ) with a Buy rating and a price target of $55.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 4:15 pm

U.S. oil companies, including Diamondback Energy Inc., are exploring the use of small nuclear reactors to power operations in Texas's Permian Basin. This initiative, led by a nonbinding letter of intent with Oklo Inc., aims to reduce carbon emissions and ensure reliable electricity. Oklo's advanced fission reactor technology is also being discussed with other oil firms.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 3:30 pm

Rick Rule, a seasoned investor in natural resources, emphasizes the importance of contrarian investing in the volatile mining sector. He highlights the cyclical nature of these industries and the necessity to invest in commodities priced below production costs. Rule notes the recent boom and subsequent decline in Uranium prices, suggesting the easy money has been made. He recommends Cameco Corp (CCJ) for investors interested in Uranium. Rule also believes oil and gas remain lucrative despite market skepticism, citing the minimal impact of alternative energies on hydrocarbon market share.

Portfolio Pulse from Natan Ponieman

March 24, 2024 | 6:00 pm

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