RE:If my math is rightYeah, except FCU is trading at around 40% of where it should be (somewhat fairly valued). So let's say for sake of argument it's trading at a third of where it "should" be.
Cameco market cap: 8.3 billion. This is not profit, nor even revenue, no it's market cap.
FCU fair value market cap: 1.5 billion?
That's quite a big meal, even for Cameco. Possible, but big. Let's not forget the famours Hathor was only a third of that value, and Cameco didn't wish to chase it any further. Yes it was less pounds and it was much deeper, but still... Don't count your chickens before they are hatched.
And that's really what FCU is at this moment, an egg. Unhatched. Some trade the egg from day to day, and maybe even hold a core position just in case, while others fully go into future-mode and wait for the egg to hatch. A more natural way.