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Cameco Ord Shs T.CCO

Alternate Symbol(s):  CCJ

Cameco Corporation is engaged in providing uranium fuel to generate clean, reliable baseload electricity around the globe. The Company also offers nuclear fuel processing services, refinery services and manufactures fuel assemblies and reactor components. Its segments include uranium, fuel services and Westinghouse. The uranium segment is involved in the exploration for, mining, milling, purchase and sale of uranium concentrate. The fuel services segment is involved in the refining, conversion and fabrication of uranium concentrate and the purchase and sale of conversion services. The Westinghouse segment is engaged in the nuclear services businesses. Its uranium projects include Millennium, Yeelirrie, and Kintyre. The Cree Extension-Millennium project is a Cameco-operated joint venture located in the southeastern portion of Canada's Athabasca Basin. The Yeelirrie deposit is located approximately 650-kilometer (Km) northeast of Perth and about 750 km south of its Kintyre project.


TSX:CCO - Post by User

Comment by retiredcfon Dec 14, 2023 9:50am
219 Views
Post# 35784198

RE:CIBC Raise Target

RE:CIBC Raise Target

Updating his price deck assumptions, CIBC World Markets analyst Bryce Adams said uranium is his “preferred commodity” moving forward.

“We continue to expect nuclear energy, a scalable, low-carbon energy source, to be key in reducing global dependency on fossil fuels as efforts to curb climate change persist,” he said.. In our view, Cameco offers investors Tier 1 assets, with premium jurisdictional exposure, a significant reserve base, and a strong balance sheet. Cameco’s investor day is scheduled for December 19.”

Coming off research restriction, Mr. Adams named Cameco Corp. ) as his “top pick” and raised his target for its shares to $72 from $68.50 with an “outperformer” rating. The average is $68.34.

“On our view, the Westinghouse transaction has elevated Cameco from a tier-one uranium producer with a strong uranium conversion business into a one-stop shop for utilities (and nations) looking for reliable nuclear fuel supply,” he said. “This transaction is a step change to Cameco’s outlook, and further extends its downstream uranium and nuclear capabilities. Cameco has created a wide moat within the nuclear energy space, and we now view Cameco as a go-to name in nuclear, compared to a go-to name in uranium prior to this transaction.”

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