Bullboard - Stock Discussion Forum Cameco Ord Shs T.CCO

Alternate Symbol(s): CCJ

Metals & Mining Industrial Metals & Minerals

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... see more

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Cameco Ord Shs > CCO Cut:

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Post by spurwing2 on Feb 11, 2021 12:06pm

CCO Cut:

Cameco cut at BofA on valuation after earnings surprise

Feb. 11, 2021 11:37 AM ETCameco Corporation (CCJ)By: Carl Surran, SA News Editor2 Comments

Cameco (CCJ -2.7%) surrenders a slice of yesterday's 8% gain that followed stronger than expected Q4 results and an upbeat outlook on the uranium market.
Bank of America downgrades Cameco to Neutral from Buy with a $17.50 price target on valuation, saying the stock appears to be discounting a U3O8 price of $52/lb. vs. current spot prices ~$29.50.
BofA analyst Lawson Winder likes Cameco as "by far the largest, most liquid Western uranium producer at a time when uranium fundamentals are improving," but he thinks prices over $50/lb. - while possible - are "unlikely in the near to medium term on the current supply/demand outlook."
Also, RBC analyst Andrew Wong sees limited upside potential for uranium prices and expects negative near-term cash flow for Cameco due to curtailment related costs; he rates the stock at Underperform with a C$15 price target.