Cameco Did Alright In 2020, Set To Do Much Better In Coming Years

Cameco Did Alright In 2020, Set To Do Much Better In Coming Years


Because uranium is a non-cyclical commodity, Cameco and other uranium miners did alright last year despite all the upheaval.

Between utilities drawing down their nuclear fuel stockpiles and new reactors being built around the world, global mined uranium demand is set to increase significantly in coming years.

In anticipation of higher demand going forward, the spot uranium price did bottom half a decade ago. Uranium prices need to go much higher in order to stimulate more production. Cameco is set to benefit from higher prices, given its ample economic reserves, an ability to produce uranium profitably, as well as its capacity to increase mined production in response to higher prices. When I first mentioned that uranium prices may have bottomed half a decade ago, there were many people who doubted that it could happen. I did buy some Cameco (NYSE: CCJ ) stock soon after I called what […]

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