Do you own a uranium stock? The segment has taken off in recent months. But is this rally a temporary blip on the radar or a sign of bigger things to come? Let’s look at whether Cameco (TSX:CCO) (NYSE:CCJ) in particular finally warrants a place in your portfolio. Uranium prices are on the move: Why does this matter?
The spot price for uranium has stayed over US$40 per pound since September. In fact, the price is now over US$45 per pound. This brings uranium miners such as Cameco closer to profitability. Additionally, it also starts the process of erasing nearly a decade of depressed pricing and weak demand.
To put that into context, it was nearly a decade ago that that uranium traded north of US$45. In the aftermath of the 2011 Fukushima disaster, demand for nuclear power and, by extension, uranium dropped dramatically. A series of new reactors […]
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