Why Cameco Stock Rocketed 43% in the First Half of 2021

Why Cameco Stock Rocketed 43% in the First Half of 2021

What happened

After a heady run-up in the last month of 2020, shares of uranium mining giant Cameco ( NYSE:CCJ ) continued their momentum into 2021 and gained a whopping 43.1% in the first half of the year, according to data provided by S&P Global Market Intelligence .

A general sense of optimism in the uranium market and a new emerging trend in the industry that’s helping support uranium prices were some of the biggest factors driving Cameco shares higher. So what

In early February, Bank of America suggested that the U.S. may not close aging nuclear plants before 2030 as it plans. As that could mean greater demand for the key nuclear fuel uranium, uranium stocks soared on the speculation, with Cameco shares gaining big given its leadership position in the industry. Days later, Cameco reported strong fourth-quarter numbers and decided to keep production suspended at its key mine, […]

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.

Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet