Why Cameco Stock Rocketed as Much as 22% Today

What happened

Shares of uranium miner Cameco ( NYSE:CCJ ) rose as much as 22% in early trading on Monday. The big news doesn’t appear to be related to any Reddit board, but to a more mundane Wall Street phenomenon: an analyst update. So what

Pure-play uranium miners like Cameco have been struggling through a period of very low uranium prices, following the Fukushima reactor meltdown in Japan. Although the energy commodity’s price has picked up somewhat over the last year, it remains well below peak levels. A part of the problem is that, despite the fact that nuclear power does not produce carbon emissions, it is often maligned as an undesirable option. Large disasters, while rare, are the main culprit for that. Image source: Getty Images. However, Bank of America (NYSE: BAC) has suggested that the closure of U.S. nuclear power plants may be delayed past 2030. That […]

Click here to view original web page at www.fool.com

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.