What happened
Uranium prices are in a funk — down 12% over the past week, and down 15% from their recent highs of mid-September — but don’t try to tell that to uranium investors.
As of 12:50 p.m. EDT Wednesday, shares of uranium mining company Cameco (NYSE: CCJ) surged 8.5%, followed in close succession by Uranium Energy (NYSEMKT: UEC), up 7.6%; and Uranium Royalty Corp (NASDAQ: UROY), up 4.9%. So what
What’s got uranium investors all hot and bothered today? In a word: Cameco — and the upgrade that uranium stock just received from Bank of America . As TheFly.com reports today, BofA upped its rating on Cameco stock from neutral to buy, and raised its price target on the shares to 40 Canadian dollars (about $32.23). That’s about 18% above where Cameco stock trades right now.As the analyst explained, Cameco hasn’t been a particularly strong profits performer lately. (In […]
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