Why Shares of Uranium Miner Cameco Rocketed 24% This Week

Why Shares of Uranium Miner Cameco Rocketed 24% This Week

What happened

Uranium mining stock Cameco (NYSE: CCJ) was on fire this week, gaining 24.2% as of 2:30 p.m. EDT Friday, making it one of the biggest weekly gains for the stock so far this year.

There’s so much happening in the uranium industry that bulls in Cameco haven’t been this excited in a long time. So what

To start, Cameco shares won two big analyst upgrades this week. RBC Capital raised its price target on Cameco significantly to 26 Canadian dollars ($21) per share from CA$17 ($14) per share, backed by rising uranium spot prices and improving sentiment in the uranium industry. Just days ago, GLJ Research increased its price target on Cameco stock to CA$38 ($30) a share from CA$27 ($21) a share. GLJ believes entry of exchange-traded fund (ETF) The Sprott Physical Uranium Trust Fund (OTC: SRUU.F) into the industry is a massive potential catalyst.I second the […]

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