Why Cameco Corp. Is Bound to Recover
Thursday, January 12, 2017 at 10:05PM
Uranium Stocks

Cameco Corp. (TSX:CCO)(NYSE:CCJ) has had more than its fair share of troubles over the past few years. The beleaguered uranium miner has struggled because of weak uranium prices. Several years ago, uranium sold for approximately US$70 per pound, whereas the price per pound of uranium currently sits near US$20.

Fortunately, there are growing signs that a recovery may finally be underway

What caused uranium prices to tank?

Back in 2011, Japan, like many other advanced nations, had a fleet of nuclear power plants that were reliant on the uranium that Cameco mines. Nuclear power was widely regarded as an inexpensive way to generate huge amounts of power to meet the growing electricity needs of countries around the world. Japan had 43 such reactors.

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Year to date Cameco is up 20% - I hate to excited about it but just maybe this sector is going to perform.

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