This is the world’s largest uranium company, and its shares were just upgraded at BofA to ‘Buy.’
Cameco Corporation (CCJ)
From The Personal Capitalist
Nuclear power is one of the best climate change solutions and yet it has been demonized as unsafe because of earlier accidents. Significant advances in nuclear power plant design has improved efficiency and safety, and largely ignored. Regardless, plants are being built. China, for instance, is a large source of growth, and as of June of this year, generates power from 50 reactors. It has announced plans to build 150 new civilian reactors until 2035. Many micro reactors are being tested in the U.S. alone.
CCJ is one of the largest global providers of uranium, needed to fuel the reactors. It has the theoretical mine capacity to produce more than 53 million pounds of uranium concentrates annually and has about 455 million pounds of proven and probable uranium reserves.
Looking at the stock, it is trading up from its 52-week low of $9.32 to almost $28 today—a 200% increase. Investors are beginning to take note, as seven analysts covering the stock give it a good rating. Three rate it as a “Strong Buy,” two as a “Buy,” and two as a “Hold.”
Sean Christian, The Personal Capitalist, 9524 East 81st Street, Suite B #1715, Tulsa, OK 74133, November 15, 2021
Nancy’s Note: Happy Thanksgiving everyone!