RY 167.35 0.5467% TD 87.16 0.6699% SHOP 114.42 1.4722% CNR 155.62 0.4259% ENB 55.85 0.6306% CP 109.89 -0.1091% BMO 123.0 0.0651% TRI 228.4 -0.3751% CNQ 49.83 0.4435% BN 72.45 1.2296% ATD 73.62 -1.0484% CSU 4323.3101 0.1958% BNS 71.22 -0.3916% CM 82.35 0.3779% SU 53.7 0.2053% TRP 61.7 1.2305% NGT 71.55 -0.6526% WCN 248.14 1.0877% MFC 40.83 0.2701% BCE 45.71 -0.1311%
Section1: Company Overview
Cameco (TSX: CCO) is one of the world's largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities. This Report covers the Investment Highlights, Key Financial Metrics, Risks, Valuation, Target Price, and Recommendation on the stock.
1.1 The Key Investment Highlights, and Risks
Section2: Financial Highlights
2.1 Key Financial Highlights
Section 3: Stock Recommendation Summary
3.1 Valuation Methodology
3.2 Price Performance and Stock Recommendation
The stock has witnessed an upside of ~27.91% in 3 months and an upside of ~56.06% over the last 6 months. The stock has a 52-week high and 52-week low of CAD 59.40 and CAD 28.98 respectively and is currently trading slightly above the average of 52-week high-low average providing an opportunity to exit, as the prices are approaching the resistance level. Cameco Corporation (TSX: CCO) was last covered in a report dated ’03th October 2023’.
3.3 One-Year Technical Price Chart
One-Year Technical Price Chart (as of November 03, 2023). Source: REFINITIV, Analysis: Kalkine Group
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, and currency as of November 03, 2023. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Disclaimer
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