Do future price gains at Cameco Corporation (CCJ) appear likely?

Cameco Corporation (CCJ) stock has been rallying, as indicated by its 200-day and 20-day moving averages. CCJ shares have risen 18.84% over the past 30 days. For the past 12 months, the stock has moved up 64.70%, lagging behind the market by 72.61%. The company has also trailed competitors and similar names by 166.36%.

Top 5 Tech Stocks to Buy in 2024

Don't let the chaos of rising interest rates, potential recession, tighter credit issues, higher oil prices, and incessant geopolitical issues chase you from the markets. Instead, just wait it out. With too much fear in the market, go bargain hunting with tech stocks. We have complied a report with the five of the best ways to profit within this industry. "Top 5 AI Stocks to Buy in 2024."

Click here to sign up for our free report & newsletter, plus bonus offer "Elon Musk just Tiggered a BOOM in These Stocks"


This week, Cameco Corp. (NYSE: CCJ) saw a positive jump in its share price. Bank of America analysts anticipate a temporary rise in demand for uranium fuel, so they recommended the buy.

Meanwhile, Bank of America believes it is plausible to extend American nuclear power plants’ lives by up to 100 years, that is, until 2069. Cameco’s products will be in higher demand as a result. Regulators are in the process of discussing the possibility of an extension of the operational horizon, which is currently 2030.

Among the biggest producers of uranium globally, Cameco Corporation (CCJ) is increasing its market share as competitors leave. More specifically, Cameco has increased its stake in a joint venture that enriches uranium to 49%. Cameco will benefit from this development and will net new orders if the old reactors continue to operate.

Although it is still important to keep in mind that the decision could go the other way, and the Joe Biden administration may reject the effort to extend the nuclear power plant’s operations. A growing number of renewable energy sources can provide stable energy prices under 20-year or more extended contracts. Furthermore, the military presence has a surplus of weapons-grade plutonium, which implies that the nuclear power industry’s main advantages have already changed significantly over the past 50 years.