From Canada's Financial Post via MSN, August 29:
Canadian uranium producer Cameco warned this week that production at one of its mines might come up short, which may not necessarily be bad news for shareholders. Meanwhile, analysts parsed through the Big Six bank earnings and crunched some numbers to come up with new price targets, plus we look at two Canadian retail stalwarts that got share price upgrades.
Stock of the Week: Cameco Corp.
Analysts at BMO Capital Markets and TD Securities think Canadian uranium producer Cameco Corp. (TSX:CCO) is poised to break out of the range it has been stuck in since late July after gaining nearly 110 per cent over the last four months as the case for building nuclear energy facilities gains more traction. Alexander Pearce, a metals and mining analyst at BMO, upgraded his price target for Cameco to $120 from $110. The stock is currently trading around the $106 dollar mark and had been a bit range-bound after hitting a high of $109.10 on July 25. Pearce hiked his target based on a potential uranium shortage after Cameco this week reported lower than expected production at its McArthur River mine. The World Nuclear Symposium is set to take place next week, which the BMO analyst views as “the positive catalyst needed for increased contracting and another leg-up in sentiment.” TD analyst Craig Hutchison maintained his price target of $117 “based on historical precedent where industry-wide shortfalls typically result in higher spot uranium prices and corresponding positive reaction for uranium equities.”....
....MORE (other Canadian issues)
In pre-market trading the stock is down $1.18 (-1.52%) following a $1.24 (-1.58%) decline on August 29. $76.21 last.
And from TradingView six months of price action:
It is up 93% over the period.
