- Cameco (CCJ) has climbed nearly 10% in five weeks, but BMO analyst Edward Sterck doesn't see more upside ahead and downgrades shares to Market Perform from Outperform; he says the stock is priced at a uranium price of $48-$65/lb., far above the current mid-$30s where it has been mired for months.
- On the other hand, Sterck is optimistic about uranium, and notes CCJ's stock price usually moves in advance of the uranium price, "which could provide a further indication that that an increase in the uranium price may be imminent."
- ETFs: URA, NLR, NUCL.
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