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  5. CCO: Hi Guys! [Cameco Corporation]
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Investment Q&A

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Q: Hi Guys!

I see CCJ is once again inching up (about 10% in a few weeks).

Could you give me your thoughts on the company right now and Uranium? Do think it’s ready to pop back up to what many say will be in the 70.00 US range?

Ok thank you!
Asked by Robert on March 21, 2025
5i Research Answer:

Uranium is bouncing off recent weakness. We think the long term outlook is good, but the short term perhaps a little more mixed and uncertain. CCO/CCJ is not cheap at 47X earnings, but of course has potential with rising prices and does have very high market share within the sector. The balance sheet is OK, and very strong EPS growth is predicted for 2025 and 2026. It is not perfect but would remain our top choice for sector exposure. $70 US$ would be a 56% return and not something we would count on in the short term, but it should be able to work higher from current levels, assuming earnings do come in as expected. Much of its business is under contracts, so revenue visibility in the short term should be fairly good.