On today’s Breakouts report, there are 21 stocks on the positive breakouts list , and 18 securities are on the negative breakouts list .). Cameco is the second-best performing stock in S&P/TSX Energy Index with a year-to-date gain of 35 per cent. The share price has rallied 14 per cent over the past four trading sessions, closing at $41.53 on June 5, up from $36.29 on May 30. As a result, the positive price momentum may pause in the near-term in order to digest these rapid gains.
A brief outline on Cameco is provided below that may serve as a springboard for further fundamental research when conducting your own due diligence.Headquartered in Saskatoon, Cameco is one of the largest providers of nuclear fuel products worldwide. Cameco has mines in Saskatchewan - Cigar Lake and McArthur River/Key Lake . In addition, Cameco has a 40-per-cent ownership in the Inkai mine located in Kazakhstan.
Healthy balance sheet. At quarter-end, Cameco had $2.5-billion in cash, cash equivalents and short-term investments and $1 billion in long-term debt. In Remarks made on May 17 at Bank of America Securities Global Metals, Mining and Steel conference, Cameco’s chief financial officer Grant Isaac: “Here’s the cheat-sheet on what you have to look for as an investor to anticipate where demand is going in the uranium side of the nuclear fuel cycle…Utilities can delay, they can defer, but they ultimately cannot avoid buying this material... Between now and 2040, 2.