Global uranium stocks have struggled in recent months, although Canadian-based heavyweight Cameco was trading at an all-time high in December, when local stocks were already a year into their demise. CCJ will release its earnings tonight with Bloomberg consensus expectations for the quarter of EPS 0.20 on revenue of CAD 746.2mn. The stock is well-liked with 19 Buys and 1 Hold on the stock, with an average price target of $83.15 – it needs a decent result tonight to reward this faith. Their earnings call will be fascinating with so much going on in the space between the US and Canada.
- We believe the recent pullback is overdone and a retest of $US50 looks likely: MM is long CCJ in its International Equities Portfolio.
MM is long and bullish Cameco
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