*Uranium producer Cameco was downgraded yesterday by TD Securities analysts. Today financialbuzz (a PR newsletter) wrote up CCJ which it rightly said had growth in its earnings in the March qaurter from prior year.
Moreover today Steve Halpern used my article about Cameco as the lead article in the MoneyShowDigest, a respected blog, headed Today's Best Investment Ideas. So CCJ gained nearly 2%. Part of the reason is the syncrude refinery outgage which, ironically enough, uses tarsands from the Athabasca Basin, This is also where the world's largest uranium deposits are mined by Cameco.
Steve quoted my writing that “the easiest path to casrbon cutbacks is nuclear-fueled power production. Offsetting this is fear of radioactivity.. which has been greatly exaggerated.” I called Cameco “my current investment favorite, a stock which dominates its industry and whose good results are being discounted because of worries about potential risks which are being overstated.”
Finally today TDS reiterated its C$16.50 target price for CCJ.
Comments
Log in or sign up to join the conversation.