Cameco Corp Stock Price Sees Significant Increase
Cameco Corp’s stock price has increased, with analysts revising their price target to CAD 105 from a previous estimate of CAD X.
Reasons for the Increase
The upward trend in Cameco Corp’s stock price is attributed to the growing demand for clean power. This is driven by the increasing need for reliable baseload nuclear power, particularly from tech giants powering artificial intelligence data centers.
Market Developments
The uranium market has seen a significant rally. Toronto-based asset management firm Sprott has announced a purchase of physical uranium, which has further boosted Cameco Corp’s stock price.
Key Statistics
- Analysts’ revised price target: CAD 105
- Previous analyst estimate: CAD X
- Sprott’s purchase of physical uranium: significant