Shares of Cameco Corporation (NYSE:CCJ) traded at a new 52-week high today of $30.13. So far today approximately 2.9 million shares have been exchanged, as compared to an average 30-day volume of 9.9 million shares.
In the past 52 weeks, shares of Cameco Corporation have traded between a low of $15.34 and a high of $30.13 and is now at $29.93, which is 95% above that low price.
Cameco is one of the world’s largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.
Cameco Corporation has overhead space with shares priced $29.93, or 2.8% below the average consensus analyst price target of $30.81.
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