Cameco shares hit a record as US looks to boost national uranium stockpile

7 months ago 18

RoboForex - professional services on Forex market

Comments from the US Energy Secretary boost uranium names

Investing in uranium and nuclear power has been one of the great post-covid trades.

A re-think of nuclear power as a green alternative was long overdue and it was compounded by AI power demand, making it something of a super-trend.

Just now, US energy secretary Chris Wright said the US is looking to boost its uranium stockpiles and that's lifted shares of Canadian uranium miner Cameco to a record high.

Shares of the company are now up 16x from the covid lows. The latest move is a breakout from a textbook megaphone pattern but we're now close to the measured target. Spot uranium prices are still well-below the January 2024 highs.

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