Rising Uranium Prices Power Cameco (CCJ)
"Cameco (NYSE: CCJ) is a Canadian miner and the second largest producer of uranium in the world," says Brendan Coffey.
The editor of the Cabot Green Investor explains, "However, the company is more than just a uranium miner. It also operates further up the nuclear supply chain, and has a goal of continuing to expand its related services.
"The company delivered 16% of world demand in 2009 and is aiming to double production by 2018. It has 'proven and probable' uranium reserves of 480 million pounds, enough to meet nearly three years of current global demand.
"Uranium prices have been rising recently and demand is expected to rise. Right now, uranium fetches $53 a pound, up from a four-year low of $41 in March of this year. When energy prices were surging in mid-2007, uranium had rallied to $136 a pound.
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