Cameco Corporation (CCO.TO) Buy, Sell or Hold

Cameco Corporation (CCO.TO)

100.80

-1.57 (1.53%)

as of Nov 13, 2026, 9:00:00 pm Market Closed.

553 watching

DON'T BUY

Large political element to the nuclear industry. Sold off a lot because of Japan’s earth quake. CCO also had problems at cigar lake. He is steering clear of uranium stocks.

COMMENT

There are other uranium players that he finds more attractive. Feels the uranium market is going to surprise to the upside a little. There are fewer options available for power generation. (See Top Picks.)

DON'T BUY

His model price is $29.81, a 17% upside but he thinks it is going to consolidate here. If it broke below the $23-$24 level, he thinks it will go down to $18.50. At best it will trade sideways.

DON'T BUY

Seasonally this usually bottoms around the end of February through until May. Technical trend does not look good. Strong downward move and he can’t see it bottoming.

TOP PICK

Nuclear disaster in Japan has had a negative impact on uranium stocks but China and India are not going to stop building nuclear reactors. Long term buying opportunity.

DON'T BUY

There are a lot of dynamics going on with this company. Uranium is the one base metal that he has always had the most trouble judging the supply/demand because of the political element that gets involved. The event in Japan has probably postponed many projects for some time. In the long run, nuclear is going to be part of the solution.

HOLD

Got hurt badly with the Japanese nuclear problem. This has been deeply oversold, so far beneath the 200 day that it is mathematically impossible to go any lower. Support on a point and figure is around $23.

COMMENT

Suffered tremendously from the problems in Japan with the nuclear reactor and from Germany threatening to mothball nuclear reactors. Most of the nuclear plants will have to be refueled and will need uranium. He believes in nuclear power, but this could be a long time.

RISKY

Thinks a lot of speculators got into this name after Japan. Thinks there are a lot of speculators holding this stock now. There’s a lot of stock held in weak hands. He would buy it here if he was going to buy it. If it breaks $25, then it would go way down.

BUY

Depends on time horizon whether you get rid of it. 3-6 months, nothing will happen, but after that it should recover. Thinks it is undervalued. Similar to BP situation where stock got hammered. There will be demand for uranium. Good 6-12 month trade.

COMMENT

Had some operational problems, particularly at Cigar Lake. Q1 was a little disappointing with lower production and sales than what people expected. Japan’s setback will put a question mark over growth rate in the nuclear industry. Fairly good bet if you have a very long term view.

COMMENT

Sold his holdings after Japanese nuclear problems. Has put a permanent dent in prospects for nuclear energy because 1) a lot of older reactors that might have been extended in life will come under greater scrutiny and 2) more public scrutiny of new proposed reactors.

BUY

Uranium stocks were massively hurt in the last few months. Likes the space. Uranium fuel can't be replaced. Good value at this point. This company has long term contracts with China.

DON'T BUY

Just sold his holdings because he sees some uncertainty for the company and the prospects for uranium over the next 6-12 months.

BUY

This is a case where emotion has gotten in the way of reason. Global nuclear reactors are not going to be shut down. There will be a uranium shortage going forward. This is the power of the 21st century.

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Cameco Corporation (CCO.TO)