1. Cameco Corporation (NYSE:CCJ)
Short Percentage of Shares Outstanding: 1.42%
On June 29, RBC Capital raised its price target on Cameco Corporation (NYSE:CCJ) to C$175 from C$160 while maintaining an Outperform rating on the shares. The firm believes Cameco is exceptionally well-positioned to benefit from strengthening uranium market fundamentals, supported by improving pricing dynamics and growing global demand for nuclear energy. RBC also pointed to robust purchasing activity from sovereign entities and electric utilities, contract pricing that remains stronger than publicly reported figures, and supportive government policies in both the United States and Canada aimed at accelerating nuclear reactor deployment. Together, these factors are expected to provide a favorable backdrop for sustained growth in the uranium market.
Earlier, on June 1, Cameco Corporation (NYSE:CCJ) and Orano Canada announced an agreement with Tepco Resources to acquire Tepco’s 5% participating interest in the Cigar Lake Joint Venture. Upon completion of the transaction, Cameco’s ownership stake in the high-grade Cigar Lake uranium mine in northern Saskatchewan will increase to approximately 57.4%, further strengthening its position in one of the world’s premier uranium-producing assets. Cameco’s portion of the acquisition is valued at approximately $115.75 million, subject to customary adjustments, with the transaction expected to close during the third quarter of 2026 following regulatory approvals and other standard closing conditions.
Founded in 1988 and headquartered in Saskatoon, Canada, Cameco Corporation (NYSE:CCJ) is one of the world’s largest uranium producers, exploring for, mining, and processing uranium used to generate carbon-free nuclear electricity. The company also owns a 49% interest in Global Laser Enrichment, which is developing third-generation laser enrichment technology capable of producing High-Assay Low-Enriched Uranium (HALEU) for advanced nuclear reactors.
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