It's one of my favourite ways to invest in the resource sector - and apparently billionaire Steven Cohen agrees with me. The stock is Cameco Corporation (TSX: CCO)(NYSE: CCJ), the world's largest uranium producer. Cameco is an odd bet because the ...
Canadian uranium producer Cameco Corp and the United Steelworkers union, which represents 535 workers at the world's largest uranium mine and mill, have agreed to a tentative deal ending a nearly two-week lockout, a union official said on Friday.
The last bull run in uranium prices resulted in Cameco Corporation's (TSX: CCO)(NYSE: CCJ) stock nearly tripling, but these gains evaporated, with the stock crashing in the aftermath of the 2011 Fukushima nuclear disaster.
This is exactly what happened to Cameco Corporation (TSX: CCO)(NYSE: CCJ) a few years ago. When the Fukushima Daiichi reactors had problems and released significant radiation, the entire world grew concerned about uranium and backed away from it.
Cameco Corporation (TSX: CCO) (NYSE: CCJ) has navigated through stormy weather in the global uranium market over the past few years, and investors can be forgiven for turning the lights out on the stock.