Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199


Search Uranium Stocks
Uranium Price
Our RSS Feed

Uranium Updates

Enter your email address:

Follow Us on Twitter
« SK OptionTrader Closes 13 Trades, Banking 43% to 100% | Main | Strathmore Minerals Corporation: Up 20% Today »

Cameco Corporation Up 3.14% Today

CCJ Chart 12 Nov 2010.JPG

Cameco Corporation (CCJ) has put in another good day with a gain of 3.14%. However, there is a gap opening up between the 200dma and the stock price which needs to be watched. The RSI is standing at 83.14 which suggests that a breather is on the cards, along with the MACD and the STO which are also in the overbought zone.

On the 9th October, 2010 we wrote the following about Cameco's progress:

Also worthy of note is the 50dma which looks set to cross over the 200dma, in an upward motion. This cross over when it occurs is usually a positive indicator for the stocks progress.

As we can see on the chart at the top of the page this crossover has now taken place with the resultant positive effect.

Recent results for Cameco have also come through with some good news for investors such as production is up 17% year to date and the average unit cost of production has decreased by 13% The 2010 uranium production forecast has increased to 22 million pounds, Cigar Lake is on track and McArthur River and Key Lake have signed a four-year collective agreement.

Cameco CEO Jerry Grandey commented as follows on the results as follows:

"This year's operational success has continued into the third quarter, Production volumes are 17% higher than in 2009, while production costs are lower. Our $US realized prices have also risen, illustrating the strength of our contract portfolio.

As we advised earlier this year, revenues were lower in the third quarter due to the timing of uranium deliveries. We expect about one third of our uranium sales will be delivered in the fourth quarter.

We are on track to double our annual uranium production from existing assets by 2018. Our growth strategy is in place to ensure we remain among the world's leading uranium suppliers to those who choose to use safe, clean and reliable nuclear power."

Uranium production is expected to be 22 million pounds this year, compared to our previous estimate of 21.5 million pounds, with increased production at Rabbit Lake and Inkai.

To read this news release in full please click here.

Cameco Corporation trades on the NYSE under CCJ and on Toronto under the symbol CCO with a market cap of $14.70 billion. It has a P/E ratio of 26.41 and 52 week price range of $20.70 - $38.56.

On the skoptionstrading front some of our 'stops' were triggered this week sending us back into cash with some good profits, we will update the chart on the skoptionstrading site this weekend.

SK Chart 23 Oct 2010.JPG

The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.

So, the question is: Are you going to make the decision to join us today?

Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.

To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. (Winners of the GoldDrivers Stock Picking Competition 2007)

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.
Author Email (optional):
Author URL (optional):
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>