Cameco Raising $1 Billion Points to Takeover

Mining Weekly reported Cameco (NYSE:CCJ,TSX:CCO) is looking to raise $1 billion in the next year creating speculation that the company is looking to takeover smaller uranium miners.

As quoted in the market news:

While the market turmoil was making business tough for smaller firms – not to mention the hangover the nuclear sector is still suffering from the Fukushima Daiichi tragedy – for companies with financial firepower, it was creating opportunities, Ortslan commented.

Analysts at New York-based Dahlman Rose pointed out that Cameco already had “ample” cash and short-term investments available – around $1.4-billion at the end of March – meaning it did not need to raise an extra $1-billion for the normal course of business.

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