Cameco Uranium Worth Another Look

Market Oracle reported Cameco Uranium (TSX:CCJ) may well be worth investing in within the next year.

As quoted in the market news:

Since our last update Cameco has consolidated further and the technicals are in favour of a buy – of note is the tantalizingly low RSI at 23.8.

Intuitively the fortunes of Cameco are directly tied to the price of uranium and this remains their biggest determinant of profitability. Over the last 20 years, reactors have consumed far more uranium than what was produced each year by mines. The shortfall was made up by inventories and secondary supplies that are being drawn down. Global demand for uranium is expected to rise 3% annually until 2019, driving the need for increases in supply.

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