) shares climbed on Friday, pushing the Canadian uranium producer's stock closer to a fresh all-time high amid a rally for nuclear fuel prices.
"Cameco is likely to trade at the high end of historical ranges," Eight Capital analyst Ralph Profiti wrote in a recent note to clients, in which he boosted his target price from $52 per share to $60. According to CME Group, UxC Uranium U3O8 Futures for September 2023 are priced at US$66.25 per pound. In 2007, spot prices peaked near US$140.in recent years, with governments from Japan to Germany revising plans to phase out nuclear power. The World Nuclear Association says demand from reactors is expected to climb 28 per cent by 2030, and double by 2040.
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Stock market today: Asian shares mixed after interest rates-driven sell-off on Wall StreetAsian shares were mixed on Friday after another slump on Wall Street driven by expectations that U.S. interest rates will stay high well into next year. Hong Kong and Shanghai advanced while Tokyo, Seoul and Sydney declined. U.S. futures edged higher and oil prices rose. Japan’s central bank kept its benchmark interest rate at minus 0.1%, as expected, but pledged flexibility in its policies. “Japan's economy is likely to continue recovering moderately for the time being, supported by factors suc
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Most actively traded companies on the Toronto Stock ExchangeTORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (19,791.62, down 423.07 points): TC Energy Corp. (TSX:TRP). Energy/ Down $1.38, or 2.75 per cent, to $48.75 on 17.7 million shares. Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down $1.47, or 1.74 per cent, to $83.13 on 15.5 million shares. Canopy Growth Corp. (TSX:WEED). Down 14 cents, or 11.86 per cent, to $1.04 on 12.8 million shares. Power Corporation of Canada. (TSX:POW).
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