CCJ - Why Shares of Cameco Are Powering Higher This Week
2023-11-03 17:12:04 ET
While the S&P 500 is off to a bullish start in November, shares of Cameco (NYSE: CCJ) have charged considerably higher. According to data from S&P Global Market Intelligence , shares of the uranium mining company have risen 11.7% as of 2:35 p.m. ET on Friday since the end of last week's trading session.
In addition to the company reporting strong third-quarter 2023 financial results, investors responded to management's more auspicious outlook for the remainder of 2023.
Cameo presented its Q3 2023 financial report on Wednesday, and investors were anything but scared off from what Cameco had to say. Reporting revenue of $575 million in Q3 2023, Cameco grew the top line 48% compared to the same period last year.
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Why Shares of Cameco Are Powering Higher This Week