2024-07-01 02:26:18 ET
Summary
- Cameco may see multiple years of over 30% earnings growth driven by the Nuclear energy re-birth.
- Supply contract terms support higher realized uranium prices and margin expansion.
- The Westinghouse acquisition integrates Cameco into the nuclear power plant design, construction, and service sector.
- Valuation is not cheap but within the historical context at 33x PE (cash) and 1x PEG on 2025 estimates.
Introduction
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Cameco: Spanning The Uranium, Nuclear Value Chain With Favorable Growth Expectations