Cameco (CCJ) Secures Major Uranium Contract With India

We recently published 10 Best Performing Nuclear Energy Stocks According to Analysts.  Cameco Corporation (NYSE:CCJ) is one of the best-performing nuclear energy stocks.

Uranium supplier Cameco Corporation (NYSE:CCJ) made a major announcement on March 4th when it announced a nine-year uranium supply agreement with India. The deal is worth $2.6 billion, and it will see the firm supply the country with 22 million pounds of the material between 2027 and 2035. Through the agreement, Cameco Corporation (NYSE:CCJ) made inroads into India’s nuclear power market, which currently consists of 24 nuclear reactors and aims to reach 100 gigawatts in power generation capacity by 2047.

Raymond James discussed Cameco Corporation (NYSE:CCJ)’s shares in mid-January. It raised the share price target to C$165 from C$150 and kept an Outperform rating on the shares. The financial firm outlined that the coverage was part of a broader coverage of the mining industry. Bernstein had also discussed Cameco Corporation (NYSE:CCJ) in January, as it adjusted the price target to $101 from $100 and maintained an Outperform rating. The financial firm pointed out that higher uranium prices were responsible for the adjustment.

Cameco Corporation (NYSE:CCJ) is a Canadian company that provides uranium and is also present in the power generation technology segment through its Westinghouse division.

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