Why Cameco Stock Popped Today
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Cameco (CCJ) shares rose 3.9% amid speculation over multiple factors. Key reasons include Fed Chair Jerome Powell's hint at potential interest rate cuts due to a weakening economy, analysts from Raymond James and National Bank Financial raising price targets to CA$120 and CA$115 respectively, and a recent uptick in uranium prices. However, despite the stock's rise, concerns about its high valuation persist, with a price-to-earnings ratio of 80.
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