Sheryar Siddiq
1 min read
In This Article:
Goldman Sachs reaffirmed its Buy rating on Cameco Corporation (NYSE:CCJ) on May 24 following the company's notable 130% year-to-date gain. The stock's surge coincides with reports that President Trump is anticipated to issue an executive order to support the nuclear energy sector.
According to Reuters, the executive order will seek to leverage the Defense Production Act to reduce America's dependency on uranium supplies from China and Russia. Additionally, the directive promotes greater use of the Department of Energy's Loan Programs Office to provide loans and guarantees for nuclear energy projects. Goldman Sachs analysts believe Cameco Corporation (NYSE:CCJ) will benefit from this move, stating that the order will strengthen the company's position amidst growing support for domestic uranium production.
Moreover, given Westinghouse Electric's involvement in the construction and operation of new reactors, Cameco's 49% ownership in the firm is also seen as a possible edge. This segment of Cameco is also thought to benefit from constructing new nuclear plants, especially if Westinghouse's AP1000 technology is chosen.
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Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds
Disclosure: None.
