Cameco rises on uranium optimism

Saskatoon-based Cameco (TSX:CCO; NYSE:CCJ), like many uranium miners, is enjoying predictions of higher prices and growing demand in the uranium space.

Despite uranium oxide spot prices closing 2013 down 21% at US$32.50 per lb, Raymond James analyst David Sadowski forecasts spot prices to average US$42 per lb in 2014 and US$65 per lb in 2015, up a respective 20% and 62% over current levels.

As a result, Sadowski urges investors to increase their positions in high quality uranium firms. Cameco is one of his three top uranium picks this year, with a $25 target price and an “outperform” rating.

Continue reading this story at NorthernMiner.com/news/cameco.