Cameco CorpLets dive into another stock of the long term investments and position trading portfolio.
This time one out of the uranium basket as the uranium renaissance is in full swing.
Currently holding 2 positions, which combined has an average price of around $23 (red circles) and looking to add
Cameco is the second largest uranium mining company in the world and owns the largest high grade uranium mine, which is temporary closed atm.
There can be enough said about the uranium sector and the potential fundamentals.
From a value standpoint, this stock might be overvalued. Has a P/E of 100 against an EPS of 0.30. But we are not on Buffetview, but on tradingview.
Stock markets tend to overshoot, specially in the commodities and tech sectors. So once the hype train start running again, their might be some value find in this giant miner.
So far this year CJJ has been outperforming any other N. American uranium mining company, at least all the ones in my basket.
If you look at the chart, you can clearly see CJJ has been on the run, broke out of the compression and took out several highs.
An ideal setup would be a correction back to the upper line of the compression pattern. I would add there to the position and might consider adding leveraged cfd positions.
Price target $38
