Uranium supplier Cameco gains after BMO, BofA raise PT

Cameco

29/08/2025 14:56

** Shares of uranium supplier Cameco CCO.TO rise 4.6% to C$112.58

** BMO Capital Markets raises its price target on CCO to C$120 from C$110

** Brokerage lowered core profit and free cash flow expectations of CCO, but believes it to be offset by increase in supply deficit, having a positive impact on uranium pricing

** BofA raises its PT for CCO to C$130 from C$110

** "Cameco enjoys the enviable position of benefitting from upward pressure on uranium prices when they experience operating challenges" - BofA

** Separately, CCO and uranium miner Orano Canada enter a $500 million deal with Rise Air, under which the airline will provide workforce transportation services for northern Saskatchewan operations for 15 years

** Including session's moves, CCO shares up 53% YTD

($1 = 1.3817 Canadian dollars)

 (Reporting by Pranav Mathur in Bengaluru)

 ((Pranav.Mathur@thomsonreuters.com;))