10:15 AM EDT, 03/15/2024 (MT Newswires) -- RBC Capital Markets said Thursday that Cameco Corp. ( CCJ ) remains "well-positioned" to benefit from elevated uranium prices, while noting constructive nuclear demand fundamentals and a looming supply deficit.

RBC said Cameco ( CCJ ) remains focused on building value through a long duration contract book of high-quality demand that provides upside to market prices and downside support, resulting in sustainable cash generation.

According to RBC, Cameco ( CCJ ) has the option to bring production online into a rising market as the contract book builds, while also benefiting from positive momentum across the nuclear supply chain through its fuel services segment and its investment in Westinghouse.

RBC gave Cameco ( CCJ ) an outperform rating with a $70.00 price target.

Price: 54.24, Change: +0.18, Percent Change: +0.33