Investors are increasingly looking for robust mining stocks to buy as we approach the second half of 2024. The recovery of the global economy has fueled demand for various metals, from precious metals like gold and silver to base metals like copper and nickel. This surge in demand and supply constraints has pushed prices higher, benefiting mining companies across the board. Meanwhile, the ongoing transition to clean energy has become a key tailwind in mining. Analysts point out how it has driven long-term d ...

文章核心观点 - 随着全球推行绿色发展，铀供应存在显著的供需问题，美国国会禁止进口俄罗斯铀，以及多国在COP28签署到2050年将核能产量提高两倍的宣言，推动铀价上涨，相关股票也有望走高 [1][2] 行业情况 - 美国国会通过禁止进口俄罗斯铀的禁令，释放约27亿美元用于扩大美国核燃料生产，禁令将改变核电市场，使核燃料价格回升至每磅100美元以上 [2] - 到2030年，铀需求预计将增长127%，到2040年可能增长200%，造成约2.4亿磅的供应缺口，到2050年年度需求增长预计将增至三倍，缺口可能继续扩大 [3] - 铀价因供应链挑战、矿山枯竭、二次供应下降和市场价格低迷导致的投资不足等全球因素而飙升，且这些因素将持续多年 [4] 公司情况 Cameco（CCJ） - 铀价上涨使股价从约40美元涨至49.83美元，考虑供需问题和俄罗斯进口禁令，有望测试60美元 [6] - 每股收益为13美分，未达26美分的预期，收入从6.87亿美元降至6.34亿美元，但符合公司预期，分析师更关注铀的长期积极前景 [6] - RBC Capital认为业绩基本稳健，长期积极的铀前景不变，建议逢低买入；美国银行将其列入美国1名单；高盛将其目标价上调至56美元，给予买入评级 [7] NexGen Energy（NXE） - 近期股价回调是机会，公司正将Rook I项目打造成全球最大的低成本铀矿，股价从8.88美元回调后在7美元获得支撑，有望先测试8.88美元，再升至10美元 [10] - 公司对铀市场未来充满信心，Rook I项目处于许可的最后阶段，即将开工建设，且有9.3亿美元现金和流动资产支持 [11] - 公司CEO强调核能的认可度不断提高，Rook I项目将成为关键供应商 [12] Denison Mines（DNN） - 自2023年6月触底以来呈上升趋势，在50日和200日移动平均线获得支撑，股价回调至2.02美元后再次上涨，有望短期内测试3美元 [14] - 公司总裁兼CEO表示，铀储备、资源和实物资产价值大幅提升，因近年未签订低价供应合同且持有实物铀，在供应稀缺时有大量未承诺的铀产量和实物资产可供市场 [14] Uranium Royalty Corp.（UROY） - 是全球唯一专注于铀的特许权使用费和流公司，也是唯一纯铀上市公司，通过战略收购铀权益和实物铀交易获取铀商品价格敞口，无需承担直接运营风险和成本 [16][17] - 股价从3.80美元跌至2.20美元后开始反弹，考虑铀供需问题和俄罗斯进口禁令及潜在报复，有望短期内重新测试3.80美元的高点 [17] - H.C. Wainwright分析师重申买入评级，目标价7.70美元，称其战略收购新特许权、实物铀等权益，在行业中具有灵活性和优势 [18] 相关ETF - **Global X Uranium ETF（URA）**：费用率0.69%，持有48只涉及铀矿开采和核组件生产的公司股票，自3月约27美元触底后回升至31.52美元，若突破32美元阻力位，有望测试40美元；俄罗斯报复可能使铀价和ETF价格进一步上涨，花旗分析师的牛市情景中，2024年和2025年铀价平均分别为121美元/磅和151美元/磅 [21][22][23] - **Sprott Funds Uranium Mining ETF（URNM）**：费用率0.75%，至少80%资产投资于North Shore Global Uranium Mining Index的证券，自约45美元触底后反弹至55.17美元，若突破57.50美元阻力位，有望测试70美元 [25][26] - **VanEck Uranium and Nuclear Energy ETF（NLR）**：费用率0.61%，旨在复制MVISGlobal Uranium & Nuclear Energy Index的表现，自2月下旬约70美元触底后涨至85.22美元，随着铀市场升温，有望接近90美元 [28][29]

Petmal Investment Thesis Cameco Corporation (NYSE:CCJ) is still undervalued, even now. As you'll soon see, this pitch isn't blemish-free. After all, CCJ hedges out a significant amount of its production, meaning that even as uranium prices continue to tick higher, CCJ will not benefit as much as some of its unhedged peers. Nevertheless, CCJ is well poised to continue moving higher into 2025. According to my estimates, CCJ is priced at 37x forward EBITDA, which is a very fair multiple for a company that is t ...

Good news: Cameco is benefiting from a boom in nuclear fuel demand. Bad news: Its price has already gone up a lot. Shares of Canadian nuclear fuel producer Cameco (CCJ 6.48%) were up 6.1% through 11:45 a.m. ET on Friday, helped by a decision by the U.S. government. As Bloomberg reported yesterday, the government wants to buy $3.4 billion worth of nuclear reactor fuel and is soliciting bids from uranium miners. Cameco, the biggest publicly-traded pure play on uranium production, is a logical beneficiary. Why ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Let's take a look at what these Wall Street heavyweights have to say about Cameco (CCJ) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Cameco currently has an average brokerage recommendation (ABR) o ...

Some cheap energy stocks for investors to consider buying in May this year. Framing this article is that the G7 countries have agreed to phase out unabated coal power plants by 2035, with some flexibility for nations heavily reliant on coal. This marks a significant milestone in the global effort to reduce greenhouse gas emissions and limit global warming. Source: The thinkorswim® platform from TD Ameritrade Cameco (NYSE:CCJ) is the world's largest publicly traded uranium miner. It provides a significant po ...

With news that the Russians opened another front in its belligerence against Ukraine, it's clear that energy stocks to buy need to rise to the forefront. Geopolitically, the narrative is only becoming more intense, with fears rising that global supply chains could be disrupted. It's not a far-fetched concept. Before Congress approved an import ban on Russian-sourced uranium, concerns existed that the Kremlin could choose to cut supplies of the critical energy resource to the U.S. and Western nations. With t ...

FN Media Group News Commentary PALM BEACH, Fla., May 7, 2024 /PRNewswire/ -- An article from REUTERS on the Uranium markets earlier this year painted a prosperous picture for the global Uranium.  The report said: "Investment banks Goldman Sachs and Macquarie as well as some hedge funds are positioning themselves to reap the benefits of a newly buoyant uranium sector as prices of the nuclear fuel ingredient spike. While many other investment banks are still avoiding uranium, Goldman and Macquarie are boosti ...

Uranium specialist Cameco (NYSE:CCJ) has struggled in recent sessions as investors digested its latest financial results. While the print was somewhat downcast, the market appears to be ignoring the broader positive backdrop. Therefore, CCJ stock could be a higher-risk, higher-reward contrarian bullish opportunity.On Tuesday, the uranium producer reported a net loss of $7 million in the first quarter. The comparison to the year-ago quarter’s $119 million profit was rough. Further, sales declined to $634 mil ...

财务数据和关键指标变化 - 公司第一季度的业绩符合预期,突出了将运营、营销和财务策略保持一致的好处,在核电行业持续看好的大背景下 [27] - 公司2024年的运营和财务指引没有任何变化 [28] 各条业务线数据和关键指标变化 - 铀业务的生产成本继续反映公司向一级成本结构过渡的进程 [27] 各个市场数据和关键指标变化 - 公司继续选择性地承诺未受限的一级地下铀矿库存和UF6转换产能 [30] - 公司每一份合同都反映了当时市场的情绪和动态,使公司能够获得价格高峰并将其带入未来,同时保持重大下行保护 [31] 公司战略和发展方向及行业竞争 - 公司认为,如果要实现净零目标,需要大量的无碳基荷电力和可调度电力,而核电是唯一能满足这些要求的能源 [18][19] - 公司认为,为了确保能源安全,各国必须确保其关键能源基础设施和燃料供应不过度依赖于风险较高的管辖区、不可靠的合作伙伴和不稳定的行为体,而核电可以满足这一要求 [20][21] - 公司认为,随着人工智能、数据中心等新技术的快速发展,对清洁和可靠电力的需求将大幅增加,而核电是最佳选择 [21][22][23] - 公司认为,公司的策略、人员和资产使其能够从行业的有利风向中获益,包括铀供应、电厂服务以及新建和先进反应堆 [26] 管理层对经营环境和未来前景的评论 - 公司认为,核电正被政府、电力供应商和工业电力消费者认为是实现净零和能源安全的关键碳中和能源 [15] - 公司认为,在供给不确定的情况下,其策略和经验为其提供了无与伦比的杠杆,能够创造重大长期价值,同时确保强大的下行保护 [16] - 公司认为,过去12个月里,对核电和公司的兴趣和积极前景有所改善,并且有显著改善 [17] 问答环节重要的提问和回答 问题1 **Neil Mehta 提问** 询问Westinghouse业务在第一季度的EBITDA表现较弱的原因 [36][37] **Heidi Shockey 回答** - 主要是由于购买价格分摊的会计处理影响,包括对资产和存货的公允价值调整,以及一些收购相关的过渡成本 [39][40][41] - Westinghouse业务也存在一定的季节性,第四季度的业绩通常较好,与电厂检修季节有关 [41] 问题2 **Grant Isaac 回答** - 长期合同价格仍在积极上涨,反映了市场对供应安全的持续关注 [46][47][48] - 公司能够从这种市场氛围中获益,凭借其一级资产和棕地优势 [49] 问题3 **Gordon Johnson 提问** 询问拜登政府禁止俄罗斯铀进口的影响 [65][66] **Grant Isaac 回答** - 该禁令可能会在2028年之前生效,对市场的实际影响有限,但存在俄罗斯可能采取报复性措施的风险 [67][68] - 该禁令将促使公用事业公司寻求更多来自安全管辖区的供应,这对公司有利 [69][70][71]