Falling uranium price hits Cameco shares

Cameco downgraded on weak uranium price

March 03, 2010,
by Eric Lam

Even Cameco Corp., the biggest player in the uranium industry, cannot escape recent weaknesses in the mineral’s spot price.

Fraser Phillips, analyst with RBC Capital Markets, has downgraded Cameco to Sector Perform with above average risk from Outperform while lowering his price target to $32 from $35, citing declining uranium prices.

Since the beginning of the year, uranium spot prices have dropped $4 a pound, approacing the $40/lb low-water mark of the past four years.

Read more:
http://antinuclear.net/2010/03/04/falling-uranium-price-hits-cameco-shares/