Cameco ups its market share

Article Excerpt

CAMECO CORP. $21.63 (Toronto symbol CCO; TSINetwork Rating: Extra Risk) (306- 956-6200; www.cameco.com; Shares outstanding: 395.3 million; Market cap: $8.6 billion; Dividend yield 0.7%) is buying Germany-based nuclear fuel broker Nukem Energy for $300 million. Nukem acts as an intermediary between uranium buyers and sellers. It also sells uranium from two different sources: it has 4.5 million pounds recycled from dismantled Russian nuclear weapons, as well as newly mined uranium from mines in Uzbekistan. Adding Nukem raises Cameco’s share of the global uranium market to 25% from 18%. Cameco is still a buy. buy…