Cameco (CCJ) NewsBite - Cameco Lifted by Upgrade

Posted on Thursday, February 14, 2008 10:56 AM

Cameco Corp. (CCJ) opened at 35.94. So far today, the stock has hit a low of 35.94 and a high of 36.82. CCJ is now trading at 37.02, up 1.73 (4.81%). The stock hit its 52 week high of 56.00 in June and set its 52 week low of 30.78 in January. CCJ has been losing ground for most of the past year. Cameco shares have been soaring today after a RBC Capital Markets lifted his rating on the stock to "Outperform" from "Sector Perform." Technical indicators for the stock are bearish and steady. If you’re looking for a hedged play on this stock, consider a March bull-put credit spread below the $30 range. CCJ stock could fall up to 19% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]