On October 6, Cameco rose 5.54% in regular trading, at $92.03 per share, with turnover of $129 million. The uranium and nuclear fuel sector strengthened broadly, with Centrus Energy, Denison Mines, and NexGen Energy up 5% to 8%. Jefferies recently initiated coverage on the nuclear sector with a Buy rating and a $138 target price for Cameco, citing the strongest demand cycle in forty years. Additionally, Cameco increased its interest in the Cigar Lake mine to 57.42%, and Key Lake and McArthur River have returned to full production, reinforcing supply confidence.

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