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COPYRIGHT 2004 Investor's Business Daily, Inc.
Byline: DAVID SAITO-CHUNG
The media and movie studios love to give the nuclear power industry a bad rap.
Who could forget Meryl Streep getting scrubbed down at a plutonium processing plant in the film "Silkwood"? Or the front-page articles on the Three Mile Island crisis? How about the ghastly images of radiation victims from Chernobyl?
View nuclear energy through the lens of the market, however, and you'll see a different picture.
One of its main actors these days is a uranium miner called Cameco, based in Saskatoon in Canada's Saskatchewan province.
Don't let its remote location fool you. The stock burst to 52-week highs in late May to early June of 2003 and has surged as much as 230%. Cameco has spent 17 straight weeks on The IBD 100.
What's fueling the rise? The answer is like a refresher course from Economics 101: Global demand for nuclear fuel is far outweighing supply. As a result, uranium oxide...
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