Cameco was founded in 1991 when two government-owned companies, Eldorado Nuclear Limited and Saskatchewan Mining Development Corporation, merged. The newly formed entity was subsequently privatised. An initial IPO sold 20% of Cameco shares. By 2022, 100% of Cameco stock had been sold, making it a fully privatised entity.
Today, Cameco is one of the biggest uranium companies in the world. From its base in Saskatoon, Saskatchewan, Canada, Cameco oversees mines in North America and Kazakhstan. These mines produce more than 18% of the world’s uranium. Between its mines, production capabilities and investments in other energy companies, Cameco has a diverse portfolio of assets.
Cameco stock has been available to traders and investors since 1991. This means the Cameco share price is significant within the nuclear energy sector. Moreover, the price of Cameco shares is relevant for anyone active in the energy industry as a whole.
Cameco stock is listed on the Toronto Stock Exchange (TSK: CCO) and the New York Stock Exchange (NYSE: CCJ). The company’s initial IPO saw 10.4 million shares sold on the Toronto Stock Exchange. The Cameco share price opened at CAD$12.50. A second listing on the New York Stock Exchange followed in 1996, with Cameco stock going on sale at $8.94. Cameco stock peaked on June 15, 2007, at $44.87 and, in 2022, the average Cameco share price was $24.45. Other notable moments in the history of Cameco shares include its 1996 acquisition of Power Resources Inc., the largest uranium producer in the US.
Also of note when you’re reviewing the Cameco share price history are the company’s takeovers of Uranerz Exploration and Mining Limited (1998) and Bruce Power Partnership (2001). These deals helped Cameco’s revenue surpass CAD$1 billion for the first time in 2004.
Why trade Cameco stock when there are other options? Cameco shares have long been a point of interest due to the company’s position within the uranium sector and the energy market as a whole. However, there are alternatives in the nuclear energy industry, including Orano and Holtec International, which is a company that provides energy equipment and systems.
Outside of the nuclear energy sector, you can trade shares in companies that produce oil, gas and electricity, such as Shell and ExxonMobil. Other alternatives to Cameco shares include renewable companies. SolarEdge Tech, First Solar Inc. and Scatec are all available to trade at Skilling. If you want to trade shares in a leading nuclear energy company, you can join Skilling and take a position on Cameco stock.
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