This could bode well for uranium producer Cameco. A U.S. based management firm believes uranium demand will grow by 40 percent over the next decade. Morningstar Equity Research adds supplies will struggle to keep pace and that will force the price of uranium up to $75 a pound. Right now the spot price is just under $39 dollars a pound according to uranium tracker UXC. Morningstar expects Cameco’s uranium production to jump by 60 percent over the next five years. It adds two major reasons for the expected rise in uranium are stockpiles are shrinking and China’s appetite for nuclear energy is growing.
