Petmal Investment Thesis Cameco Corporation (NYSE:CCJ) is still undervalued, even now. As you'll soon see, this pitch isn't blemish-free. After all, CCJ hedges out a significant amount of its production, meaning that even as uranium prices continue to tick higher, CCJ will not benefit as much as some of its unhedged peers. Nevertheless, CCJ is well poised to continue moving higher into 2025. According to my estimates, CCJ is priced at 37x forward EBITDA, which is a very fair multiple for a company that is t ...