Cameco stock forecast 2025 the uranium spot market underpinning

The uranium spot market underpinning Cameco stock forecast 2025 is projected to face a supply deficit of over 20 million pounds, fueling price-supportive conditions for miners. The housing market has felt these effects more acutely. Real residential investment per capita dropped by 22.8% in the first quarter of 2024 compared to two years earlier. Looking forward, consumer spending and residential investment are expected to recover as lower interest rates stimulate demand. However, with low consumer confidence, hesitation to make significant purchases, ongoing housing affordability issues, and elevated savings rates, the pace of recovery in the latter half of 2024 is likely to be slow. Deloitte forecasts that more substantial improvements in consumption and residential investment will occur next year as confidence improves. Overall, Canada's economy performed better in the first half of 2024 than expected, but this strength is projected to be counterbalanced by slower real GDP growth in the latter part of the year due to reduced household spending. The updated forecast anticipates real GDP growth of 1.2% for 2024, accelerating to 2.6% in 2025. On a per-capita basis, real GDP is expected to decline by 1.6% this year before rebounding to 1.1% growth in 2025. Cameco’s share of production was 23.4 million pounds in 2024, slightly higher than its expectation of 23.1 million pounds, attributed to record production from the Key Lake mill. Cameco’s 2025 cash flow outlook benefits from pre-sold high-margin uranium deliveries, which could offset any short-term price volatility in the broader commodity market.