The price of uranium should rise to $90 per pound from its current level of $57, Howe said.
Goldman Sachs said Monday it expects a 55 percent increase in the demand of uranium.
"We think Cameco's going to be ahead of the game when the uranium price recovers," Howe said.
There are three new nuclear power plants going up in India and likely nine more power plants to be built by 2009 in Russia, Japan and Canada.
Even in the U.S. -- which hasn't built a new nuclear power station since 1990 -- presidential candidate John McCain plans to double energy output from this sector, which would require 60 new nuclear power plants.
Ninety-five percent of the new nuclear power plants are being built by Japanese companies, according to Howe.
Looking to miners, Canada's Cameco has a market capitalization of more than $13 billion and is the world's largest uranium producer. It also mines gold.
The company's margins have been slightly thin over the last year due to high production costs, according to Howe.
"We think some of the smaller producers are going to be in trouble because of the thin margins at the moment," Howe said.
"Cameco could be in a position to scoop a couple of its smaller competitors up and grow its market dominance."