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CCJ

Cameco Corporation

https://www.cameco.com

Industry

Uranium

Cameco Corporation produces and sells uranium. It operates through two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services. This segment also produces fuel bundles or reactor components for CANDU reactors. The company sells its uranium and fuel services to nuclear utilities in the Americas, Europe, and Asia. Cameco Corporation was incorporated in 1987 and is headquartered in Saskatoon, Canada.

Open

53.75

Mkt cap

23B

Volume

3.8M

High

54.07

P/E Ratio

276.53

52-wk high

58.72

Low

51.84

Div yield

0.00

52-wk low

35.43

Ur-Energy Inc. (NYSE:URG) announced plans to develop its Shirley Basin mine in Wyoming, aiming to nearly double its mine production capacity to 2.2 million pounds of uranium. The decision is driven by a growing uranium sales contract book, strong market prices, and anticipated demand for clean nuclear power. The project, with initial capital costs of $24.4 million and operating expenses of $24.40 per pound, is expected to offer substantial margins given the current uranium price of around $90 a pound. The development comes amid a surge in uranium prices, driven by expectations of a global nuclear power renaissance and potential market disruptions. Other companies like Cameco Corp (NYSE:CCJ), Energy Fuels Inc (NYSE:UUUU), Denison Mines Corp. (NYSE:DNN), Uranium Energy Corp. (NYSE:UEC), and IsoEnergy Ltd (OTC:ISENF) are also expanding their uranium production capacities.

Portfolio Pulse from Matt Whittaker

March 13, 2024 | 10:56 pm

The uranium mining industry is witnessing a resurgence due to rising nuclear fuel prices, driven by increased interest in nuclear energy as a solution to climate change. This has led to the revival of old mines and a flurry of mergers and acquisitions in the sector. Companies like Cameco and Denison Mines are ramping up production in Canada, while NexGen Energy, 92 Energy, IsoEnergy, and Fission Uranium Corporation are engaging in significant financial activities to expand their operations. The U.S. is also seeing a revival in uranium production amid geopolitical tensions affecting uranium imports from Kazakhstan.

Portfolio Pulse from Stjepan Kalinic

March 04, 2024 | 3:39 pm

Cameco's CEO highlighted the contrast between durable demand and fragile supply in the uranium market at the BMO Conference, reinforcing the company's decade-old message of strong long-term fundamentals due to increasing demand and tight supply.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 7:43 pm

The CEO of Cameco, at the BMO Conference, stated that the tight market conditions on the supply side for their industry are expected to persist for a long time. This suggests a prolonged period of supply constraints.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 7:42 pm

The International Atomic Energy Agency (IAEA) has released two quarterly reports to member states, revealing that Iran's stock of enriched uranium has increased to 5,525.5 kg. However, the stock of uranium enriched to up to 60% purity in Uranium Hexafluoride (UG6) form has decreased to 121.5 kg. The IAEA notes that approximately 42 kg of uranium enriched to 60% could theoretically be enough to produce a nuclear bomb.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 4:20 pm

Goldman Sachs (NYSE:GS) and Macquarie (OTCPK: MCQEF), along with hedge funds, are entering the uranium derivatives market as uranium prices have doubled to $102 per pound due to a supply shortfall and increased demand for nuclear energy. Goldman Sachs is writing options on physical uranium, marking its first derivative for the metal. The bank has been involved in the uranium market since 2009 and holds significant uranium inventories. The interest in physical uranium is growing, with financial institutions holding a significant portion of the global annual consumption.

Portfolio Pulse from Stjepan Kalinic

February 20, 2024 | 3:43 pm

This week's investment insights cover Janet Yellen's inflation comments, Bitcoin's recovery post-ETF approval dip, DKI's report on Shockwave Medical (SWAV) with a positive outlook, Cameco's (CCJ) shortfall in uranium production and its impact on prices, and the decline in used car prices potentially affecting the CPI. Yellen's remarks are criticized for being out of touch, Bitcoin's resilience is highlighted, SWAV's potential for acquisition is discussed, CCJ's production miss is seen as a temporary setback for uranium prices, and the drop in used car prices is seen as a minor contributor to CPI reduction.

Portfolio Pulse from Gary Brode

February 14, 2024 | 3:05 pm

Cameco (NYSE:CCJ) reported significant growth in 2023 with revenue, gross profit, and net earnings all showing substantial increases from the previous year. The company highlighted the global support for nuclear power and its role in achieving net-zero emissions by 2050. Cameco's performance was boosted by increased sales volumes and prices in uranium and fuel services. However, uncertainties include production issues by Kazatomprom (OTCPK: NATKY) and potential U.S. bans on Russian uranium. Cameco has also entered a strategic acquisition of Westinghouse in partnership with Brookfield (NYSE:BN), expecting significant EBITDA growth.

Portfolio Pulse from Stjepan Kalinic

February 09, 2024 | 5:29 pm

RBC Capital analyst Andrew Wong has reiterated an Outperform rating on Cameco (TSX:CCO), also known as CCJ in the US, with a maintained price target of C$70.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 3:14 pm

Cameco's shares traded lower following the announcement of mixed financial results for the fourth quarter.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:40 pm

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