- Cameco (CCJ -7.1%) plunges after reporting an unexpected Q2 loss due to weak uranium demand and prices.
- CCJ says Q2 uranium sales volumes fell 37% Y/Y to 4.6M lbs. while its average realized price per pound fell ~8%, and forecasts FY 2016 uranium production of 25.8M lbs. and delivery volume of 30M-32M lbs.
- CCJ issues downside FY2016 guidance, seeing a 5%-10% Y/Y drop in revenues, equating to C$1.78B-C$1.88B vs. C$2.62B analyst consensus estimate.