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Fri, Feb. 5, 6:19 PM
Thu, Feb. 4, 5:30 PM
Thu, Jan. 28, 4:43 PM
- Uranium spot prices likely will remain under pressure for the rest of the decade because of high inventory levels, recycling of already-mined uranium and the slow restart of Japan's nuclear reactors, Fitch Ratings forecasts.
- An extended period of oversupply has contributed to a major build-up in utilities' uranium stockpiles, with European utilities having enough fuel to last three years and Japanese utilities enough for 4-5 years, which will maintain pressure on prices as demand slowly recovers, Fitch says.
- Relevant stocks: CCJ, DNN, LEU, URRE, UEC, URG, UUUU.
- ETFs: URA, NLR
Wed, Jan. 6, 5:58 PM
- Cameco (NYSE:CCJ) says it expects its newest mine at Cigar Lake in Saskatchewan to produce 16M packaged lbs. of uranium concentrate in 2016, subject to regulatory approval.
- Reaching the higher output target depends on regulators approving an increase in the annual production limit at the McClean Lake mill, which processes Cigar Lake ore and is owned by France's Areva.
- Cigar Lake is operated and 50% owned by CCJ, while Areva owns 37%.
Dec. 3, 2015, 4:36 PM
Nov. 1, 2015, 4:51 PM
- Cameco (NYSE:CCJ): Q3 EPS of $0.20 misses by $0.11.
- Revenue of $649M (+10.6% Y/Y) beats by $10.19M.
Oct. 29, 2015, 5:35 PM| Oct. 29, 2015, 5:35 PM
Oct. 28, 2015, 3:15 PM
- Cameco (CCJ +2.3%) says it will not bring its Australian uranium projects into production until prices improve, even as significant work has been completed at both the Kintyre and Yeelirrie projects.
- CCJ also says it is frustrated by roadblocks to uranium mining in Western Australia, particularly from the local Labor Party, which may stop new uranium mines from going ahead if elected.
- CCJ says uranium miners would need access to more Australian ports to export its products in the future, as Adelaide and Darwin are the only ports in the country that will accept uranium.
Aug. 14, 2015, 12:31 PM
- Uranium producer Cameco (NYSE:CCJ) is emerging as a rare bright spot among Canada’s largest mining companies on signs nuclear power is shaking off its post-Fukushima slump, according to a Bloomberg analysis.
- The U.S. and Japan appear to be renewing their commitment to nuclear power, as the U.S. plan to cut carbon emissions from power plants may support new reactors and this week's restart of a Kyushu Electric plant this week highlights a drive to get more atomic stations online in Japan.
- CCJ’s "underlying commodity price isn’t falling off a cliff like it is for all these other producers,” Raymond James analyst David Sadowski says, as uranium futures have climbed 18% in the past year while the benchmark price for steelmaking coal has fallen 23% and gold futures have fallen 14%.
- "If you’re enthusiastic about uranium, Cameco is the go-to stock," says money manager Greg Eckel, adding that “it's liquid, well known and is in the kind of places where you probably want to be” such as Canada, Kazakhstan, the U.S. and Australia.
Aug. 10, 2015, 11:58 AM
- Japan is rejoining the countries using atomic power after the Fukushima nuclear disaster more than four years ago, as Kyushu Electric Power says it will begin bringing online the No. 1 reactor at its Sendai facility on Aug. 11, start power generation as early as Aug. 14 and return it to normal operations next month.
- The move is an important de-risking event for the uranium market, says BMO Capital analyst Edward Sterck: While "Japanese utilities are sitting on significant excess inventories, the fact that these will now start to be consumed [in Japan] should ease fears of sales from inventory,” and it shows there is a regulatory restart process in Japan that actually works, which clears the way for more.
- Relevant stocks: CCJ +4.1%, DNN +5.1%, LEU -1.3%, URRE +5.7%, UEC -1.5%, URG -2.7%, UUUU +8%.
- ETFs: URA, NLR
Aug. 4, 2015, 4:49 PM
- Canpotex, the potash export sales arm for Potash Corp. (NYSE:POT), Mosaic (NYSE:MOS) and Agrium (NYSE:AGU), says it has hired Ken Seitz, chief commercial officer of uranium producer Cameco (NYSE:CCJ), as its new CEO.
- The current president and CEO, Steve Dechka, is retiring at the end of the year after 32 years of service with the company.
Jul. 30, 2015, 8:12 AM
- Cameco (NYSE:CCJ): Q2 EPS of $0.12 misses by $0.09.
- Revenue of $565M (+12.6% Y/Y) misses by $16.04M.
Jul. 29, 2015, 5:30 PM
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Jul. 9, 2015, 4:59 PM
- Cameco (NYSE:CCJ) says it has suspended uranium shipments by truck from its mines in northern Saskatchewan because of raging forest fires raging in the area.
- CCJ says the fires have not affected uranium mining or the company's ability to supply its customers, citing large inventories in its supply chain.
- Reports say the fires could burn until the first snowfall.
Jun. 22, 2015, 12:59 PM
- Canada's government says it has approved an application for Australia’s Paladin Energy (OTCPK:PALAF +4%) to construct its proposed Michelin uranium mine in the provinces of Newfoundland and Labrador, making a rare exception to its policy that requires uranium mines to be majority owned by Canadian companies.
- Analysts say the approval may open the door to other foreign investors seeking majority ownership of Canadian uranium mines, and could encourage investment by two Chinese utilities that have said in recent months they are looking at Canada for acquisitions.
- Canadian companies that own non-producing uranium assets in the country include Cameco (CCJ +0.9%), Fission Uranium (OTCQX:FCUUF +2.1%) and Denison Mines (DNN -1.1%).
May 26, 2015, 12:49 PM
- China's government is said to be on the hunt for uranium acquisitions with large deposits and low costs, and Cantor Fitzgerald analyst Rob Chang says four projects in Canada could meet its criteria.
- Chang's deposits with the potential to attract immediate Chinese interest are Rio Tinto's (NYSE:RIO) Roughrider, Cameco's (NYSE:CCJ) Millennium, Fission Uranium's (OTCQX:FCUUF) Patterson Lake South and UEX's (OTCPK:UEXCF) Shea Creek; Denison Mines' (NYSEMKT:DNN) Wheeler River project could get attention for the long term.
- China National Nuclear Power Corp. is expected to raise as much as $2.16B in what is set to be China’s largest domestic IPO in five years.
Cameco Corp is engaged in the exploration and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries.
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