Cameco Corporation (CCJ) - NYSE
  • Wed, Jun. 8, 5:58 PM
    • A uranium glut that has caused futures prices to drop 18% YTD - the worst performer among all the world's commodities - is set to turn into a shortage as miners cut output and nuclear reactor construction climbs, Uranium Energy (NYSEMKT:UEC) CEO Amir Adnani tells Bloomberg.
    • Oversupply from mines in Kazakhstan, Canada and Australia has sent prices plunging even as iron ore and oil rally, but as supply diminishes and demand improves, stockpiles will be eroded and the slump will reverse, the CEO says.
    • Prices are not factoring in the pace at which inventories will disappear in coming years, according to Morningstar's David Wang, who expects uranium to more than double to about $65/lb. by 2019 from $28.25 now.
    • Relevant tickers include: CCJ, URG, URZ, UUUU, URRE, URA.
    | Wed, Jun. 8, 5:58 PM | 46 Comments
  • Wed, Jun. 1, 2:39 PM
    • Cameco (CCJ -2.1%) says the Canadian Nuclear Safety Commission approved an application to increase annual licensed production capacity at the McClean Lake milling operation to 24M lbs. of uranium concentrate.
    • CCJ, which operates the mine and owns 50%, says the regulator’s decision means it can meet its 2016 production target, with full annual production of 18M lbs. in 2017.
    • Uranium ore from the Cigar Lake mine is milled and packaged at the McClean Lake operation.
    • Now read Cameco: Don't lose hope (May 24) and Cameco: Challenges remain in the near term (May 16)
    | Wed, Jun. 1, 2:39 PM | 15 Comments
  • Fri, Apr. 29, 2:10 PM
    • Cameco (NYSE:CCJ) declares $0.10/share quarterly dividend, in line with previous.
    • Forward yield 3.18%
    • Payable July 15; for shareholders of record June 30; ex-div June 28.
    | Fri, Apr. 29, 2:10 PM
  • Fri, Apr. 29, 7:54 AM
    • Cameco (NYSE:CCJ): Q1 EPS of -$0.02 misses by $0.17.
    • Revenue of $408M (-27.9% Y/Y) misses by $219.9M.
    • Press Release
    | Fri, Apr. 29, 7:54 AM | 22 Comments
  • Fri, Apr. 22, 7:53 AM
    • Cameco (NYSE:CCJ) says it is suspending production at its Rabbit Lake operation in Saskatchewan, while also reducing production across its U.S. operations.
    • CCJ says the changes will result in ~500 job losses at Rabbit Lake and ~85 at the U.S. operations.
    • CCJ is ramping up production at its low-cost Cigar Lake mine, which means it can meet customer needs without the higher-cost output from Rabbit Lake.
    • Uranium has been in a major bear market since the 2011 Fukushima nuclear disaster; last week, the spot price dropped to an 11-year low below US$26/lb. after climbing above $130 at the peak of the market in 2007.
    • Now read Is Cameco finally turning around?
    | Fri, Apr. 22, 7:53 AM | 13 Comments
  • Mon, Mar. 7, 1:10 PM
    • Cameco (CCJ +2.3%) is slowly expanding its McArthur River uranium mine in Saskatchewan - the world's biggest - anticipating that currently well-supplied utilities will need uranium in the coming years, CEO Tim Gitzel tells Reuters.
    • CCJ has not signed off on the full expansion but is spending C$30M (~$22.5M) this year to gradually prepare, the CEO says, without specifying how much the full expansion would cost.
    • McArthur River is expected to produce 20M lbs. of uranium this year, with a target of 22M lbs. by 2018.
    • Spot prices of uranium have been depressed since the 2011 Fukushima disaster in Japan.
    | Mon, Mar. 7, 1:10 PM | 13 Comments
  • Fri, Feb. 5, 6:19 PM
    • Cameco (NYSE:CCJ): Q4 EPS of C$0.38 misses by C$0.10.
    • Revenue of C$975M (+9.7% Y/Y) beats by C$144.42M.
    • Press Release
    | Fri, Feb. 5, 6:19 PM | 10 Comments
  • Thu, Feb. 4, 5:30 PM
    • Cameco (NYSE:CCJ) declares C$0.10/share quarterly dividend, in line with previous.
    • Forward yield 2.34%
    • Payable April 15; for shareholders of record March 31; ex-div March 29.
    | 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
    | Thu, Jan. 28, 4:43 PM | 52 Comments
  • 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%.
    | Wed, Jan. 6, 5:58 PM | 10 Comments
  • Dec. 3, 2015, 4:36 PM
    • Cameco (NYSE:CCJ) declares C$0.10/share quarterly dividend, in line with previous.
    • Forward yield 2.52%
    • Payable Jan. 15; for shareholders of record Dec. 31; ex-div Dec. 29.
    | Dec. 3, 2015, 4:36 PM | 5 Comments
  • 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.
    | Nov. 1, 2015, 4:51 PM | 4 Comments
  • 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.
    | Oct. 28, 2015, 3:15 PM
  • 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. 14, 2015, 12:31 PM | 5 Comments
  • 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. 10, 2015, 11:58 AM | 15 Comments
Company Description
Cameco Corp. operates underground uranium mines and produces uranium. It also provides processing services required to produce fuel for nuclear power plants, and generates clean electricity. The company operates its business through three segments: Uranium, Fuel Services and NUKEM. The Uranium... More
Industry: Industrial Metals & Minerals
Country: Canada