Fri, Aug. 14, 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.
Mon, Aug. 10, 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
Tue, Aug. 4, 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.
Thu, Jul. 30, 8:12 AM
Wed, Jul. 29, 5:30 PM
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Thu, Jul. 9, 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.
Mon, Jun. 22, 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%).
Tue, May 26, 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.
Thu, Apr. 30, 5:20 PM
- Cameco (NYSE:CCJ) is upgraded to Outperform from Market Perform with a $28 price target, raised from $22, at Raymond James, which says CCJ's Cigar Lake uranium project appears to have turned the corner.
- Along with the mostly priced-in nature of CCJ's tax dispute and an improving macro uranium environment, the firm believes the market is poised for a market re-rating over the next 6-12 months, as Cigar Lake - once a major risk factor - is ramping up well and makes CCJ's growth guidance more realistic.
- Increased exposure to spot prices through CCJ's recent supply agreement with India "further adds leverage to this potential upswing," the firm says.
Wed, Apr. 29, 3:22 PM
- Cameco (CCJ +0.1%) inches higher despite missing estimates for Q1 earnings and revenues, as it revises its FY 2015 revenue expectations to a 5% Y/Y gain due to a weak Canadian dollar from its earlier outlook for a 5% decline.
- CCJ also raises its capital budget for the year by 9.5% to C$405M, mostly due to higher spending at the McArthur River-Key Lake uranium operation and Areva's McClean Lake mill.
- The McClean mill is being ramped up to handle output from the Cigar Lake mine, which is expected to produce 6M-8M lbs. of uranium in 2015, half of it attributable to CCJ.
- CCJ's total Q1 production volumes fell 10.5% to 5.1M lbs., while the average cost of sales rose 9.5% to C$36.47/lb.
- CCJ also says its recent deal with India provides for the sale of 7.1M lbs. of uranium concentrate through 2020 in a market that has until now been closed to the company.
Wed, Apr. 29, 8:50 AM
Tue, Apr. 28, 5:30 PM
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Wed, Apr. 22, 12:30 PM
- Uranium names are showing notable strength today following yesterday's ruling in Japan that will allow the Sendai nuclear plant to reopen, which would be the first plant to be reopened since the Fukushima disaster: CCJ +6.8%, DNN +5.6%, LEU +10.3%, URRE +4.5%, UEC +5%, URZ +2.6%, URG +1%, UUUU +1.7%.
- The news is positive for the nuclear industry to the extent that authorities in Japan have not given up on the energy source despite Fukushima.
- China is pushing for more nuclear power, with the government reportedly approving eight new nuclear power projects.
- A MarketWatch article paints a bright picture of the nuclear industry, with uranium prices rising ~35% since last summer and improving public opinion; "China and India believe that the upside from the clean energy from nuclear far outweighs the downside risks of sticking to dirty coal,” says GoldStockTrades.com editorJeb Handwerger.
- Last week, CCJ signed a deal with India to provide 7.1M lbs. of uranium concentrate over the next five years.
- ETFs: URA, NLR
Wed, Apr. 15, 11:12 AM
- Cameco (CCJ +5.5%) confirms it has signed a supply agreement to provide 7.1M lbs. of uranium concentrate to Indian nuclear reactors under a long-term contract through 2020.
- CCJ says the contract is its first with India, which is the world's second fastest growing market for nuclear fuel.
- The agreement was announced on the second day of Indian Prime Minister Modi's official visit to Canada.
- Earlier: Canadians oppose potential uranium deal as Indian PM Modi visits (Apr. 14)
Tue, Apr. 14, 2:59 PM
- With Indian Prime Minister Modi arriving in Canada, a new poll shows Canadians are 60% opposed to helping develop India’s nuclear energy industry.
- Modi is set to meet with political and business leaders, with news of a possible agreement for India to buy uranium from Cameco (CCJ -1.6%) expected as soon as tomorrow in what would be the company's first deal with the country.
- Saskatchewan Premier Brad Wall has lauded the possibility of a uranium deal and said it would boost CCJ's revenue and support jobs in the province.
Mon, Apr. 13, 9:41 AM
CCJ vs. ETF Alternatives
Cameco Corp is engaged in the exploration for 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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