- Cameco (CCJ) shares struggle to rebound from yesterday's 7% shellacking after Q2 earnings fell shy of analyst expectations and the company said it was still "a long way" from restarting its idled McArthur River/Key Lake mine, the world's largest high-grade uranium operation.
- While long-term fundamentals reflect "a growing demand story... currently the uranium price reflects surplus disposal in the spot market and is dragging down the long-term price," President and CEO Tim Gitzel said during the company's earnings conference call.
- In its latest MD&A, CCJ says it expects 2019 to be "a weaker year," as the changing pricing terms under its existing contract portfolio and the proportion of purchased material compared to produced material making up its uranium supply likely will hurt revenue and cost of sales in 2019 relative to 2018.