Keep on shorting 17. Don't you know Cameco said the shutdown wont effect 2014 delivery. If anything Uranium prices will head higher in the short term. I hope you realize that they called for a strike 2 weeks ago with a 92% vote in favor. No surprise here. You do realize they will settle the strike and it has no effect on earnings this year. For the first time in a long time I became a buyer because negative sentiment is misplaced. Uranium is over 10% higher than it was last month. Cameco's stock is down significantly from last month. The remaining bad news is the "tax man" as you say. They sold at market prices and have legal backing. If they win all the money will be returned to them and the negative overhand will reverse. GLTY, you shorted the gorilla at the worse time.
See this crashin g crashing under $14 dollar may even hit a low of $13 hugee hugee blow ,a strike could hurt thier thier earnings big time in coming quarters and year
AND COMING QUARTERS HUGE HUGE BLOW TO CCJJ
COULD BE WORST WITH INTEREST AND COMPOUNDING INTERST AND FINES AND LATES FINES Added to the amount , and with a possible strike coming up,not good news for cccj
thorn - ignore that poor soul........shorting a sleeping giant at its 52 week low is stupid both you and me know it.......let us leave it at that....
fine with me.........let it not move for 3 years...........I am an "Investor" not a speculator.......please short it to 17........good luck with that......
I agree with 17 too. Uranium was down $0.15 today. The price is moving higher because buyers are anticipated and miners aren't selling cheap like they used to. A temporary or permanent floor might be in place.
I have to agree with 17 on this one the futures near month term was down $.15 today to $31.50 but as I have pointed out many times I don't even know what a futures price means since there as pretty much always is zero volume. More out term futures were not down also but again zero volume. You cannot have true price dsicovery with no sales!
HI 17. The bull case does not depend on Japan, it just would make it stronger and faster. The world without Japan uses more uranium then is mined today. The shortfall is made up of secondary supplies some of which have dried up (like megatons to megawatts for example and some trading houses). Also building of new plants is running at a fast pace. Yes the share price doen not track spot price real well but the trend does and for the foreseeable future is your friend.
The author obviously has no idea what he is talking about. If Spot Uranium moves to $50 as the author suggests, Cameco will quadruple. Cameco sells long dated contracts at prices higher than spot. If Uranium moved to $50, Cameco would open up its mines.
No, I should not have. I want to make real money, not small potatoes one or two point deals while taking enormous risk and reimbursing longs for dividends. You'll learn this lesson the hard way, eventually. I know better than to tell a headstrong young guy much of anything, it's futile.
The real money is going to be made by the longs, eventually, and lost by shorts. The game's not over yet by a long shot.
Sentiment: Strong Buy
Reasons to avoid Cameco
1. A long way back for demand
As the bull argument goes, Japan has been struggling with power costs ever since shutting down its nuclear plants. This is true, but it does not mean that nuclear power will come roaring back. Polls reveal that the Japanese population is still mostly anti-nuclear, and Prime Minister Shinzo Abe is not as popular as he was last year. As a result, he may have difficulty bringing back nuclear power.
Secondly, nuclear power faces some familiar obstacles in North America, such as problems with waste disposal and local opposition wherever a plant may be built. Also, with natural gas so cheap today, there is a viable alternative to nuclear — one that is much easier to implement.
2. An expensive share price
Even if the price of uranium goes up, Cameco’s shares may not follow suit. A look at the company’s stock price reveals why.
Cameco made $1.12 per share in adjusted earnings last year. At $22 per share, Cameco trades at nearly 20 times this number. It gets worse, though. Cameco earned this $1.12 per share when uranium prices were trading at nearly $50 per pound, so it seems that a uranium recovery is already built into the stock price, which means that there’s much less upside to owning the shares.
Sentiment: Strong Sell
So I've been short for months. I shorted well above $20. I was right, Cameco is under $20 today. You should have listened to me.
Sentiment: Strong Sell