Shares of Cameco (NYSE:CCJ) fell 1.6% in pre-market trading after the company reported Q1 results.
Earnings per share were up 183.33% year over year to $0.05, which beat the estimate of ($0.01).
Revenue of $257,783,000 up by 15.52% from the same period last year, which beat the estimate of $252,940,000.
Earnings guidance hasn't been issued by the company for now.
Revenue guidance hasn't been issued by the company for now.
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Date: May 01, 2020
Company's 52-week high was at $11.21
Company's 52-week low was at $5.30
Price action over last quarter: Up 13.64%
Cameco is one of the world's largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.
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