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Recap: Cameco Q2 Earnings

Benzinga Insights
·1 min read

Shares of Cameco (NYSE:CCJ) were flat in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share fell 200.00% year over year to ($0.12), which missed the estimate of ($0.01).

Revenue of $378,683,000 declined by 2.40% from the same period last year, which beat the estimate of $252,940,000.

Looking Ahead

Cameco hasn't issued any earnings guidance for the time being.

Cameco hasn't issued any revenue guidance for the time being.

Details Of The Call

Date: Jul 29, 2020

View more earnings on CCJ

Time: 08:00 AM

ET Webcast URL: https://www.cameco.com/invest/events-presentations/2020-q2-conference-call

Price Action

Company's 52-week high was at $12.33

52-week low: $5.30

Price action over last quarter: Up 10.11%

Company Overview

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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