|Bid||14.81 x 0|
|Ask||14.82 x 0|
|Day's Range||14.78 - 15.06|
|52 Week Range||7.69 - 15.77|
|Beta (5Y Monthly)||0.66|
|PE Ratio (TTM)||80.11|
|Earnings Date||Jul 30, 2020|
|Forward Dividend & Yield||0.08 (0.53%)|
|Ex-Dividend Date||Nov 26, 2019|
|1y Target Est||14.78|
Stable energy and electricity demand have helped the radioactive metal Uranium climb nearly $10/LBS or more than 35% so far this year, outperforming the world's other major commodities.
Uranium has outperformed major commodities this year, even as the energy sector has suffered from a drop in petroleum demand tied to the coronavirus pandemic.
Cameco (TSX: CCO; NYSE: CCJ) announced today that it is resuming production at its Port Hope Conversion Facility’s UF6 plant and its Blind River Refinery in Ontario. On April 8, 2020, Cameco announced that these facilities would be placed in a temporary safe shutdown state for approximately four weeks and, where possible, maintenance work scheduled for the summer would be advanced. The decision was therefore made to suspend production at the plant, as well as at the Blind River Refinery, since the majority of the UO3 produced there is used in the production of UF6 at Port Hope.
(Bloomberg Opinion) -- Uranium is having a moment in 2020, climbing a third in six weeks while much of the commodities universe melts down. Years of poor economics and weak investment, combined with the impact of pandemic-related mine closures, are adding up to a supply squeeze, despite demand softened by industrial lockdowns. There will be no swift return to lofty levels last seen over a decade ago, but the metal may still be the only one to end the year with a record shortage and higher prices.The start of the last bull run had plenty of similarities to today. Supply was suffering the effect of a long run of unimpressive prices. Thanks to revived interest in nuclear power, the spot market price for uranium surged by a factor of 13 between 2003 and 2007. That hastened a production splurge that put the industry into a steady downward slide, worsened by the Fukushima disaster in 2011. It then bumped along at levels that, adjusted for inflation, were near historic lows.With little incentive to explore or produce more at depressed prices, the supply-demand balance was still delicate even in 2019. Then the coronavirus epidemic struck, triggering even more curtailments at top producers Kazatomprom and Cameco Corp., among others. Canada’s Cameco has suspended production at its giant Cigar Lake mine in Saskatchewan. Kazakhstan’s behemoth, meanwhile, expects a deficit for 2020 and quoted third-party estimates Monday that primary uranium supply could decrease over 10% from a year earlier. Chinese operations in Nambia have been impacted.It’s true that almost all metals have seen a blow to supply from Covid-19, yet for the most part that’s dwarfed by the drop in demand from customers, whose own factories have been shut down. For uranium, despite some reactor closures and longer stretches of maintenance, appetite is a lot less flexible. Production has taken a worse hit. Analysts at BMO estimate that 2020 production expectations are already down by a fifth compared to earlier forecasts. Copper, despite stark headlines, has fallen a fraction of that. Only platinum, dented by restrictions in South Africa, has tumbled by anything like the same magnitude.The shock has been sharply felt. Futures on the New York Mercantile Exchange are trading at around $34 per pound, up from $24 in mid-March. Shares in Cameco have almost doubled from March lows. Others have climbed, too: London-listed Yellow Cake Plc, which purchases and stores physical uranium, is up by roughly half. Exchange-traded funds like North Shore Global Uranium Mining ETF and Horizons Global Uranium Index ETF have recovered from their 2020 nadirs.The real question is what happens next. Even $34 is far below the price required to encourage digging. A significant proportion of producers still don’t make money at those levels, once expenditures to maintain production are included. Meanwhile, utilities are sitting on a still-substantial four years or so of inventory and can afford to wait a little longer before piling in to buy, even if there is already anecdotal evidence of activity. It could take until almost the middle of the decade for them to get back to, say, three years of material.Yet a market now firmly in deficit will keep upward pressure on. Analysts at BMO estimate that the long-term incentive price for miners is close to $55, though existing idled assets could come back at above $40. Even an approval today won’t ease the squeeze fast: A new uranium operation takes years.Then there’s demand. Nuclear power is still growing despite fading enthusiasm in developed markets. It remains a key source of low-carbon energy, and that matters as traditional users find their reactors are aging, and need to be either decommissioned or replaced. Without nuclear energy, energy transition is tougher: The International Energy Agency estimates that over the past 50 years, nuclear power has avoided carbon dioxide emissions almost equivalent to two years of those related to global energy. Meanwhile, the U.S. has a renewed preoccupation with its reactors and reserves.There is always the risk of a return to past supply excesses when it comes to a metal that isn’t rare, in geological terms, and the potential exists for more recycling, too. For now, uranium has some rare radiance.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Clara Ferreira Marques is a Bloomberg Opinion columnist covering commodities and environmental, social and governance issues. Previously, she was an associate editor for Reuters Breakingviews, and editor and correspondent for Reuters in Singapore, India, the U.K., Italy and Russia.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Image source: The Motley Fool. Cameco Corp (NYSE: CCJ)Q1 2020 Earnings CallMay 1, 2020, 8:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorThank you for standing by.
Shares of Cameco (NYSE:CCJ) fell 1.6% in pre-market trading after the company reported Q1 results.Quarterly 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.Guidance Earnings guidance hasn't been issued by the company for now.Revenue guidance hasn't been issued by the company for now.How To Listen To The Conference Call Date: May 01, 2020View more earnings on CCJWebcast URL: https://www.cameco.com/invest/events-presentations?category=99Technicals Company's 52-week high was at $11.21Company's 52-week low was at $5.30Price action over last quarter: Up 13.64%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.See more from Benzinga * Recap: Aon Q1 Earnings * Phillips 66 Partners: Q1 Earnings Insights * Newell Brands: Q1 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Cameco (TSX: CCO; NYSE: CCJ) today reported its consolidated financial and operating results for the first quarter ended March 31, 2020 in accordance with International Financial Reporting Standards (IFRS). “We are living in unprecedented and challenging times,” said Tim Gitzel, Cameco’s president and CEO.
SASKATOON, Saskatchewan, April 30, 2020 -- Cameco (TSX: CCO; NYSE: CCJ) has announced the election of nine board members at its annual meeting held on April 30, 2020..
I last wrote on the uranium market in February 2017, “Supernova Investing: Uranium”. Please start here for full background, before you go down the nuclear/uranium rabbit hole; https://ibankcoin.com/ The Unforgiving Impact Of Covid-19 Envelopment of the globe by COVID-19 has been swift, and unforgiving. Most markets, especially commodity markets (save gold), are beset by demand destruction […]
Cameco (TSX: CCO; NYSE: CCJ) announced today that it is extending the temporary production suspension at the Cigar Lake uranium mine in northern Saskatchewan as the effects of the global COVID-19 pandemic persist. Cameco announced on March 23 that the Cigar Lake operation was being placed in safe care and maintenance mode for four weeks, during which we would assess the status of the situation and determine whether to restart the mine or extend the production suspension. With the impact of COVID-19 continuing to escalate, we have determined that the Cigar Lake workforce will need to remain at its current reduced level for a longer duration.
Cameco (TSX: CCO; NYSE: CCJ) announced today that it is implementing a number of temporary operational changes at its fuel services division facilities in Ontario. The UF6 plant at the Port Hope Conversion Facility (conversion facility) will be placed in a temporary safe shutdown state for approximately four weeks and, where possible, maintenance work scheduled for the summer will be advanced.
Cameco (TSX: CCO; NYSE: CCJ) responded to the announcement issued today by JSC National Atomic Company “Kazatomprom” (Kazatomprom) that it is reducing operational activities across all of its uranium mines for an expected period of three months due to the risks posed by the Coronavirus (COVID-19) pandemic. According to Kazatomprom, this decision will result in a lower level of wellfield development activity and, as a result, an estimated reduction of up to 17.5% in total planned uranium production in Kazakhstan for 2020.
SASKATOON, Saskatchewan, March 27, 2020 -- Cameco (TSX: CCO; NYSE: CCJ) reported today that it filed its annual report on Form 40-F with the US Securities and Exchange.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
Cameco (TSX: CCO; NYSE: CCJ) announced today that it is temporarily suspending production at its Cigar Lake uranium mine in northern Saskatchewan and placing the facility in safe care and maintenance mode due to the threat posed by the Coronavirus (COVID-19) pandemic. There are no confirmed cases of COVID-19 among Cameco’s workforce at the present time. The operation will be ramped down over the coming days and placed into care and maintenance for four weeks.
To the annoyance of some shareholders, Cameco (TSE:CCO) shares are down a considerable 35% in the last month. Indeed...