Cameco Stock Price, News & Analysis

Cameco (NYSE: CCJ) has published its 2023 Sustainability Report, detailing the company's initiatives and achievements in reducing its carbon footprint, enhancing environmental protection, and promoting community engagement. Key highlights include the introduction of Scope 3 emissions data, the installation of a closed-loop cooling system at Port Hope Conversion Facility, and the development of decarbonization pathways. The report emphasizes Cameco's commitment to the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-Related Financial Disclosures (TCFD) guidelines. Additionally, Cameco underscores its support for Indigenous communities, with 50% of its workforce in northern Saskatchewan being Indigenous and 74% of service spending allocated to northern-owned businesses. The report also touches on Cameco's strategic acquisition of Westinghouse, aiming to strengthen its role in the global nuclear industry.

SaskPower, Westinghouse, and Cameco have signed an MOU to explore Westinghouse's nuclear reactor technology and the required nuclear fuel supply chain for Saskatchewan's clean power needs.

The MOU will evaluate technical and commercial pathways for deploying Westinghouse’s AP1000® reactor and AP300™ small modular reactor (SMR) for Saskatchewan's long-term electricity supply planning.

This includes a Saskatchewan-based nuclear supply chain, collaboration on nuclear research, workforce training, and a potential final investment decision by 2029 for building Saskatchewan’s first SMR facility.

Westinghouse’s reactors are operational and setting performance records globally, with the AP300 SMR targeted for design certification by 2027 and construction starting in 2030. Cameco and Westinghouse aim to help Saskatchewan achieve carbon-free electricity for the future.

Cameco (TSX: CCO; NYSE: CCJ) has successfully completed a $500 million debenture offering. The offering consists of 4.94% Senior Unsecured Debentures, Series I, maturing on May 24, 2031. Interest payments are set at 4.94% per annum, payable semi-annually on May 24 and November 24, starting November 24, 2024. The debentures are not registered under the U.S. Securities Act and cannot be sold in the U.S. without registration or an applicable exemption. Cameco is a leading global provider of uranium fuel for clean-air energy, with significant investments in the nuclear fuel cycle and ownership interests in Westinghouse Electric Company and Global Laser Enrichment.

Cameco (TSX: CCO; NYSE: CCJ) has announced a $500 million private placement offering of senior unsecured debentures, with a 4.94% interest rate maturing on May 24, 2031. The proceeds will be used to retire its 4.19% Senior Unsecured Debentures due June 24, 2024. The new debentures will be direct, unsecured obligations, ranking equally with all other unsecured indebtedness. Closing is expected on May 24, 2024. The offering will be led by TD Securities, RBC Capital Markets, and Scotiabank, and will not be available to U.S. investors. Cameco emphasizes the company’s strong position in the nuclear fuel market, focusing on sustainable growth and risk management.

Cameco (TSX: CCO; NYSE: CCJ) announced the election of eight board members at its annual meeting. Shareholders elected new members and bid farewell to retiring directors. The voting results for the board members were positive, with high percentages of votes in favor of each member. Cameco is a leading provider of uranium fuel with a strong global presence in the nuclear industry.

Cameco reported strong operational performance in Q1 2024, with solid financial results in line with their 2024 outlook. The company remains focused on debt reduction, maintaining a strong cash position. Their production rates and total production costs are on track with plans for 2024, reflecting a transition to a tier-one cost structure. Cameco continues to secure long-term contracts and is strategically positioned to benefit from the growing support for nuclear energy.