Cameco Stock Price, News & Analysis

Cameco (TSX: CCO; NYSE: CCJ) has made several key document filings, including a technical report for the Inkai operation and a short form base shelf prospectus. The company has established an at-the-market equity program (ATM Program) allowing for the issuance of up to $500 million (US) in common shares. The shelf prospectus enables offerings of various securities up to $2 billion (US) over the next 25 months. According to CFO Grant Isaac, these financial tools provide flexibility to support the company's strategy and risk management, complementing their strong balance sheet and cash flow generation from tier-one production.

Cameco (CCJ) reported strong Q3 2024 operational performance across all segments. Net earnings were $7 million, with adjusted EBITDA at $308 million. The company increased its 2024 annual dividend to $0.16 per share, payable December 13, with plans to double it to $0.24 by 2026. Uranium production outlook for 2024 was raised to 23.1 million pounds (company's share), though JV Inkai production was reduced to 7.7 million pounds due to acid supply challenges. The company updated its 2024 financial outlook, expecting consolidated revenue of $3.01-3.16 billion, reflecting strong market conditions and increasing uranium prices.

Cameco (TSX: CCO; NYSE: CCJ) has been ranked #14 on the TSX30 2024, an annual list of top-performing stocks on the Toronto Stock Exchange. The company's dividend-adjusted share price has increased by 186%, with a 210% rise in market capitalization over the past three years. Cameco CEO Tim Gitzel attributes this success to increased demand for nuclear power and the company's disciplined strategy.

The TSX30, established in 2019, recognizes the 30 best-performing TSX-listed companies based on dividend-adjusted share price performance over a three-year period. Cameco, as a leading global uranium fuel provider, has benefited from growing nuclear power demand while maintaining a focus on sustainability, including decarbonization efforts and community relationships.

Cameco (NYSE: CCJ) reported strong Q2 2024 results, aligning with its full-year outlook. Net earnings reached $36 million, with adjusted net earnings at $62 million, and adjusted EBITDA at $337 million. Revenues grew by 24% year-over-year to $598 million, driven by higher uranium sales and realized prices. Uranium production increased by 61% compared to Q2 2023, totaling 7.1 million pounds. Cameco's contract portfolio continues to expand, with annual commitments averaging 29 million pounds through 2028. The company maintains a robust balance sheet with $362 million in cash and $1.4 billion in debt. Cameco's financial strategy includes debt reduction and refinancing initiatives, supported by positive long-term demand for nuclear energy.

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.