Cameco Stock Price, News & Analysis

Cameco will announce its first quarter results on May 5, 2022, before market opening. Investors and media are invited to join a conference call at 8:00 a.m. Eastern on the same day, where the company will discuss market trends and strategic execution. Details to join the call are provided, including toll-free numbers for Canada and the US. A recorded version will be available following the call until June 5, 2022. Cameco is a leading provider of uranium fuel, leveraging its high-grade reserves and competitive operations to support global nuclear power generation.

Cameco reported its Q4 and full-year financial results for 2021, highlighting significant operational adjustments due to market conditions. The company recorded a net loss of $103 million for the year, influenced by COVID-19 impacts and production suspensions. However, Cameco announced a 50% increase in its dividend for 2022, reflecting positive cash management and a strong balance sheet of $1.3 billion in cash and equivalents. The company is set to continue its supply discipline strategy, aiming for production reductions while awaiting market improvements.

Cameco reported Q3 2021 results with a net loss of $72 million, attributed to production suspensions for health reasons. Despite ongoing care and maintenance at McArthur River and Key Lake, uranium prices rose 46% since June, positively affecting long-term contracts. Cash reserves stood at $1.4 billion against $1 billion debt, enabling continued strategic investments and the potential for growth in nuclear power demand. The company declared an annual dividend of $0.08 per share, payable December 15, 2021.

Cameco has signed a non-binding Memorandum of Understanding (MOU) with Terrestrial Energy to explore the deployment of Integrated Molten Salt Reactor (IMSR) Generation IV power plants in North America and globally. The partnership aims to evaluate uranium supply opportunities, including potential use of Cameco’s Port Hope facility for IMSR fuel salt. This agreement follows previous collaborations for uranium product supply. Both companies emphasize the role of nuclear energy in achieving carbon-free power and net-zero emissions, with Cameco positioning itself as a key supplier for the small modular reactor market.

Cameco (CCJ) has signed a Memorandum of Understanding (MOU) with GE Hitachi Nuclear Energy and Synthos Green Energy to evaluate a uranium fuel supply chain in Canada for BWRX-300 small modular reactors (SMRs) in Poland. The MOU aims to support carbon-free electricity generation, aligning with global decarbonization goals. This initiative builds on previous agreements to advance the commercialization of SMRs. However, the MOU is non-exclusive and non-binding, and comes with several forward-looking statements about potential risks and uncertainties in execution.

Cameco and X-energy have signed a Memorandum of Understanding to explore collaboration for the deployment and servicing of Xe-100 small modular reactors (SMRs) in North America. Cameco aims to be a fuel supplier for the emerging SMR market, while X-energy plans to launch its advanced reactor technology by 2027. The U.S. Department of Energy has awarded X-energy approximately $1.23 billion to develop a commercial-scale power plant using the Xe-100 design. This partnership could significantly impact the Canadian uranium market, generating over $310 million in economic benefits.

On August 15, 2021, Cameco and Silex Systems announced the appointment of Stephen M. Long as CEO of Global Laser Enrichment LLC, effective September 1, 2021. Long, who previously held key roles at GE-Hitachi Nuclear Energy, is expected to lead GLE in advancing the SILEX laser enrichment technology and steering its commercialization strategy. His background includes significant experience in the nuclear fuel industry, positioning him to effectively manage GLE's development and market expansion. This leadership change follows GLE's successful restructure in January 2021.

Cameco reported its Q2 2021 results with a net loss of $37 million, reflecting a 30% improvement from $53 million in Q2 2020. The company suspended production at Cigar Lake due to health risks and incurred $8 million in care costs, offset partially by $9 million from the Canadian Employment Wage Subsidy. Despite a 32% year-over-year revenue drop to $359 million, Cameco maintains a strong balance sheet with $1.2 billion in cash. The company added 7 million pounds of U3O8 to its contract portfolio, with a total of 16 million pounds in 2021 contracts.