Cameco Stock Price, News & Analysis

Cameco has reached an agreement with Orano Canada to acquire Idemitsu's 7.875% interest in the Cigar Lake Joint Venture for approximately $107 million CDN. Following the acquisition, Cameco will increase its ownership in the Cigar Lake uranium mine to 54.547%, while Orano will hold 40.453%. The mine is projected to produce 15 million pounds of uranium concentrate in 2022. While Cameco plans to reduce annual production to 13.5 million pounds starting in 2024, this acquisition adds substantial proven and probable reserves, bolstering its strategic position in the uranium market.

Cameco (NYSE: CCJ) held its annual meeting on May 10, 2022, where shareholders elected nine board members. Among the elected are Leontine Atkins, Ian Bruce, and Tim Gitzel, with voting percentages ranging from 88.57% to 99.07%. The company, a leading provider of uranium fuel, emphasizes its low-cost operations and high-grade reserves to support clean nuclear energy generation for utilities worldwide.

Cameco reported strong growth in its Q1 2022 results, with revenue increasing 37% to $398 million and net earnings of $40 million. This performance is attributed to rising uranium prices, up 38% year-to-date, and improved contract deliveries. The company produced 1.9 million pounds of uranium and sold 5.9 million pounds at a 34% higher average realized price than last year. Cameco emphasized its strategic approach to managing supply discipline while exploring long-term contract opportunities, amidst a shifting geopolitical landscape affecting uranium supply.

Cameco (NYSE:CCJ) has filed its annual report on Form 40-F with the US Securities and Exchange Commission, including audited financial statements for the year ended December 31, 2021. The company submitted its annual information form (AIF) with Canadian securities authorities, with documents available on its website. Notably, the management proxy circular will be posted on April 6, 2022, ahead of its annual meeting on May 10, 2022. Cameco is a leading uranium fuel provider, leveraging its high-grade reserves and cost-efficient operations to support nuclear energy generation.

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.