Cameco results: Stock falls as uranium miner swings to Q1 loss; analyst says buy the dip [Yahoo! Finance Canada]
Cameco Corporation (CCJ)
Last cameco corporation earnings: 5/1 07:00 am
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Source: Yahoo! Finance Canada
Cameco ( CCO.TO CCJ ) shares fell as much as six per cent in early trading on Tuesday after the Canadian uranium producer swung to a loss in its latest quarter. The Saskatoon-based company blamed seasonal sales trends, as well as its recently acquired 49 per cent stake in Westinghouse Electric Cameco reported a $7 million net loss for the three months ended March 31, compared with $119 million profit in the same quarter last year. Revenue dropped to $634 million from $687 million, as uranium sales fell below analyst forecasts. “Financial results are in line with the 2024 outlook we provided, which has not changed, and are as expected, reflecting normal quarterly variability,” Cameco president and CEO Tim Gitzel stated in a news release. Toronto-listed shares fell 5.3 per cent to $63.98 as at 10:09 a.m. ET. The stock has benefited from soaring uranium prices amid fears of short supply coupled with strong demand . Shares are up over 81 per cent over the past 12 months. ADVERTIS
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CCJ
Earnings
- 4/30/24 - Miss
CCJ
Sec Filings
- 5/10/24 - Form 144
- 5/10/24 - Form 6-K
- 5/7/24 - Form 144
- CCJ's page on the SEC website