Cameco Corp

CCO

Equity

ISIN CA13321L1085 / Valor 680579

Toronto Stock Exchange (2024-12-24)

CAD 75.66-0.92%

Cameco Corp
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About company

Cameco Corp is a leading global provider of uranium fuel for nuclear power generation, with a strong competitive position due to its ownership of the world's largest high-grade reserves and low-cost operations. The company also has investments in various aspects of the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities worldwide rely on Cameco for nuclear fuel solutions to generate safe, reliable, and carbon-free nuclear power. Additionally, Cameco is a significant employer of Indigenous people in Canada and holds extensive land holdings for exploration near its operations in northern Saskatchewan. The company is headquartered in Saskatoon, Saskatchewan, Canada.

Summarized from source with an LLMView SourceSector: Energy

Net Earnings

Cameco Corp reported net earnings of $7 million for the third quarter of 2024. This reflects the impact of normal quarterly variations in sales volumes and delayed sales for Joint Venture Inkai due to transportation challenges. Adjusted net losses were $3 million, and adjusted EBITDA was $308 million for the same period.

Revenue and Outlook

The company has updated its financial outlook for 2024, with expected consolidated revenue now projected to be between $3.01 billion and $3.16 billion. This increase is driven by a stronger US dollar and a higher expected uranium average realized price of $77.80 per pound.

Uranium Segment Performance

Cameco's uranium segment showed strong performance in the third quarter of 2024, with higher revenues and gross profit compared to the previous year. Deliveries during the quarter were 7.3 million pounds, higher than the same period in 2023, while year-to-date deliveries were 20.8 million pounds.

Dividend Announcement

The board of directors declared a 2024 annual dividend of $0.16 per common share, payable on December 13, 2024. This decision aligns with the company's capital allocation framework and reflects the return to its tier-one production rate.

Production Outlook

Cameco has updated its 2024 uranium production outlook to be up to 37.0 million pounds, with its share being up to 23.1 million pounds. This adjustment is in response to positive market momentum and aims to meet commitments under long-term contracts.

Summarized from source with an LLMView Source

Key figures

30.7%1Y

164%3Y

549%5Y

Performance

43.0%1Y

46.0%3Y

48.5%5Y

Volatility