Cameco: Strong Q3 Performance As Kazakh Output Falls Short

Cameco Corporation reported a non-GAAP EPS of -$0.01 and substantial revenue of $721M, up ~25% YoY, with a positive financial outlook and increased dividend.
Operational improvements and the reopening of the McArthur River/Key Lake mine boosted the 2024 production outlook despite supply issues in Kazakhstan.
The uranium market is supply side-driven; Cameco's long-term contracts and potential supply disruptions in Kazakhstan could keep uranium prices high, improving CCJ's income years from now.
If supply conditions in Kazakhstan normalize, as expected, the market seems to be headed back into a glut, pushing uranium back below $60-$70 per pound.

Cristian Martin/iStock via Getty Images

The uranium (UXA:COM) mining giant Cameco Corporation (NYSE:CCJ) reported Q3 results Thursday morning. It had a non-GAAP EPS of -$0.01, slightly below expectations, but with solid revenue of $721M, up ~25% YoY. Cameco

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":368861539717424,"tweetId":"368861539717424","gmtCreate":1731004255000,"gmtModify":1731076594208,"author":{"id":10000000000010872,"idStr":"10000000000010873","authorId":10000000000010872,"authorIdStr":"10000000000010873","name":"Harrison Schwartz","avatar":"https://community-static.tradeup.com/news/3caa8e02189196b324406870bb2d3718","vip":8,"userType":8,"introduction":",","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":7,"starInvestorFlag":false},"themes":[],"images":[{"img":"https://static.tigerbbs.com/868732341786cf24b7bf94acaa51348a"}],"coverImages":[{"img":"https://static.tigerbbs.com/868732341786cf24b7bf94acaa51348a"}],"title":"Cameco: Strong Q3 Performance As Kazakh Output Falls Short","html":"<html><head></head><body><ul>\n <li>Cameco Corporation reported a non-GAAP EPS of -$0.01 and substantial revenue of $721M, up ~25% YoY, with a positive financial outlook and increased dividend.</li>\n <li>Operational improvements and the reopening of the McArthur River/Key Lake mine boosted the 2024 production outlook despite supply issues in Kazakhstan.</li>\n <li>The uranium market is supply side-driven; Cameco's long-term contracts and potential supply disruptions in Kazakhstan could keep uranium prices high, improving CCJ's income years from now.</li>\n <li>If supply conditions in Kazakhstan normalize, as expected, the market seems to be headed back into a glut, pushing uranium back below $60-$70 per pound.</li>\n</ul>\n<img src=\"https://static.tigerbbs.com/868732341786cf24b7bf94acaa51348a\">\n\nCristian Martin/iStock via Getty Images\n\n<div class=\"inline_ad_placeholder\"></div>\nThe uranium (<a href=\"https://seekingalpha.com/symbol/UXA:COM\">UXA:COM</a>) mining giant Cameco Corporation (NYSE:<a href=\"https://seekingalpha.com/symbol/CCJ\">CCJ</a>) reported <a href=\"https://seekingalpha.com/news/4260139-cameco-non-gaap-eps-of-0_01-revenue-of-721m\">Q3 results Thursday</a> morning. It had a non-GAAP EPS of -$0.01, <a href=\"https://seekingalpha.com/news/4255874-cameco-q3-2024-earnings-preview\">slightly below expectations</a>, but with solid revenue of $721M, up ~25% YoY. Cameco</body></html>","htmlText":"<html><head></head><body><ul>\n <li>Cameco Corporation reported a non-GAAP EPS of -$0.01 and substantial revenue of $721M, up ~25% YoY, with a positive financial outlook and increased dividend.</li>\n <li>Operational improvements and the reopening of the McArthur River/Key Lake mine boosted the 2024 production outlook despite supply issues in Kazakhstan.</li>\n <li>The uranium market is supply side-driven; Cameco's long-term contracts and potential supply disruptions in Kazakhstan could keep uranium prices high, improving CCJ's income years from now.</li>\n <li>If supply conditions in Kazakhstan normalize, as expected, the market seems to be headed back into a glut, pushing uranium back below $60-$70 per pound.</li>\n</ul>\n<img src=\"https://static.tigerbbs.com/868732341786cf24b7bf94acaa51348a\">\n\nCristian Martin/iStock via Getty Images\n\n<div class=\"inline_ad_placeholder\"></div>\nThe uranium (<a href=\"https://seekingalpha.com/symbol/UXA:COM\">UXA:COM</a>) mining giant Cameco Corporation (NYSE:<a href=\"https://seekingalpha.com/symbol/CCJ\">CCJ</a>) reported <a href=\"https://seekingalpha.com/news/4260139-cameco-non-gaap-eps-of-0_01-revenue-of-721m\">Q3 results Thursday</a> morning. It had a non-GAAP EPS of -$0.01, <a href=\"https://seekingalpha.com/news/4255874-cameco-q3-2024-earnings-preview\">slightly below expectations</a>, but with solid revenue of $721M, up ~25% YoY. Cameco</body></html>","text":"Cameco Corporation reported a non-GAAP EPS of -$0.01 and substantial revenue of $721M, up ~25% YoY, with a positive financial outlook and increased dividend. Operational improvements and the reopening of the McArthur River/Key Lake mine boosted the 2024 production outlook despite supply issues in Kazakhstan. The uranium market is supply side-driven; Cameco's long-term contracts and potential supply disruptions in Kazakhstan could keep uranium prices high, improving CCJ's income years from now. If supply conditions in Kazakhstan normalize, as expected, the market seems to be headed back into a glut, pushing uranium back below $60-$70 per pound. Cristian Martin/iStock via Getty Images The uranium (UXA:COM) mining giant Cameco Corporation (NYSE:CCJ) reported Q3 results Thursday morning. It had a non-GAAP EPS of -$0.01, slightly below expectations, but with solid revenue of $721M, up ~25% YoY. Cameco","highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/368861539717424","repostId":0,"isVote":1,"tweetType":1,"viewCount":164,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":776,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/368861539717424"}