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

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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":105,"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"}