15:21:41 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Cameco Corp
Symbol CCO
Shares Issued 433,308,237
Close 2023-09-06 C$ 50.25
Market Cap C$ 21,773,738,909
Recent Sedar Documents

Globe says Eight Cap's Profiti keeps Cameco at "buy"

2023-09-06 07:46 ET - In the News

The Globe and Mail reports in its Wednesday, Sept. 6, edition that Eight Capital analyst Ralph Profiti continues to rate Cameco "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Profiti's share target soared by $8 to $60. Analysts on average target the shares at $52.06. Mr. Profiti says Cameco is "well-positioned for improved financial performance." He cites "rising uranium prices, exposure to market-related contract terms (albeit limited), improved cost structure as Cigar Lake and McArthur River reach licensed production rates, and the benefits of vertical integration in the uranium and fuel services businesses through the pending acquisition of a 49-per-cent interest in the Westinghouse Electric JV." On Sunday, Cameco said "challenges" at its Cigar Lake mine and Key Lake mill are likely to "impact" its 2023 production forecast. It lowered its Cigar Lake production forecast to 16.3 million pounds of uranium concentrate from 18 million and its McArthur River/Key Lake expectation to 14 million pounds from 15 million pounds. Equipment reliability, availability of skilled and experienced personnel, and supply chain challenges are cited as causes for the shortfall.

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