Financial Data and Key Metrics Changes - The company reported a significant improvement in financial performance metrics in 2023, with net earnings, adjusted net earnings, and cash from operations all more than doubling compared to the previous year [94] - Adjusted EBITDA also saw a substantial increase, reflecting higher sales volumes and realized prices in the uranium and fuel services segments [94][116] Business Line Data and Key Metrics Changes - The company ended 2023 with total long-term commitments of 205 million pounds of uranium with 37 customers worldwide, representing about 20% of its current reserve and resource base [98] - The company plans to increase UF6 production at Port Hope to 12,000 tonnes in 2024, which would exceed record production levels set in previous years [111] Market Data and Key Metrics Changes - The spot market was smaller in 2023 than in 2022, indicating a shift in utilities' focus from the spot market to the term market [32] - The market is entering a security of supply contracting cycle, with utilities looking for longer-term contracts and increased volumes [34] Company Strategy and Development Direction - The company believes it remains the best way to invest in the recovery of the nuclear fuel cycle, emphasizing the importance of nuclear energy in achieving net zero carbon emissions [25] - The company is focused on disciplined growth, aligning production decisions with customer needs and long-term commitments, avoiding excess supply in the market [96][117] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durable and growing demand for nuclear energy, driven by geopolitical tensions and climate change considerations [86][89] - The company is optimistic about the long-term fundamentals of the uranium market, expecting strong demand to continue building rather than peaking [35][91] Other Important Information - The company has a strong balance sheet with $567 million in cash and approximately $1.8 billion in total debt, positioning it well for future investments [116] - The company is undertaking a study to evaluate the expansion of the MacArthur River mine and Key Lake Mill, potentially increasing annual production from 18 million pounds to 25 million pounds [105] Q&A Session Summary Question: Cigar Lake extension production levels - Management confirmed plans to maintain production at 18 million pounds per year until 2036, with ongoing evaluations for potential extensions beyond that date [16] Question: Westinghouse guidance for CAGR - The guidance for Westinghouse's CAGR of 6% to 10% includes only announced contracts, with potential for more upside as new markets are evaluated [17] Question: Inkai purchases and timing - Management stated that the table assumes expected volumes from Inkai will arrive, but acknowledged potential timing differences [41] Question: Conversion plant at Springfields - Management indicated ongoing interest in the conversion plant, emphasizing the need for a responsible and disciplined approach to restarting operations [45][46] Question: G&A expenses in Westinghouse - Management explained that higher G&A expenses are due to the high-touch nature of the Westinghouse business, which involves significant engagement in developing new markets [52][55] Question: Future pricing in the conversion market - Management noted that the conversion market has not yet fully accounted for risks related to supply disruptions, suggesting potential for continued price increases [58][60]

SASKATOON, Saskatchewan--(BUSINESS WIRE)--Cameco (TSX: CCO; NYSE: CCJ) today reported its consolidated financial and operating results for the fourth quarter and year ended December 31, 2023, in accordance with International Financial Reporting Standards (IFRS). “ Our 2023 financial performance benefitted from higher sales volumes and realized prices in our uranium and fuel services segments. Our net earnings, adjusted net earnings, and cash from operations all more than doubled compared to 2022, with adju ...

Cameco Corporation (CCJ) is scheduled to report fourth-quarter 2023 results on Feb 8, before the opening bell.Q4 EstimatesThe Zacks Consensus Estimate for CCJ’s fourth-quarter earnings is pegged at 21 cents per share, which indicates a solid 200% improvement from the earnings of 7 cents per share reported in the prior-year quarter. Over the past 30 days, the estimate has moved down 5%.Q3 PerformanceCameco reported adjusted earnings per share of 24 cents in the third quarter of 2023 compared with 2 cents in ...

The world has collectively gotten off to a slow start in reducing emissions and transitioning to a carbon-free model. Yet, these renewable energy stocks for 2024 look primed to deliver strong results for investors. And that is partially because we’re currently so far behind in addressing the pressing issue of climate change. One reason 2024 could be a big year for these stocks is the renaissance of nuclear energy, which has entered back into public awareness recently. Some analysts expect that nuclear energ ...

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Cameco (CCJ) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.Cameco is a member of the Basic Materials sector. This group includes 236 individual stocks and currently holds a Zacks Sector Rank of #15. The Zacks Sector Rank cons ...

Whenever the discussion pivots to stocks to buy for long-term growth, invariably, the “accretive” technology sector garners a tremendous amount of the spotlight. By accretive, I’m referring to solutions that forward productivity, such as artificial intelligence or electric vehicles. However, many other sectors warrant consideration, especially if we’re going to extend the timeline.In particular, some rising evidence points to much-hyped endeavors potentially not meeting muster. Let’s look at generative AI. ...

Key TakeawaysCameco shares jumped on Friday after the price of uranium climbed to its highest level in 16 years amid supply concerns.Last year, Cameco cut output guidance for two of its largest mines due to operational challenges. CCJ shares gapped above their December high on the highest trading volume since early June, indicating buyer conviction.Here is a look at a chart tied to Cameco's recent news-driven price move, with important technical levels to monitor.Source: TradingView.com.Uranium mining giant ...

Worries over Kazakhstan's ability to maintain the production levels necessary to keep the world supplied with uranium sparked a bull market in uranium stocks on Friday. Shares of Cameco (CCJ 7.01%), the world's No. 2 producer of uranium and by far the most valuable uranium stock in the West with a $22 billion market capitalization, gained nearly 10% in afternoon trading, while smaller Denison Mines (DNN 8.89%) and Uranium Energy (UEC 12.39%) both surged past 10% gains.As noted earlier today, both uranium an ...

Bad news out of Kazakhstan sparked a surge in the share prices of multiple uranium stocks on Friday, with shares of companies such as Cameco (CCJ 7.74%) and Denison Mines (DNN 8.33%) rising 9.6% and 9.7% through 1:15 p.m. ET, while Corpus Christi, Texas-based uranium producer Uranium Energy (UEC 11.83%) beat them both with a 12.1% gain.As the Financial Times reported this morning, Kazakh uranium mining company Kazatomprom has warned that a lack of supply of sulfuric acid, used in the extraction of uranium m ...

Shares of a wide range of uranium stocks are seeing a big upside today as investors price some rather bullish prospects into uranium producers to kick off 2024. For major players such as Cameco (NYSE:CCJ), Uranium Energy (NYSE:UEC) and NexGen Energy (NYSE:NXE), this enthusiasm has prompted share price gains of between 7% and 12% at the time of writing.Much of this move concerns surging uranium prices, which have risen to their highest levels since 2007. This move has led various analysts to suggest that the ...