Shares of Cameco (CCJ) have gained 6% since it reported third-quarter 2024 results on Nov. 6. CCJ incurred a loss of 1 cent in the quarter against earnings of 24 cents in the year-ago quarter. However, revenues improved 23% year over year. Cameco missed the Zacks Consensus Estimate for revenues and earnings.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The CCJ stock closed at $54.41 yesterday, 7% below its 52-week high of $54.41 and 53.6% above its 52-week low of $35.43. Year to d ...

Harrison is a financial analyst who has been writing on Seeking Alpha since 2018 and has closely followed the market for over a decade. He has professional experience in the private equity, real estate, and economic research industry. Harrison also has an academic background in financial econometrics, economic forecasting, and global monetary economics.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such position ...

Cameco stock probably costs too much -- but it's hard to argue with this growth story.Cameco (CCJ 3.90%) stock jumped 4% through 11:50 a.m. ET Thursday despite reporting mixed earnings this morning.Heading into the Q3 report, analysts forecast the uranium mining stock would report $535.8 million in quarterly sales -- a number Cameco beat with a stick, reporting sales of $721 million. That's the good news.The bad news is Cameco was supposed to be very profitable on those sales, earning $0.18 per share. Inste ...

Financial Data and Key Metrics - Adjusted EBITDA for the first nine months reached nearly $1 billion, excluding acquisition-related purchase price adjustments [15] - The company increased its dividend from $0.12 in 2023 to $0.16 per common share for 2024, with plans to double the 2023 dividend to $0.24 by 2026 [28][29] - Production at the Key Lake Mill exceeded expectations, with 2024 production now expected to reach 19 million pounds, up from the previous estimate of 18 million pounds [31] - Production from JV Inkai is expected to be 7.7 million pounds, down from the previous estimate of 8.3 million pounds due to sulfuric acid supply challenges [35] Business Line Performance - Uranium segment: Production at Key Lake Mill exceeded expectations, with automation and digitization projects contributing to improved performance [31] - Fuel services segment: Production was 60% higher than the third quarter of the previous year, driven by the commissioning of a new closed-loop water system at Port Hope [40] - Westinghouse investment: Adjusted EBITDA outlook remains positive, with a 6% to 10% growth rate expected over the next five years [55] Market Data and Key Metrics - Long-term uranium prices have reached their highest level in over a decade, but significant investments in new projects are still lacking [19] - Long-term contract volumes increased from 50 million pounds at the end of September to 90 million pounds by early November, driven by larger contracts signed in October [24] - The conversion segment of the fuel cycle remains tight, with prices at historic highs [24] Company Strategy and Industry Competition - The company is focused on optimizing Tier 1 assets and returning to a Tier 1 cost structure, with strong production performance and a solid financial position [5][28] - Cameco is well-positioned to leverage opportunities in the nuclear industry, with a strategy centered on full-cycle value and investments across the reactor life cycle [27] - The company is selective in committing uranium inventory and UF6 conversion capacity to maintain exposure to rising prices while protecting against downside risks [23] Management Commentary on Operating Environment and Future Outlook - Management highlighted the growing demand for nuclear power, driven by decarbonization, sustainability, energy security, and rising energy demand [17][18] - The U.S. ban on Russian uranium imports has created supply challenges, but the company is well-positioned to meet demand from responsible and reliable suppliers [20][27] - The company expects long-term contracting activity to gain momentum, with increased utility interest and off-market negotiations [22][23] Other Important Information - The company repaid $100 million of its floating rate term loan in Q3, bringing year-to-date repayments to $400 million, with plans to repay the remaining $200 million [46] - Cameco is finalizing an updated National Instrument 43-101 technical report for the Inkai mine, which will include updated reserves, production profiles, and cost information [37] - The company appointed David Doerksen as Senior Vice President and Chief Marketing Officer, and Lisa Aitken as Vice President Marketing [48] Q&A Session Summary Question: Long-term contracting and procurement behavior - Management noted that utilities are starting to shift their focus upstream in the fuel cycle, with uranium demand expected to increase as enrichment and conversion markets tighten [51][53] Question: Westinghouse's long-term EBITDA growth rate - The company maintains its 6% to 10% EBITDA growth rate for Westinghouse, with potential for upward adjustments as new projects reach final investment decisions [54][55] Question: Inkai production challenges and Tier 2 assets - Production at Inkai is impacted by sulfuric acid supply issues, but the company remains committed to the project. Tier 2 assets remain on care and maintenance, with potential for future reactivation [61][63] Question: Conversion market and Springfield restart - The conversion market remains tight, and the company is strategically patient in restarting the Springfield facility, waiting for stronger contracting cycles and pricing [66][71] Question: New nuclear builds and AP1000 role - The company sees significant opportunities for new nuclear builds, particularly with the AP1000 reactor, which is well-positioned to meet future energy demands [74][78] Question: Uranium pricing and cost inflation - Management emphasized the structural gap between uranium supply and demand, with higher prices needed to incentivize new production. Cost inflation is being managed through automation and digitization investments [89][102] Question: Westinghouse's Q4 performance - Westinghouse is expected to have a strong Q4 due to seasonality in its business, with higher margin work typically occurring during the fall outage season [105][107] Question: Long-term contracting and price negotiations - The company is disciplined in its contracting approach, with floor and ceiling prices for long-term contracts remaining at $70 and $130, respectively. Higher prices are expected as demand increases [119][125] Question: Uranium price seasonality - Uranium prices typically show seasonality, with stronger demand in the fall and winter months. The company expects higher prices to address the structural supply-demand gap [135][142]

Cameco (CCJ) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of $0.26. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -103.85%. A quarter ago, it was expected that this uranium producer would post earnings of $0.28 per share when it actually produced earnings of $0.10, delivering a surprise of -64.29%.Over the last four quarters, the company has not been ...

Carneco Energizing a clean-air world 2024 Q3 Conference Call November 7, 2024 Forward-Looking Information Caution . This presentation includes forward-looking information or forward-looking statements under Canadian and U.S. securities laws, which we refer to as "forward-looking information". Forward-looking information can generally be identified by the use of words such as "approximately", "may", "will", "could", "believes", "expects", "intends", "should", "would", "plans", "potential", "project", "antici ...

Exhibit 99.3 Cameco Corporation 2024 condensed consolidated interim financial statements (unaudited) November 6, 2024 Cameco Corporation Consolidated statements of earnings See accompanying notes to condensed consolidated interim financial statements. | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------------------------|-----------|--------------------------|---------------------|------------------------ ...

Cameco Corporation (CCJ) is scheduled to report third-quarter 2024 results on Nov. 7, before the opening bell.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Consensus Estimate for CCJ’s earnings for the third quarter is pegged at 26 cents per share, which indicates an 8.3% improvement from the prior-year quarter’s reported figure. Over the past 60 days, the estimate has moved up 8.3%.  Image Source: Zacks Investment Research The consensus estimate for Cameco’s third-quart ...

Google became the latest tech giant and cloud service provider to sign agreements to procure power generated by nuclear reactors in October, and that's good news for the industry at large.Shares in uranium, nuclear fuels, and services company Cameco Corporation (CCJ 0.54%) rose by 12.6% in October, according to data from S&P Global Market Intelligence. The move comes in an improving backdrop for stocks aligned with the nuclear industry, and Cameco is the best way to get pure-play exposure to the industry li ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Cameco (CCJ) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on November 7, 2024, might help the stock move higher if these key numbers are better than expec ...