Core Insights - Cameco (CCJ) has signed a long-term agreement to supply natural uranium hexafluoride (UF6) to Slovenské elektrárne (SE), Slovakia's largest electricity producer, through 2036, marking its entry into the Slovak market and aligning with its strategy to expand globally in nuclear fuel [1][7]. Group 1: Company Operations - SE generates over 60% of Slovakia's electricity and has transitioned to carbon-free electricity production by shutting down its last coal-fired power plant in Q1 2024, currently operating five nuclear reactors, 31 hydropower plants, and two photovoltaic plants [2]. - Cameco will provide uranium and conversion services to support SE's Bohunice and Mochovce nuclear facilities starting in 2028, with conversion being a critical stage in the nuclear fuel cycle [3]. - As of December 31, 2024, Cameco had contracts to sell approximately 220 million pounds of uranium and about 85 million kilograms of UF6 conversion services to 41 and 34 customers worldwide, respectively [4]. Group 2: Market Position and Performance - Cameco controls roughly 20% of the world's primary UF6 conversion capacity, positioning it among industry leaders alongside Orano, Rosatom, and ConverDyn [5]. - In 2024, Cameco's fuel services segment produced 13.5 million kgU, including 10,781 tonnes of UF6, with a target of 13–14 million kgU in 2025, indicating strategic importance for growth and long-term contracts [5]. - Year-to-date, Cameco shares have increased by 52%, outperforming the industry growth of 21.5%, while other uranium producers like Energy Fuels and Centrus Energy have seen gains of 138.3% and 240.3%, respectively [6]. Group 3: Financial Estimates - The Zacks Consensus Estimate for Cameco's earnings for fiscal 2025 indicates a year-over-year growth of 130.6%, with a 31.3% growth estimate for 2026 [11]. - The consensus estimate for Cameco's earnings has seen upward revisions over the past 60 days, while the estimate for 2026 has decreased [12].