Cameco posts net earnings of C$119M in Q1 on higher uranium production and prices

Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day’s top stories directly to your inbox. Sign up here! ( Kitco News ) – Cameco (TSX: CCO ) (NYSE: CCJ ), one of the largest global producers of uranium fuel, today reported net earnings of C$119 million and adjusted net earnings of C$115 million for Q1 2023, compared to net earnings of C$40 million and adjusted net earnings of C$17 million in Q1 2022.

The company said its Q1 2023 results are a result of higher deliveries and higher average realized prices in both the uranium and fuel services segments "as we continue the transition to our tier-one cost structure.”

"In our uranium segment, our average realized price was 11% higher than the same period last year, and in our fuel services segment average realized prices were 9% […]

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