Cameco Sees Canaccord Cut Price Target To $43

Cameco Sees Canaccord Cut Price Target To $43

Cameco (TSX: CCO) last week reported its first-quarter financial results, where it showcased strong year-over-year increases. The company said its revenue grew 37% year over year to $398 million, while its gross profits came in at $50 million, compared to ($40) million last year. This led the company to report positive net earnings of $40 million, or earnings per share of $0.10.

For the company’s segmented results, they said that the average realized price per pound for uranium was US$43.24, up 34% year over year. While it produced 1.9 million pounds of Uranium and sold 5.9 million pounds.

The CEO, Tim Gitzel, said in the news release, “With the recent uranium price increase, we are beginning to enjoy the benefits of the strategic and deliberate decisions we have made. And, with leverage to rising prices, we are well-positioned to continue to capture value from the market transition we believe is underway, […]

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