Cameco shares rise with increased uranium prices while Shopify drops on a market-wide correction — here are the past week’s corporate winners and losers

Cameco shares rise with increased uranium prices while Shopify drops on a market-wide correction — here are the past week’s corporate winners and losers

Cameco Corporation (CCO.TO) +13.1%

Cameco produces and sells uranium to companies around the world. Cameco’s share price has benefitted from rising uranium prices, closing more than four per cent higher Thursday compared to market open Tuesday. In its second-quarter 2021 results ended June 30, the company reported revenues of $359 million, down 32 per cent from $525 million the prior year. Cameco reported a loss of $37 million for the quarter, an improvement over the $53 million loss the prior year.

Sprott Inc. (SII.TO) +6.5%

Sprott is an asset management firm specializing in precious metals. The company has been purchasing large quantities of uranium, which has pushed up prices of the nuclear fuel. As of July 31, the company’s physical trust has $623 million (U.S.) worth of uranium in its possession. In its second-quarter 2021 results ended June 30, the company reported total revenue of $36 million, up from […]

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