Kazatomprom: BMO Lowers Target To $47.50 Following “Erosion of Sentiment”

Last week Kazatomprom (LSE: KAP) , one of the largest uranium producers reported it’s full-year 2021 results and updated investors on the geopolitical event of Russia and Ukraine. For the results, the company reported full-year revenues of US$1.62 billion, up 14% year over year. This was because of a monster fourth quarter, wherein the company saw revenue balloon from US$224.9 million in the third quarter to US$834.2 million, which is up 270% year over year.

The company saw its gross profits grow 4% year over year to US$673.87 million, again thanks to the fourth quarter where gross profits grew 365% year over year to US$394.32 million. Total expenses grew 21% year over year to US$1.06 billion, putting the company’s operating profit at US$561.49 million, an increase of only 3% for the year. The majority of this increase came from the fourth quarter, which grew almost 500% year over year to […]

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