For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Cameco (CCJ) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.Cameco is one of 236 individual stocks in the Basic Materials sector. Colle ...

PALM BEACH, Fla., Jan. 10, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - Nuclear power is becoming a more dependable and scalable energy source due to the world's growing demand for electricity, particularly in emerging economies. Thus, the market for uranium mining is supported. Nuclear power becomes a more appealing alternative as countries work to fulfill these targets and switch to low-carbon energy sources. In order to meet these environmental goals, increasing nuclear power depends heavily ...

Cameco Corporation (NYSE:CCJ) Q3 2023 Earnings Conference Call October 31, 2023 8:00 AM ET Company Participants Rachelle Girard - VP-IR Tim Gitzel - President and CEO Grant Isaac - EVP and CFO Heidi Shake - SVP and Deputy CFO Sean Quinn - SVP, Chief Legal Officer and Corporate Secretary Conference Call Participants Orest Wowkodaw - Scotiabank Ralph Profiti - Eight Capital Lawson Winder - Bank of America Gordon Johnson - GLJ Research Katie Lechapelle - Canaccord Genuity Brian MacArthur - Raymond James Alex M ...

As at December 31, 2022 The fair value of Cameco's long-term debt is determined using quoted market yields as of the reporting date, which ranged from 4.0% to 5.1% (2022 - 3.3% to 4.2%). The following table summarizes the fair value of derivatives and classification on the consolidated statements of financial position: Cost of sales in the uranium segment includes care and maintenance costs for our operations that have had production suspensions as well as operational readiness costs for our operations that ...

Company Participants Tim Gitzel - President and Chief Executive Officer Heidi Shake - Senior VP and Deputy CFO Sean Quinn - Senior Vice President, Chief Legal Officer and Corporate Secretary Ralph Profiti - Eight Capital Greg Barnes - TD Securities Operator Rachelle Girard IÂ'm going to hand it over to Tim in just a moment to discuss how the improving growth outlook for nuclear power continues to drive an improving outlook for Cameco. After, we will open it up for your questions. If you join the conference ...

《C 2023 Q2 Conference Call August 2, 2023 This presentation includes forward-looking information or forward-looking statements under Canadian and U.S. securities laws, which we refer to as "forward-looking information". Forward-looking information can generally be identified by the use of words such as "approximately", "may", "will", "could", "believes", "expects", "intends", "should", "would", "plans", "potential", "project", "anticipates", "scheduled" or "forecasts", or other comparable terms that state t ...

Financial Performance - Net earnings for the three months ended June 30, 2023, were $13.693 million, compared to $83.937 million for the same period in 2022[6] - Revenue from products and services for the six months ended June 30, 2023, was $1.168 billion, up from $955.615 million in the same period in 2022[8] - Gross profit for the six months ended June 30, 2023, was $277.152 million, compared to $142.757 million in the same period in 2022[8] - Earnings per common share (basic and diluted) for the six months ended June 30, 2023, were $0.31, unchanged from the same period in 2022[8] - Total comprehensive income for the six months ended June 30, 2023, was $128.756 million, compared to $89.998 million in the same period in 2022[6] - Net earnings for the six months ended June 30, 2023, were $132.66 million, compared to $124.22 million in the same period in 2022[15] - Total comprehensive income for the six months ended June 30, 2023, was $128.76 million, compared to $89.99 million in the same period in 2022[15] - Revenue for the three months ended June 30, 2023 was $13.693 million, compared to $83.979 million for the same period in 2022[68] - Revenue for the six months ended June 30, 2023 was $132.662 million, compared to $124.329 million for the same period in 2022[68] - Net earnings for the three months ended June 30, 2023, were $13,693, compared to $83,937 in the same period in 2022[103][104] - Total revenue for the quarter was $955.6 million, with Uranium Fuel contributing $769.6 million (80.5% of total revenue) and Services contributing $174.6 million (18.3%)[112] - Gross profit for the quarter was $142.8 million, with Uranium Fuel generating $78.0 million and Services generating $66.6 million[112] - Net earnings for the quarter were $124.2 million, after accounting for income tax expense of $25.2 million[112] Cash and Liquidity - Cash and cash equivalents as of June 30, 2023, were $2.453 billion, up from $1.143 billion at December 31, 2022[13] - Net cash provided by operations for the six months ended June 30, 2023, was $302.07 million, compared to $273.74 million in the same period in 2022[19] - Cash and cash equivalents at the end of the period on June 30, 2023, were $2.45 billion, compared to $1.06 billion on June 30, 2022[19] - Cash and cash equivalents as of June 30, 2023 were $2.45396 billion, compared to $1.143674 billion as of December 31, 2022[81] Assets and Liabilities - Total current assets as of June 30, 2023, were $3.593 billion, compared to $3.321 billion at December 31, 2022[13] - Long-term debt as of June 30, 2023, was $497.774 million, down from $997 million at December 31, 2022[13] - Total shareholders' equity attributable to equity holders as of June 30, 2023, was $5.974 billion, up from $5.836 billion at December 31, 2022[13] - Accounts receivable decreased by $106.445 million in the three months ended June 30, 2023, compared to a decrease of $4.234 million in the same period in 2022[69] - Inventories, supplies, and prepaid expenses decreased by $129.521 million in the three months ended June 30, 2023, compared to a decrease of $39.245 million in the same period in 2022[69] - Long-term debt had a carrying value of $(997,000) and a fair value of $(1,014,010) as of December 31, 2022[93] - The fair value of Cameco's long-term debt is determined using quoted market yields ranging from 3.2% to 5.0% as of the reporting date[95] Inventory and Cost of Sales - Cost of sales for the six months ended June 30, 2023, was $891.809 million, up from $812.858 million in the same period in 2022[8] - Cameco expensed $796,178,000 of inventory as cost of sales for the six months ended June 30, 2023, compared to $670,771,000 in the same period of 2022[40] - As of June 30, 2023, Cameco had $479,264,000 worth of uranium concentrate inventory, down from $537,426,000 at December 31, 2022[40] - Cameco's total inventory value decreased to $633,397,000 as of June 30, 2023, from $664,698,000 at December 31, 2022[40] Joint Ventures and Investments - Cameco has a 40% interest in Joint Venture Inkai LLP, a joint arrangement with Kazatomprom, located in Kazakhstan[21] - JV Inkai, in which Cameco holds a 40% interest, reported net earnings of $110,888,000 for the six months ended June 30, 2023, up from $88,228,000 in the same period of 2022[45] - Cameco's share of JV Inkai's net assets was $209,869,000 as of June 30, 2023, down from $260,609,000 at December 31, 2022[45] - Cameco's ownership stake in the Cigar Lake uranium mine increased to 54.547% from 50.025% after acquiring an additional 4.522% interest for $101,681,000[36][37] - The acquisition of the additional interest in Cigar Lake Joint Venture would have added 296,000 pounds to Cameco's share of production if it had occurred at the beginning of 2022[32] - Cameco recorded a bargain purchase gain of $22,802,000 from the acquisition of additional interest in Cigar Lake Joint Venture[39] - Cameco entered into a strategic partnership with Brookfield Renewable Partners to acquire a 49% interest in Westinghouse Electric Company[110] Operations and Production - The Company's operations at McArthur River/Key Lake resumed in November 2022 after being suspended in 2018[22] - The Company operates the world's largest commercial refinery in Blind River, Ontario, and controls a significant portion of the world's UF6 primary conversion capacity in Port Hope, Ontario[23] - Cameco loaned 5,400,000 pounds of uranium concentrate to Orano Canada Inc., with 1,828,999 pounds repaid as of June 30, 2023[41] - Cameco expensed $25,693,000 in care and maintenance costs for the six months ended June 30, 2023, compared to $111,732,000 in 2022[101] - Revenue for the uranium segment was $368,308 for the three months ended June 30, 2023, compared to $447,226 in the same period in 2022[103][104] - Revenue for the fuel services segment was $113,459 for the three months ended June 30, 2023, compared to $98,928 in the same period in 2022[103][104] - Uranium sales in the Americas for the six months ended June 30, 2023, were $433,401, contributing significantly to total revenue[55] - Fixed-price contracts accounted for $307,865 of uranium sales for the six months ended June 30, 2023[55] - Cameco purchased uranium concentrate from JV Inkai for $93.4 million ($68.4 million US) in Q2 2023, a significant increase from $44.5 million ($35.0 million US) in the same period in 2022[113] - Cameco received a cash dividend from JV Inkai of $113.6 million ($83.1 million US) in Q2 2023, slightly higher than $104.9 million ($82.9 million US) in Q2 2022[114] Share-Based Compensation and Equity - Share-based compensation for the six months ended June 30, 2023, was $1.76 million, compared to $1.58 million in the same period in 2022[15] - Total share-based compensation expenses for the three months ended June 30, 2023 were $2.045 million, compared to $1.708 million for the same period in 2022[73] - Total share-based compensation expenses for the six months ended June 30, 2023 were $3.807 million, compared to $3.290 million for the same period in 2022[73] - The company granted 232,160 PSUs during the quarter with a weighted average fair value of $37.30 per unit[75] - The company granted 292,553 RSUs during the quarter with a weighted average fair value of $37.30 per unit[76] - Common shares outstanding as of June 30, 2023, were 433,308,237, with 2,263,804 stock options exercisable up to 2027[50] - Weighted average number of common shares outstanding in 2023 was 432,974,012, compared to 398,308,899 in 2022[67] Taxes and Provisions - The company expects to recover $209,125,000 in cash taxes, interest, and penalties related to a tax dispute with Canada Revenue Agency[41] - Deferred tax assets as of June 30, 2023, were $944,375,000, down from $984,071,000 as of December 31, 2022[62] - The Supreme Court of Canada dismissed the CRA's appeal, resolving the 2003, 2005, and 2006 tax years in the company's favor[64] - Total provisions decreased slightly to $1,046,471 as of June 30, 2023, from $1,071,030 at the beginning of the year[49] Financing and Transactions - In 2022, Cameco secured a bridge loan facility of $280 million (US) and term loans totaling $600 million (US) to fund its share of a purchase price[115] - Cameco issued 34,057,250 common shares in a public offering to help fund the acquisition[115] - Transaction costs of $51.7 million were included in supplies and prepaid expenses as of June 30, 2023, up from $41.2 million at the end of 2022[116] Foreign Exchange and Derivatives - Foreign exchange losses for the three months ended June 30, 2023, were $(43,578), compared to gains of $21,372 in the same period in 2022[61] - Foreign currency contracts had a fair value of $(48,251) as of December 31, 2022, compared to $(6,618) as of June 30, 2023[99] - Interest rate contracts had a fair value of $(7,284) as of December 31, 2022, compared to $(8,035) as of June 30, 2023[99] Other Financial Metrics - Additions to property, plant, and equipment for the six months ended June 30, 2023, were $66.90 million, compared to $66.07 million in the same period in 2022[19] - Dividends from equity-accounted investee for the six months ended June 30, 2023, were $113.64 million, compared to $104.94 million in the same period in 2022[19] - Deferred sales increased to $70,266 as of June 30, 2023, compared to $66,845 as of December 31, 2022[47] - Product loans increased significantly to $120,135 as of June 30, 2023, up from $78,094 as of December 31, 2022[47] - Finance costs for the six months ended June 30, 2023, totaled $46,342, up from $39,099 in the same period in 2022[60]

Summary of Cameco Corporation Conference Call Company Overview - **Company**: Cameco Corporation (NYSE: CCJ) - **Industry**: Uranium production and nuclear fuel supply chain - **Position**: Second largest producer of natural uranium globally and a major uranium converter supplying the Canadian nuclear industry with fabricated fuel bundles [1][3] Core Insights and Arguments - **Nuclear Demand Outlook**: The demand outlook for nuclear power is improving, leading to increased confidence among fuel buyers, which in turn drives term contracting and prices [3][4] - **Uncovered Requirements**: There is a significant stock of uncovered uranium demand, with 2.2 billion pounds needed by 2040 for the known reactor fleet, indicating a robust demand that cannot be deferred indefinitely [5][6] - **Price Formation**: Current contracting is below replacement rates, suggesting that as demand increases, price formation will occur. Historical data shows that strong price formation happens when utilities contract at or above replacement rates [9][10] - **Supply Side Challenges**: The supply side is not poised to respond quickly to the improving demand outlook due to previous low prices leading to project delays and shutdowns of primary supply sources [11][12] - **Regulatory Environment**: The acquisition of a 49% interest in Westinghouse Electric is seen as transformational, enhancing vertical integration in the nuclear fuel supply chain [15][16] Additional Important Points - **McArthur River Mine**: The mine is set to ramp up production to 15 million pounds in 2023 and potentially 18 million pounds in 2024, with production already contracted [24][25] - **Small Modular Reactors (SMRs)**: There is optimism about the future of SMRs, but significant contributions to uranium demand are not expected for about a decade [27][28] - **Term Market Focus**: The company emphasizes its focus on the term market rather than the spot market, with current term prices around $53 to $54 per pound, providing a solid floor for future contracts [31][34] Conclusion - **Strategic Positioning**: Cameco is strategically positioned across the nuclear fuel cycle, maintaining a disciplined approach to production and supply in anticipation of growing demand, while also navigating the complexities of regulatory approvals and market dynamics [14][22]

The question on everyoneÂ's mind now seems to be how quickly can you respond with more production. However, I think we have been very clear for us, it is not about volume, it is about maximizing value. The key to our production planning and potential future growth decisions is long-term utility procurement. Contracting comes first in all segments of our business. As we have said, time-and-time again, nuclear is a longterm market and spot activity is discretionary. Once we have finalized contracts in hand an ...

Cameco Corporation (NYSE:CCJ) BMO Global Metals and Mining Conference February 28, 2022 1:30 PM ET Company Participants Tim Gitzel - President, CEO Unidentified Company Representative Right, ladies and gentlemen, I'm pleased to welcome next on-stage Tim Gitzel, President and CEO of Cameco. Note we are restricted on Cameco, so, I can only provide Q&A that has come via the app. So please make sure you put your questions into the app, so we can ask some questions at the end. So, welcome, Tim. Tim Gitzel Well ...