Even if Wall Street is right about uranium prices, it could still be wrong about Cameco."Buy low, sell high" -- that's most investors' goal when investing in a stock, but it's easier said than done. How do you know if a stock will go up or down before you buy it?Take Cameco Corporation (CCJ 2.84%) for example. It's the biggest publicly traded uranium mining stock by market cap in the world and the second biggest by sales. (In Kazakhstan, Kazatomprom makes more money but is worth less). Helped by surging ura ...

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Toronto, Ontario--(Newsfile Corp. - November 26, 2024) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") is pleased to announce the approval of a $1.2 million drilling program at the Smart Lake Joint Venture (JV) Project, marking a significant return to this highly prospective project within the southwestern Athabasca Basin, Saskatchewan, Canada.The Smart Lake JV, jointly owned by Cameco Corporation (73%) and Purepoint (27%), exemplifies Purepoint's strategy of advanc ...

Nuclear power is making a comeback. Over the past year, 31 nations have signed the Declaration to Triple Nuclear Energy, pledging to triple their nuclear energy capacity by 2050. Major financial institutions like Bank of America, Citigroup, Goldman Sachs, and Morgan Stanley are on board, amplifying this wave of support.When you pair this with relentless demand for energy from the tech industry, it's clear that nuclear power will play a vital role in the future of clean energy. One of the key players in the ...

With Cameco (CCJ 3.47%) trading at roughly 26 times its estimated 2025 earnings, no investor is buying stock in this uranium, nuclear fuel services, and nuclear plant services company for what it is now. It's far more likely they are buying for what it could become in the future.As such, the case for the stock doesn't just rest on a "connect the dots" approach to its metrics and the possibility of an expanded role for nuclear energy. There is something more going on here. Let's explore.The case for CamecoTh ...

Cameco (CCJ) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this uranium producer have returned -5%, compared to the Zacks S&P 500 composite's +3.1% change. During this period, the Zacks Mining - Miscellaneous industry, which Cameco falls in, has lost 7.7%. The key question now is: What could be the stock's future direction?While media releases or ...

Shares of Cameco (CCJ) have gained 6% since it reported third-quarter 2024 results on Nov. 6. CCJ incurred a loss of 1 cent in the quarter against earnings of 24 cents in the year-ago quarter. However, revenues improved 23% year over year. Cameco missed the Zacks Consensus Estimate for revenues and earnings.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The CCJ stock closed at $54.41 yesterday, 7% below its 52-week high of $54.41 and 53.6% above its 52-week low of $35.43. Year to d ...

Harrison is a financial analyst who has been writing on Seeking Alpha since 2018 and has closely followed the market for over a decade. He has professional experience in the private equity, real estate, and economic research industry. Harrison also has an academic background in financial econometrics, economic forecasting, and global monetary economics.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such position ...

Cameco stock probably costs too much -- but it's hard to argue with this growth story.Cameco (CCJ 3.90%) stock jumped 4% through 11:50 a.m. ET Thursday despite reporting mixed earnings this morning.Heading into the Q3 report, analysts forecast the uranium mining stock would report $535.8 million in quarterly sales -- a number Cameco beat with a stick, reporting sales of $721 million. That's the good news.The bad news is Cameco was supposed to be very profitable on those sales, earning $0.18 per share. Inste ...

Financial Data and Key Metrics - Adjusted EBITDA for the first nine months reached nearly $1 billion, excluding acquisition-related purchase price adjustments [15] - The company increased its dividend from $0.12 in 2023 to $0.16 per common share for 2024, with plans to double the 2023 dividend to $0.24 by 2026 [28][29] - Production at the Key Lake Mill exceeded expectations, with 2024 production now expected to reach 19 million pounds, up from the previous estimate of 18 million pounds [31] - Production from JV Inkai is expected to be 7.7 million pounds, down from the previous estimate of 8.3 million pounds due to sulfuric acid supply challenges [35] Business Line Performance - Uranium segment: Production at Key Lake Mill exceeded expectations, with automation and digitization projects contributing to improved performance [31] - Fuel services segment: Production was 60% higher than the third quarter of the previous year, driven by the commissioning of a new closed-loop water system at Port Hope [40] - Westinghouse investment: Adjusted EBITDA outlook remains positive, with a 6% to 10% growth rate expected over the next five years [55] Market Data and Key Metrics - Long-term uranium prices have reached their highest level in over a decade, but significant investments in new projects are still lacking [19] - Long-term contract volumes increased from 50 million pounds at the end of September to 90 million pounds by early November, driven by larger contracts signed in October [24] - The conversion segment of the fuel cycle remains tight, with prices at historic highs [24] Company Strategy and Industry Competition - The company is focused on optimizing Tier 1 assets and returning to a Tier 1 cost structure, with strong production performance and a solid financial position [5][28] - Cameco is well-positioned to leverage opportunities in the nuclear industry, with a strategy centered on full-cycle value and investments across the reactor life cycle [27] - The company is selective in committing uranium inventory and UF6 conversion capacity to maintain exposure to rising prices while protecting against downside risks [23] Management Commentary on Operating Environment and Future Outlook - Management highlighted the growing demand for nuclear power, driven by decarbonization, sustainability, energy security, and rising energy demand [17][18] - The U.S. ban on Russian uranium imports has created supply challenges, but the company is well-positioned to meet demand from responsible and reliable suppliers [20][27] - The company expects long-term contracting activity to gain momentum, with increased utility interest and off-market negotiations [22][23] Other Important Information - The company repaid $100 million of its floating rate term loan in Q3, bringing year-to-date repayments to $400 million, with plans to repay the remaining $200 million [46] - Cameco is finalizing an updated National Instrument 43-101 technical report for the Inkai mine, which will include updated reserves, production profiles, and cost information [37] - The company appointed David Doerksen as Senior Vice President and Chief Marketing Officer, and Lisa Aitken as Vice President Marketing [48] Q&A Session Summary Question: Long-term contracting and procurement behavior - Management noted that utilities are starting to shift their focus upstream in the fuel cycle, with uranium demand expected to increase as enrichment and conversion markets tighten [51][53] Question: Westinghouse's long-term EBITDA growth rate - The company maintains its 6% to 10% EBITDA growth rate for Westinghouse, with potential for upward adjustments as new projects reach final investment decisions [54][55] Question: Inkai production challenges and Tier 2 assets - Production at Inkai is impacted by sulfuric acid supply issues, but the company remains committed to the project. Tier 2 assets remain on care and maintenance, with potential for future reactivation [61][63] Question: Conversion market and Springfield restart - The conversion market remains tight, and the company is strategically patient in restarting the Springfield facility, waiting for stronger contracting cycles and pricing [66][71] Question: New nuclear builds and AP1000 role - The company sees significant opportunities for new nuclear builds, particularly with the AP1000 reactor, which is well-positioned to meet future energy demands [74][78] Question: Uranium pricing and cost inflation - Management emphasized the structural gap between uranium supply and demand, with higher prices needed to incentivize new production. Cost inflation is being managed through automation and digitization investments [89][102] Question: Westinghouse's Q4 performance - Westinghouse is expected to have a strong Q4 due to seasonality in its business, with higher margin work typically occurring during the fall outage season [105][107] Question: Long-term contracting and price negotiations - The company is disciplined in its contracting approach, with floor and ceiling prices for long-term contracts remaining at $70 and $130, respectively. Higher prices are expected as demand increases [119][125] Question: Uranium price seasonality - Uranium prices typically show seasonality, with stronger demand in the fall and winter months. The company expects higher prices to address the structural supply-demand gap [135][142]