- Write by:
-
Friday, July 29, 2022 - 14:05:31
-
371 Visit
-
Print
Mining News Pro - Shares in Canada’s uranium major, Cameco, gained nearly 10% on Wednesday after the company reported higher core profit than expected amid an uptick in uranium prices.
The Saskatoon, Saskatchewan-based company said headline profit per share more than doubled to 18¢, compared with analyst forecasts calling for a loss of 1¢.
Revenue for the three months ended June increased 55% year-on-year to $558 million. Cameco said uranium revenues this quarter were up 75% compared to 2021 due to an increase of 41% in the Canadian dollar average realized price and a 25% increase in sales volume due to the timing of sales. While the average US dollar spot price for uranium increased by 63% compared to the same period in 2021, the US dollar average realized price only increased by 38%
due to the impact of fixed price contracts.
“We are benefiting from higher average realized prices in both our uranium sales and our fuel services sales as the market continues to transition and geopolitics continue to highlight concentration of supply concerns,” said Tim Gitzel, Cameco’s president and CEO on an analyst call on Wednesday.
Short Link:
https://www.miningnews.ir/En/News/621849
Copper futures in New York rallied to a record high after a short squeeze that’s prompted a scramble to divert metal in ...
Teck Resources Ltd expects to generate annual earnings before interest, depreciation, tax and amortization (EBITDA) of ...
Australian-based Atlantic Lithium Ltd., which is developing Ghana’s first lithium mine, has taken a step toward raising ...
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports ...
Nutrien, the world’s biggest fertilizer producer, beat first-quarter profit estimates on Wednesday, on strong demand for ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
Barrick Gold Corp.’s chief executive officer says the gold miner will continue to host virtual-only annual general ...
The Senate voted Tuesday evening to approve legislation banning the import of enriched uranium from Russia, sending the ...
No comments have been posted yet ...