Uranium Market Remains Challenged as Recovery Stalls in 1Q; Cameco Remains Undervalued
We observe no major surprises in Cameco’s first quarter, as performance reflected continued market weakness. Year over year, revenue has fallen more than 30% to $298 million and gross profit more than 75% to $17 million. The bulk of the decline is due to a 25% decrease in realized prices.Despite results being weak versus the prior-year period, profits were consistent with management’s expectations. As a result, guidance was largely unchanged. Having updated our valuation model, we maintain our ...
Cameco and its subsidiaries are engaged in the exploration for and the development, mining, refining, conversion and fabrication of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. Co. has three reportable segments: uranium, which explores for, mines, mills, purchases, and sells uranium concentrate; fuel services, which refines, converts and fabricates uranium concentrate, and purchases and sells conversion services; and electricity, which generates and sells electricity through its 31.6% interest in the Bruce Power Limited Partnership, which operates four nuclear reactors and manages the overall site in southern Ontario.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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