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Cameco Corp Stock Overview

In this article we will explore Cameco Corporation, which is a significant player in the nuclear energy industry. Cameco provides essential ingredients for safe, emissions-free nuclear power, solidifying their position as a key figure in the uranium market. We'll analyze Cameco Corp Stock it recent financial performance, stock price fluctuations, and the impact of uranium prices.

Cameco Corp Stock Overview
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  • Cameco had a strong financial performance in 2023, with significant revenue and profit growth.
  • The uranium market experienced a rise in demand due to geopolitical uncertainty and production shortfalls, leading to rising uranium prices.
  • Cameco's stock price has fluctuated over the past year, but experienced an impressive increase in 2023.
  • The company pays dividends to shareholders, with a current yield of approximately 0.22%.

About the Cameco Corp Stock

Cameco Corporation is a significant player in the nuclear energy industry. This is why:

Clean Energy Leader: Cameco Corporation

Cameco is a global giant in the nuclear fuel industry, driving the development of clean and reliable energy solutions. Their mission is to energize a clean-air world.

Fueling the Future

Cameco supplies utilities worldwide with the essential ingredients for safe, emissions-free nuclear power. Their extensive mining and milling operations boast a massive production capacity, solidifying their position as a key player in the uranium market. They're also actively exploring promising new uranium projects to meet future demands.

Beyond Mining

Cameco doesn't stop at mining. They're a major supplier of refining, conversion, and fuel manufacturing services across the entire nuclear fuel cycle. Their expertise extends to producing reactor fuel bundles and components, ensuring a reliable supply chain.

Strategic Partnerships

Cameco expands its reach through ownership interests in industry leaders like Westinghouse and Global Laser Enrichment, further solidifying their role in shaping the future of nuclear energy.

Cameco Corp Stock Ticker Symbols

  • TSX: CCO

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Brookfield Cameco Corp Stock Price

Let’s explore Cameco Corporation’s recent financial performance and the impact of uranium prices, also you can check Cameco Corp Stock Price here.

Financial Performance (2023)

In 2023, Cameco reported robust financial results.
Here are the highlights:

  • Revenue: Cameco’s revenue surged to $2.59 billion, a significant increase from the previous year’s $1.87 billion.
  • Gross Profit: The company achieved a gross profit of $562 million, compared to $233 million in 2022.
  • Net Earnings: Cameco’s net earnings attributable to equity holders soared to $361 million, a substantial improvement over the $89 million in 2022.
  • Adjusted EBITDA: Cameco’s adjusted EBITDA increased by 93%, reflecting strong operational performance.

Uranium Price Impact

The uranium market experienced notable shifts:

  • Rising Demand: Heightened geopolitical uncertainty and global production shortfalls underscored the growing security of supply risk. Despite this, the demand outlook for nuclear power remains robust, with 28 countries supporting capacity tripling to achieve global net-zero greenhouse gas emissions by 2050.
  • Contracting Activity: Utilities responded by placing approximately 160 million pounds of uranium under long-term contracts in 2023.

Price Trends:

  • Spot Enrichment Prices: These prices increased by 38%.
  • Conversion Prices: Conversion prices reached record highs.
  • Uranium Spot Prices: These more than doubled, rising from around $48 per pound at the end of 2022 to $100 per pound at the end of January 2024.
  • Long-Term Price: The long-term price for uranium stood at $72 per pound, representing a 38% increase over the same period.

Cameco’s strategic positioning, disciplined financial management, and focus on sustainable growth make it a key player in the nuclear energy sector.

Cameco Corp Stock Trading

Over the past year, Cameco’s stock price has experienced fluctuations. The highest stock price reached in the last 52 weeks was $51.33. The lowest stock price during the same period was $23.69. The average stock price over the last 52 weeks stands at $35.8.

Stock Performance

  • Year 2023: Cameco’s stock had an impressive run, with a 90.50% increase in value. It started the year at around $22.89 and closed at $43.10.
  • Year 2024 (YTD): So far in 2024, the stock has experienced a slight decline of approximately 5.17%.

Dividend History and Stock Splits

  • Dividends: Cameco pays dividends to its shareholders. The current dividend yield is approximately 0.22%.
  • Stock Splits: There is no mention of recent stock splits in the search results.

Upcoming Events: Keep an eye out for earnings reports, which provide insights into the company’s financial health and performance. The next earnings report is scheduled for April 30, 2024.

Remember that stock prices can be influenced by various factors, including market sentiment, industry trends, and global events. Also if you are going to trade Cameco corp stock, you will need this - Canadian stock market hours and of course, if you still don’t have a trading platform, then download MetaTrader 5 - time-tested.

Bottom Line on Cameco Corp Stock

Cameco Corp, a giant in the nuclear energy industry, fuels the world with clean and reliable power. They're a top supplier of uranium, the key ingredient for safe, emissions-free nuclear energy. In 2023, Cameco saw impressive financial growth, with revenue reaching $2.59 billion and net earnings soaring to $361 million. Their stock mirrored this success, jumping 90.50% in value.

Here's a quick snapshot of what we’ve learned:

  • Leader in Clean Energy: Provides nuclear fuel products and services across the entire fuel cycle.
  • Strong Financials: 2023 saw significant revenue and earnings growth.
  • Stock Performance: Experienced impressive growth in 2023, but keep an eye on market trends.
  • Dividend Payer: Offers a dividend to shareholders.
  • Upcoming Earnings Report: Scheduled for April 30, 2024, providing insights into their future.

Remember, keeping an eye on uranium prices and global demand for nuclear power is crucial.

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Marisha Movsesyan
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