Latest news with #CamecoCorp
Yahoo
23-05-2025
- Business
- Yahoo
URA, Uranium ETFs Surge as Trump Orders Nuclear Reforms
Nuclear energy and uranium ETFs leaped Friday, charged by expectations that President Donald Trump is poised to remove barriers to the industry's expansion. The biggest U.S. uranium exchange-traded fund, the $2.9 billion Global X Uranium ETF (URA) soared more than 12% Friday afternoon, adding to the past month's 26% gain. The No. 2 fund, the $1.4 billion Sprott Uranium Miners ETF (URNM) also gained more than 12%. The top holding in both funds is Canadian miner Cameco Corp. (CCJ), which rose 14%. Trump signed an executive order today making approvals for new reactors easier, opening federal lands to nuclear power plant construction and providing for more robust uranium supply lines. Artificial intelligence computing has created massive new demands for electricity, and Trump in his first day in office declared an energy emergency. 'Trump's embrace of nuclear energy is a tide that lifts the entire nuclear industry, adding a premium to nuclear stocks and increasing demand for uranium,' said Research Lead Kent Thune, CFP. The performance of Uranium and nuclear ETFs has been mixed over the past year, with uranium miners hit particularly hard. URNM has dropped 35%, while the $229.4 million Sprott Junior Uranium Miners ETF (URNJ) has lost 45%. That's, in part, due to a 49% drop in uranium prices since January 2024, according to data on Cameco's website. The world's top producer is Kazakhstan, a close ally of Russia, which has been hit by global sanctions over the war with Ukraine. Canada is the world's No. 2 supplier and has been threatened with sanctions by the Trump administration. Other nuclear and uranium ETFs jumping today include the VanEck Uranium+Nuclear Energy ETF (NLR), which moved 11% higher, and the Range Nuclear Renaissance Index ETF (NUKZ), which added 7%. NUKZ is the outlier with its 39% gain over the past & Uranium ETF Flows—Source: Only eight ETFs are listed on as nuclear/uranium-focused | © Copyright 2025 All rights reserved
Hamilton Spectator
01-05-2025
- Business
- Hamilton Spectator
Uranium miner Cameco reports $70M Q1 profit as revenue up from year ago
SASKATOON - Cameco Corp. reported a first-quarter profit as its revenue rose compared with a year ago, citing strong production of uranium and fuel services. The company says it earned a profit attributable to equity holders of $70 million or 16 cents per diluted share for the quarter ended March 31, compared with a loss of $7 million or two cents per diluted share a year earlier. On an adjusted basis, Cameco says it earned 16 cents per diluted share in its latest quarter, up from an adjusted profit of 11 cents per diluted share a year earlier. Revenue for the quarter totalled $789 million, up from $634 million a year earlier. Uranium production totalled 6.0 million pounds for the quarter, up from 5.8 million a year earlier, while sales volumes amounted to 6.9 million pounds, down from 7.3 million pounds. Cameco's average realized price for uranium was $89.12 per pound, up from $77.33 a year earlier. Cameco's fuel services business saw production of 3.9 million kilograms, up from 3.7 million a year earlier, while fuel services sales volumes totalled 2.4 million kilograms, up from 1.5 million kilograms. Fuel services reported an average realized price of $56.64 per kilogram, up from $48.36 in the first quarter of 2024. This report by The Canadian Press was first published May 1, 2025. Companies in this story: (TSX:CCO)
Yahoo
01-05-2025
- Business
- Yahoo
Is Cameco Corp. (NYSE:CCJ) a Small-Cap Energy Stock Hedge Funds Are Buying?
We recently published a list of the 15 Small-Cap Energy Stocks Hedge Funds Are Buying. In this article, we are going to take a look at where Cameco Corp. (NYSE:CCJ) stands against other small-cap energy stocks. On April 12, Bill Perkins, Skylar Capital Management CEO, appeared on 'Closing Bell Overtime' on CNBC to talk about how the energy sector is struggling due to fears of decreased fuel demand. Perkins discussed that the trade policy majorly drives the sentiment across the energy landscape and hence affects natural gas, energy stocks, bonds, and other related assets. Noting the difficulty in predicting the long-term outcome of these policies, he questioned whether the tariffs are temporary. The conversation then shifted to the impact of recent tariff announcements. Perkins acknowledged that natural gas prices initially performed better than other commodities following the announcements, which gives rise to speculations that LNG could become a key bargaining chip in future trade negotiations. He explained that, at the time, natural gas fundamentals were strong, and the US had the potential to use LNG exports as a diplomatic tool to help reduce trade deficits with other countries. However, Perkins acknowledged that the overarching macroeconomic fear of a global slowdown soon overshadowed these fundamentals, which affected both the crude oil and natural gas markets. As a result, prices dropped to levels that might stimulate some demand and offer a buffer against further declines, particularly if the tariff conflict drags on and risks pushing the economy into a recession or even a depression. Perkins also addressed the effect of price pressure on production, specifically referencing West Texas Intermediate (WTI) crude oil. He pointed out that WTI prices had reached a threshold (~$60 per barrel) where growth in the Permian Basin would likely halt or even decline. At these price levels, producers become reluctant to invest in new drilling, especially given the backwardated crude curve, which showed future prices at $58 to $59 per barrel. This scenario would not only limit oil production growth in the Permian but also reduce the output of associated natural gas from the region. Perkins described this production restraint as a bullish factor that could help offset some of the prevailing uncertainty. Perkins predicted that oil and gas executives would adopt a cautious tone in their commentary. He explained that, due to the unpredictability of the global macro environment, executives would likely let market signals guide their decisions about ramping up or scaling back drilling programs. We first sifted through the Finviz stock screener and Insider Monkey's Q4 2024 hedge funds database. For this article, we define small-cap stocks as those that trade between $10 billion and $30 billion. We then selected the top 15 stocks according to hedge funds and ranked them in ascending order of the number of hedge funds that have stakes in them. In cases where an equal number of hedge funds held two or more stocks, we used the market cap as a tiebreaker. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A close up of the reactor core, highlighting the complexity of the uranium power process. Market Capitalization as of April 25: $19.15 billion Number of Hedge Fund Holders: 65 Cameco Corp. (NYSE:CCJ) provides uranium for the generation of electricity. The company's Uranium segment explores, mines, purchases, and sells uranium concentrate. The Fuel Services segment refines, converts, and fabricates uranium concentrate. The Westinghouse segment operates as a nuclear reactor technology OEM and provides products/services to commercial utilities and government agencies. On March 12, Stifel Canada started coverage of Cameco with a Buy rating and a price target of C$90. Stifel is positive on the company due to the rising uranium prices and Cameco's solid financial performance. Cameco's revenue increased by over 33% year-over-year to $834.83 million, which exceeded estimates by $68.38 million. The full-year 2024 revenue also shot up 21% due to higher prices. The company's average realized price rose 17% to $58.34 per pound while its sales volumes grew 5%. Cameco Corp. (NYSE:CCJ) delivered 33.6 million pounds of uranium at $79.70 per pound last year and expects 36 million pounds in total in 2025. The fuel services segment delivered 12.1 million kgU at an average price of $37.87 per kgU. The company's long-term contracts stood at ~220 million pounds at the end of 2024, and it already has a large pipeline under discussion. International Equity Strategy highlighted the company's strong performance and stated the following regarding Cameco Corporation (NYSE:CCJ) in its Q4 2024 investor letter: 'Cameco Corporation (NYSE:CCJ), one of the world's largest uranium producers, was a major contributor during the period. With the continued focus on artificial intelligence and clean energy, the demand for nuclear energy remained robust. Some of the largest companies in the world, such as Amazon, Google and Meta, announced nuclear power agreements in the quarter. Given Cameco's tier-one assets in reliable jurisdictions, proven operating experience and strong reputation, we believe the company is in a unique position to benefit as various industries and governments pursue clean, reliable and scalable sources of energy. Correspondingly, Cameco increased its production outlook, having already secured commitments that net an average of 29 million pounds per year over the next four years. We believe Cameco's continued ability to efficiently increase production while securing long-term contracts will lead to sustainably higher levels of normalized FREE cash flow. While its Canada-based mines and Westinghouse unit are executing well, production was recently suspended at Cameco's Inkai joint venture in Kazakhstan. We believe production will restart soon and note that Cameco's share of Inkai's production amounts to less than 10% of total Cameco volumes, a figure that can be offset with increased production at the company's MacArthur River and Key Lake mines in Canada.' Overall, CCJ ranks 3rd on our list of the small-cap energy stocks hedge funds are buying. While we acknowledge the growth potential of CCJ, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than CCJ but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. 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South China Morning Post
08-02-2025
- Business
- South China Morning Post
Why Trump is eyeing Canada's wealth of critical minerals
When Canada's Prime Minister Justin Trudeau told a group of executives that US President Donald Trump wasn't kidding about annexing Canada , he offered one reason: critical minerals. Canada is rich in nearly three dozen critical minerals essential to modern technology and produces more than 60 minerals and metals including nickel, potash, aluminium and uranium. The deposits are strewn across the country, which has a land mass about as big as all of Europe and second only to Russia. Ontario, Canada's most populous province, is rich in nickel, chromite and copper. Quebec has lithium, rare earth metals and graphite. British Columbia has copper, molybdenum and niobium. The prairie provinces – Saskatchewan and Manitoba – have ultra high-grade uranium and potash. Much of this material ends up in the US, which was the biggest buyer of Canada's critical minerals in 2023. Since his election in November, Trump repeatedly has said Canada could avoid tariffs by becoming the 51st state. His move to lower his initial tariffs threats on raw materials in January – calling for 10 per cent on imports instead of 25 per cent, like most other Canadian goods – was a nod to the country's reliance on its northern neighbour's resources. About a quarter of US uranium needs are fulfilled by gigantic mines in Saskatchewan, owned by companies like Cameco Corp. More than 80 per cent of US potash comes from Canada, including from Nutrien Ltd. And about 70 per cent of US aluminium is supplied by plants in Quebec and British Columbia.
Yahoo
08-02-2025
- Business
- Yahoo
Why Trump Wants Canada's Wealth of Critical Minerals
(Bloomberg) -- When Canada's Prime Minister Justin Trudeau told a group of executives that President Donald Trump wasn't kidding about annexing Canada, he offered one reason: critical minerals. Nice Airport, If You Can Get to It: No Subway, No Highway, No Bridge Citadel to Leave Namesake Chicago Tower as Employees Relocate Sin puente y sin metro: el nuevo aeropuerto de Lima es una debacle NYC Sees Pedestrian Traffic Increase in Congestion-Pricing Zone How London's Taxi Drivers Navigate the City Without GPS Canada is rich in nearly three dozen critical minerals essential to modern technology and produces more than 60 minerals and metals including nickel, potash, aluminum and uranium. The deposits are strewn across the country, which has a land mass about as big as all of Europe and second only to Russia. Ontario, Canada's most populous province, is rich in nickel, chromite and copper. Quebec has lithium, rare earth metals and graphite. British Columbia has copper, molybdenum and niobium. The prairie provinces — Saskatchewan and Manitoba — have ultra high-grade uranium and potash. Much of this material ends up in the US, which was the biggest buyer of Canada's critical minerals in 2023. Since his election in November, Trump repeatedly has said Canada could avoid tariffs by becoming the 51st state. His move to lower his initial tariffs threats on raw materials in January — calling for 10% on imports instead of 25%, like most other Canadian goods — was a nod to the country's reliance on its northern neighbor's resources. About a quarter of US uranium needs are fulfilled by gigantic mines in Saskatchewan, owned by companies like Cameco Corp. More than 80% of US potash comes from Canada, including from Nutrien Ltd. And about 70% of US aluminum is supplied by plants in Quebec and British Columbia. The US also relies on Canada for its military needs. Nickel from northern Ontario is shipped to the US for weapons manufacturing, along with zinc and germanium from Teck Resources Ltd.'s smelter in British Columbia. Canada has long championed itself as the world's hub for mineral explorers and developers. It's home to nearly half of all publicly traded mining companies, along with schools, trade programs and professional associations dedicated to geological studies, mechanical engineering and mine construction. But despite Canada's mineral abundance, resource extraction is slowed by lengthy permitting times and countless regulatory hurdles. It can take five to 25 years to develop a mine in the country. And a lack of infrastructure in remote yet resource-rich regions means some deposits could take decades to develop. Canada's Ring of Fire — a vast, mineral-rich region in northern Ontario replete with nickel, copper and chromite — was discovered decades ago but has no clear timeline for development. The sluggish pace has drawn criticism from business leaders and mining executives, who say Canada's approach has slowed efforts to build a North American supply chain of the materials needed for electric vehicles, wind turbines, solar panels and military weaponry. Meanwhile, China maintains a tight grip on key metals around the world, with ownership of major mines in Africa, Asia and South America. It also controls the bulk of global smelting and refining capacity, meaning that even Canadian metals producers will typically sell their material into China for processing. Business Schools Confront Trump Immigration Policies Orange Juice Makers Are Desperate for a Comeback Believing in Aliens Derailed This Internet Pioneer's Career. Now He's Facing Prison The Reason Why This Super Bowl Has So Many Conspiracy Theories Inside Elon Musk's Attack on the US Government ©2025 Bloomberg L.P.
