Uranium miner Cameco reports Q1 profit nearly triples, revenue up more than 70%
BNN Bloomberg
Cameco Corp. reported its first-quarter profit more than doubled compared with a year ago, while its revenue rose more than 70 per cent, helped by higher deliveries and higher average realized prices in both its uranium and fuel services businesses.
The uranium miner also raised its revenue outlook for the full year to between $2.22 billion and $2.37 billion compared with its earlier expectations for between $2.12 billion and $2.27 billion.
Cameco says its profit amounted to $119 million or 27 cents per diluted share for the quarter ended March 31, up from $40 million or 10 cents per diluted share a year ago.
Revenue totalled $687 million, up from $398 million in the first three months of 2022.
Oil above US$100 is adding pressure on equities as geopolitical risks and uncertainty over inflation and growth cloud the outlook.
Top Picks from Martin Cobb, Senior Vice-President, Equities, Lorne Steinberg Wealth Management
The chief executive of National Bank of Canada says he’s not changing the bank’s strategy because of the war in the Middle East, but he is urging a faster response from Canada to rising threats abroad.
With airstrikes still battering Iran and missiles still targeting sites across the Middle East, some of the optimism that sent stocks rallying the day before drained out of Wall Street on Tuesday. Oil prices got back to rising, and U.S. stocks are returning some of their gains.
A large explosion at an oil refinery near the Texas coast shot plumes of smoke into the air and forced nearby residents to shelter in place, officials said.
Oil prices rise and stocks fall as war with Iran still advances despite Trump’s talk of negotiations
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
Bank of Montreal said on Tuesday it plans to roll out tokenized cash capabilities in collaboration with CME Group and Google Cloud, as it seeks to meet rising demand for real‑time payments amid a global shift toward around‑the‑clock trading.
From rolled steel to kitchen cabinets, Canadian businesses hit by targeted U.S. tariffs are struggling to respond as the trade war drags into its second year.
Global benchmarks mostly rebounded Tuesday, in a mood of cautious relief after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war.
It’s that time of the year again, tax time, a time to file your annual return with the Canadian Revenue Agency.
Gold seen as overbought as Iran tensions ease, with falling oil prices lifting stocks and shifting investor sentiment toward risk assets.