Q2 2024 Earnings Summary
Reported on Jan 4, 2025 (Before Market Open)
Pre-Earnings Price$44.28Last close (Jul 30, 2024)
Post-Earnings Price$45.00Open (Jul 31, 2024)
Price Change
$0.72(+1.63%)
- Strong global demand for nuclear energy, with unprecedented interest from utilities, governments, and policymakers, leading to outstanding supply-demand fundamentals and an expected need for 2 to 2.2 billion pounds of uranium between now and 2040, averaging 150-160 million pounds per year and growing.
- Cameco is in an extremely strong market position, benefiting from increasing off-market demand due to its licensed and permitted existing production and brownfield leverage opportunities, and is poised to outperform rising term price markers, with reports of $70-plus escalated floors and $135 escalated ceilings.
- Investments in digitization, automation, and robotics at the McArthur River and Key Lake operations are paying dividends, resulting in exceptional production performance that exceeds expectations, potentially allowing for increased production without significant additional spending.