Cameco’s outlook brightens

Article Excerpt

CAMECO CORP. $19.24 (Toronto symbol CCO; TSINetwork Rating: Extra Risk) (306- 956-6200; www.cameco.com; Shares outstanding: 395.8 million; Market cap: $7.8 billion; Dividend yield 2.1%) reports that its per-share profits doubled in the three months ended March 31, 2015, to $0.18 from $0.09 a year earlier. Revenue rose 35.0%, to $565.8 million from $419.2 million. Uranium sales volumes rose 1.4%, while prices in Canadian dollars gained 4.3%. Uranium’s outlook is improving: China is building 23 nuclear reactors and Japan plans to restart some of its facilities after the 2011 tsunami damaged the Fukushima nuclear plant. As a result, the company now plans to spend $405 million on upgrades and expansions in 2015, up from its earlier estimate of $370 million. Cameco is still a hold. hold…