Cameco Corporation (USA) (NYSE:CCJ) announced today that production at its McArthur River, Key Lake, Cigar Lake and Rabbit Lake uranium operations in the Athabasca Basin has not been interrupted by forest fires in northern Saskatchewan.
Cameco has implemented additional measures to protect the health and safety of people and the environment at its facilities and is assisting northern communities in fighting the fires and supporting evacuees. None of Cameco’s operations are directly threatened by the fires which are concentrated in north central Saskatchewan.
Road closures and flight restrictions at northern airstrips are creating logistical challenges to keep the operations supplied with essential materials and staffed. About half of the workforce at Cameco’s Saskatchewan operations are residents of northern Saskatchewan and evacuations of workers and their families are creating additional challenges.
In order to keep non-essential traffic off the two hard-surface roads that connect its operations with southern Saskatchewan, Cameco voluntarily suspended shipments of packaged uranium from its milling facilities. The roads have been periodically closed due to poor visibility related to smoke and proximity to fire. Product is being safely stored and will be shipped once the fire situation improves.
Cameco expects to meet its 2015 production target of 25.3 to 26.3 million pounds and its 2015 sales target of 31 to 33 million pounds. (Original Source)
Shares of Cameco closed yesterday at $13.42, down $0.10 or 0.74%. CCJ has a 1-year high of $21.67 and a 1-year low of $13.32. The stock’s 50-day moving average is $14.86 and its 200-day moving average is $15.25.
On the ratings front, Cameco has been the subject of a number of recent research reports. In a report issued on April 30, Raymond James analyst David Sadowski upgraded CCJ to Buy. Separately, on April 29, Canaccord Genuity’s Gary Lampard maintained a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Sadowski and Gary Lampard have a total average return of -18.4% and -5.3% respectively. Sadowski has a success rate of 0.0% and is ranked #3484 out of 3694 analysts, while Lampard has a success rate of 46.7% and is ranked #3136.
Cameco Corp is engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries.