Cameco's $223 Million Trading Day Leads to Top Spot in Market Volume

On May 1, 2025, Cameco (CCJ) saw a significant surge in trading volume, with a turnover of $223 million, marking a 41.58% increase from the previous day. The stock price rose by 0.80%, reflecting strong investor interest and market confidence.

Cameco's first quarter financial performance was robust, with net earnings and adjusted net earnings reaching $70 million. The company's adjusted EBITDA stood at $353 million, indicating strong operational and financial health. The uranium segment, a core part of Cameco's business, saw a 10% decrease in net earnings and a 6% drop in adjusted EBITDA compared to the same period last year. This was primarily due to lower results from the JV Inkai project, which faced production suspensions and delays. However, the average realized price for uranium showed improvements, benefiting from long-term contracting strategies and a stronger US dollar.

In the fuel services segment, both net earnings and adjusted EBITDA increased by over 100% compared to the previous year. This growth was driven by higher sales volumes, a 17% increase in average realized prices, and a 22% decrease in cost of sales. The Westinghouse segment reported a net loss of $62 million, but this was a significant improvement from the $123 million loss in the same period last year. The segment's adjusted EBITDA increased to $92 million, reflecting ongoing efforts to optimize operations and reduce costs.

Cameco's disciplined long-term contracting strategy continued to pay off, with commitments requiring the delivery of an average of about 28 million pounds of uranium per year from 2025 through 2029. The company's strong balance sheet, with $361 million in cash and cash equivalents and $1.0 billion in total debt, provided a solid foundation for future growth and investment. Cameco also received a $49 million distribution from Westinghouse and an $87 million dividend from JV Inkai, further strengthening its financial position.