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CCJ.N

ISIN: CA13321L1085
SEDOL: 2158684

Rating:

SELL

Target Price:

9.26 USD

Investment Horizon:

6 to 12 months
5th Jan 2009 View Report   Download

Company News Alert

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The Cameco Corporation (Cameco) common stock has appreciated sharply since our last update report, reflecting a rally in commodity prices. However, considering the global economic climate, we believe the upside potential for commodities is limited over our investment horizon. Therefore, we do not anticipate a change in our common stock rating. We will reassess our target price and rating in our next update report, once the company…

5th Dec 2008 View Report   Download

3Q 08 Update Report

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In 3Q 08, Cameco Corporation (Cameco) recorded a marginal increase in revenues due to higher sales volumes being largely offset by lower metal prices. However adjusted1 net income declined sharply due to higher depreciation and interest expenses. During FY 2009, we expect the prices of uranium and gold to further decline which is expected to have a significant…

12th Nov 2008 View Report   Download

3Q 08 News Alert

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Cameco Corporation (Cameco) announced its 3Q 08 results on 11 November 2008. Revenues increased slightly y-o-y, although adjusted1 net income fell significantly. Going forward, we expect higher sales volumes (and appreciation of the US dollar against the Canadian dollar) to support top-line growth. Although we remain concerned about delays at Cigar Lake and falling commodity prices, we note the recent fall in the common…

10th Sep 2008 View Report   Download

Company News Alert

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The Cameco Corporation (Cameco) common stock has depreciated significantly since our last update report, reflecting negative investor reaction to delays at the company’s Cigar Lake project. In line with this, we expect to lower our estimates and target price when we revalue the company in our next full update report. However, given the recent decline in the stock price, we continue to see upside potential, and maintain our BUY rating....

18th Aug 2008 View Report   Download

2Q 08 News Alert

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Cameco Corporation (Cameco) announced its 2Q 08 results on 14 August 2008. Revenues and profitability were below our estimates due to lower-than-expected sales volume and higher-thanexpected costs....