RBC Capital Markets says it would be a buyer of the company's shares on stock price weakness.
A media tour of the Cameco uranium mine in Cigar Lake is shown on Wednesday, September 23, 2015. THE CANADIAN PRESS/Liam Richards) shares fell as much as six per cent in early trading on Tuesday after the Canadian uranium producer swung to a loss in its latest quarter. The Saskatoon-based company blamed seasonal sales trends, as well as its recently acquired
“Financial results are in line with the 2024 outlook we provided, which has not changed, and are as expected, reflecting normal quarterly variability,” Cameco president and CEO Tim Gitzel stated in a news release.RBC Capital Markets analyst Andrew Wong says Cameco’s weaker headline numbers in the first quarter due to sales timing shouldn't worry investors. He maintains an “outperform” rating on the stock, with a $70 per share price target.
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Uranium Sales Analyst Forecasts Uranium Producer Andrew Wong
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