Why Cameco Stock Popped After Lousy Earnings
Cameco (NYSE: CCJ) stock jumped 4% through 11:50 a.m. ET Thursday despite reporting mixed earnings this morning.
Heading into the Q3 report, analysts forecast the uranium mining stock would report $535.8 million in quarterly sales -- a number Cameco beat with a stick, reporting sales of $721 million. That's the good news.
The bad news is Cameco was supposed to be very profitable on those sales, earning $0.18 per share. Instead, on an adjusted basis, Cameco lost $0.01 per share. On the plus side, Cameco's generally accepted accounting principles (GAAP) profit was $0.02 per share -- but earnings still declined 94%.
Source Fool.com
Cameco Corp. Stock
€83.90
0.840%
The stock is an absolute favorite of our community with 25 Buy predictions and no Sell predictions.
With a target price of 117 € there is a positive potential of 39.45% for Cameco Corp. compared to the current price of 83.9 €.
