Cameco Corp. beats estimates, BMO raises target on improve balance sheet

Canadian Press DataFile |

SASKATOON — Cameco Corp. beat analyst expectations in its fourth quarter results as it continues to grapple with a challenging uranium market.

The company reported net earnings of $160 million for the quarter ending , compared with a loss of $62 million for the same quarter a year earlier.

Adjusted net earnings were $202 million, or 51 cents per share, compared with adjust earnings of $181 million or 46 cents per share for the same quarter in 2017.

The adjusted earnings were well ahead of analyst expectations of 23 cents per share for the quarter, according to Thomson Reuters Eikon.

The positive results helped prompt BMO to raise its target price on Monday for the company to $17.50 from $16.50.

BMO Capital Markets analyst Alexander Pearce says in a note that while cash flow will likely be lower in 2019, the company's balance sheet and a rising uranium price should help drive results.

Companies in this story: (TSX:CCO)

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments


Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     
BA

     
WMT

     
DIS

     
XOM

     

World Economic Forum at Davos 2019 - Ben Yablon Executive VP Salt Lending

Matt Bird sits down with Ben Yablon - Executive VP of Salt Lending - at the World Economic Forum in Davos January 2019

Emerging Growth

CMX Gold & Silver Corp.

CMX Gold & Silver Corp is an exploration stage company. The Company is engaged in the acquisition, exploration and development of silver and copper/gold properties in the USA.