Canada’s Cameco (TSX:CCO) (NYSE:CCJ), the world's largest publicly traded uranium producer, swung back into the black in the first three months of the year on thanks to improved prices for and the company’s efforts to lower costs.
The Saskatchewan-based miner posted Friday net earnings of $55 million, or 14 cents per share, compared with a loss of $18 million, or 5 cents per share, in the first quarter of 2017.
Revenue climbed to $439 million from $393 million a year earlier
“We continue to focus on what we can control,” president and CEO, Tim Gitzel, said in the statement. He was referring to both, Cameco’s portfolio optimization and its planned cut in production to ease a current oversupply that keeps weighing on uranium prices.
Gitzel acknowledged the company’s average unit cost of sales was higher this quarter than a year ago, but said the situation was expected due to the care and maintenance costs incurred while McArthur River and Key Lake operations remain halted.
More to come…
The post World’s top uranium miner Cameco back in the black appeared first on MINING.com.
from MINING.com https://ift.tt/2r1DQSw
Aucun commentaire:
Enregistrer un commentaire