Uranium miner Cameco reports $72M Q3 loss, revenue down from year ago

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SASKATOON — Cameco Corp. reported a $72-million loss in its latest quarter compared with a loss of $61 million in the same quarter last year as its revenue fell five per cent.

The uranium miner says the loss amounted to 18 cents per diluted share for the quarter ended Sept. 30 compared with a loss of 15 cents per diluted share a year earlier.

Revenue totalled $361 million, down from $379 million in the same quarter last year.

On an adjusted basis, Cameco says it lost 14 cents per diluted share for the quarter compared with an adjusted loss of 20 cents per diluted share a year ago.

Analysts on average had expected an adjusted loss of four cents per share and $398.9 million in revenue, according to financial markets data firm Refinitiv.

Cameco shares closed down $1.38 or 4.4 per cent to $30.07 in Friday trading on the Toronto Stock Exchange.

This report by The Canadian Press was first published Oct. 29, 2021.

Companies in this story: (TSX:CCO)

The Canadian Press

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