Can't read the article as you need to sign up for seekingalpha
(aka, pump and dumpers). What does it say? i would
suggest that this is a buy signal in itself.
The article that came out in the "non-biased" media is that they
just won a 13 year court battle with the Canadian government over
unpaid taxes and money that was being with held - its a huge win,
not negative at all.
Posted by timebandit on 18th of Feb 2021 at 11:26 am
Ah, sorry. My oversight. Here's an excerpt...
Summary
The company posted a loss in 2020 and has committed sales
volumes of only between 23 million and 25 million pounds of uranium
for 2021.
With its main mines closed, Cameco can make a profit through
uranium market purchases only if spot prices keep under $40 per
pound.
Ironically, an increase in uranium prices would significantly
increase its losses.
The company's plan is to put McArthur River back into
production when uranium prices recover, but I doubt this can be
done.
I continue to think that Cameco shouldn't be worth more than
$800 million.
You just heard The Prayer for the Dead, my fellow stockholders,
and you didn't say, "Amen." This company is dead. I didn't kill it.
Don't blame me. It was dead when I got here. It's too late for
prayers. For even if the prayers were answered, and a miracle
occurred, and the yen did this, and the dollar did that, and the
infrastructure did the other thing, we would still be dead. -
Lawrence Garfield, Other People's Money (1991)
Introduction
Cameco (NYSE:
CCJ) is a uranium company that
currently produces no uranium and its story reminds me a lot of a
fictional company in the movie Other People's Money called New
England Wire & Cable Co.
Just like New England Wire & Cable, its best years are far
behind it, investors have been hoping for several years that a
change in the market will help it turn around its business, and the
share price is soaring.
Cameco recently
postedweak 2020 results and the outlook for 2021 is dim, yet
I've been told numerous times that I was wrong in my latest
bearish articleon SA because the share price keeps rising.
Well, a soaring share price doesn't fix the fundamentals of the
business and I continue to think Cameco is a sell.
Cameco's financial performance
In 2020, the company lost a total of C$53.2 million ($42
million). With the Cigar Lake mine
closing twicedue to COVID-19, output was just five million
pounds of uranium. With sales commitments of 30.6 million pounds,
it was nearly impossible for the company to finish the year in the
green. During 2020, Cameco incurred a total of C$196 million ($155
million) in care and maintenance costs, C$113 million ($89 million)
in direct administration costs and C$96 million ($76 million) in
finance costs.
timebandit, that is not why the stock was halted... it
was halted on the pending court decision. "Gold Panda"
however would be flattered that you think they halted the stock to
release his bogus analysis LOL! He compares it to New
England Wire & Cable.... too funny.
Thanks for the new link pep. Interesting how these 2
articles come out on the same day. Anyway, bookmark that
article to CCJ stock and come back to it next year and lets see if
Seeking Alpha was right. I read the article, and they are
missing out on a bunch of the facts for sure. But we shall
see.
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CCJ halted-- any news??
Posted by pep8261 on 18th of Feb 2021 at 09:42 am
CCJ halted-- any news??
https://seekingalpha.com/article/4406969-cameco-future-looks-grim
Posted by timebandit on 18th of Feb 2021 at 10:35 am
https://seekingalpha.com/article/4406969-cameco-future-looks-grim
Can't read the article as
Posted by hoek2 on 18th of Feb 2021 at 10:49 am
Can't read the article as you need to sign up for seekingalpha (aka, pump and dumpers). What does it say? i would suggest that this is a buy signal in itself.
The article that came out in the "non-biased" media is that they just won a 13 year court battle with the Canadian government over unpaid taxes and money that was being with held - its a huge win, not negative at all.
Ah, sorry. My oversight. Here's
Posted by timebandit on 18th of Feb 2021 at 11:26 am
Ah, sorry. My oversight. Here's an excerpt...
Summary
You just heard The Prayer for the Dead, my fellow stockholders, and you didn't say, "Amen." This company is dead. I didn't kill it. Don't blame me. It was dead when I got here. It's too late for prayers. For even if the prayers were answered, and a miracle occurred, and the yen did this, and the dollar did that, and the infrastructure did the other thing, we would still be dead. - Lawrence Garfield, Other People's Money (1991)
Introduction
Cameco (NYSE: CCJ) is a uranium company that currently produces no uranium and its story reminds me a lot of a fictional company in the movie Other People's Money called New England Wire & Cable Co.
Just like New England Wire & Cable, its best years are far behind it, investors have been hoping for several years that a change in the market will help it turn around its business, and the share price is soaring.
Cameco recently postedweak 2020 results and the outlook for 2021 is dim, yet I've been told numerous times that I was wrong in my latest bearish articleon SA because the share price keeps rising. Well, a soaring share price doesn't fix the fundamentals of the business and I continue to think Cameco is a sell.
Cameco's financial performance
In 2020, the company lost a total of C$53.2 million ($42 million). With the Cigar Lake mine closing twicedue to COVID-19, output was just five million pounds of uranium. With sales commitments of 30.6 million pounds, it was nearly impossible for the company to finish the year in the green. During 2020, Cameco incurred a total of C$196 million ($155 million) in care and maintenance costs, C$113 million ($89 million) in direct administration costs and C$96 million ($76 million) in finance costs.
timebandit, that is not why
Posted by hoek2 on 18th of Feb 2021 at 11:41 am
timebandit, that is not why the stock was halted... it was halted on the pending court decision. "Gold Panda" however would be flattered that you think they halted the stock to release his bogus analysis LOL! He compares it to New England Wire & Cable.... too funny.
seeking alpha article saying that
Posted by pep8261 on 18th of Feb 2021 at 10:52 am
seeking alpha article saying that CCJ losses would actually increase with increases in Uranium price. dont have time for a deep dive. Cameco’s Future Grim After Poor 2020 Results (NYSE:CCJ) | Seeking Alpha
Thanks for the new link
Posted by hoek2 on 18th of Feb 2021 at 11:21 am
Thanks for the new link pep. Interesting how these 2 articles come out on the same day. Anyway, bookmark that article to CCJ stock and come back to it next year and lets see if Seeking Alpha was right. I read the article, and they are missing out on a bunch of the facts for sure. But we shall see.