CAMECO CORP. $21.57 - Toronto symbol CCO

CAMECO CORP. $21.57 (Toronto symbol CCO; TSINetwork Rating: Extra Risk) (306-956-6200; www.cameco.com; Shares outstanding: 395.8 million; Market cap: $8.5 billion; Dividend yield 1.9%) has decided to postpone developing its Millennium uranium deposit in central Saskatchewan. Cameco owns 69.9% of this property, and Japan’s JCU Exploration holds the other 31.1%.

Uranium prices have declined from around $42 U.S. a pound in February 2014 to $28 today. That’s because delays in restarting Japan’s nuclear reactors have caused uranium inventories to rise. However, prices should recover once the Japanese reactors begin operating.

Cameco is still a buy.

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