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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (24819)	1/20/2017 7:54:46 AM
From: Goose94	Read Replies (1) of 202988

Cameco (CCO-T) CFO Grant Isaac is more optimistic about long-term demand for uranium than he has been for five years. Cameco's stock fell $2.93 to close Wednesday at $14.39 following an unusual warning it was too bullish on its 2016 performance. Cameco took an extraordinary step Tuesday by issuing an announcement that analysts' estimates for the company's full-year results were too high. It said it expected to report a 2016 loss Feb. 9. Mr. Isaac says he felt compelled to "correct what we felt was a misalignment in earnings expectations," noting that restructuring costs from shuttered operations and legal costs associated with a tax dispute will weigh on its 2016 balance sheet. He says: "We were not going to sit with the investment community and discuss our positive forward outlook on the uranium market, remain silent on the misaligned earnings expectations and then fly back to Saskatoon and put out an earnings announcement that didn't meet the Street." Cameco's shares have risen about 50 per cent in the past three months as analysts foresaw the supply-demand economics tip into better balance.

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