Cameco profit jumps in fourth quarter and year

G&M reports Cameco, world’s largest producer of uranium has its profit jump in the fourth quarter.

The significantly higher profit was primarily a result of the sale of the company’s stake in Centerra Gold Inc. (CG-T11.82––%) for $871-million, recording an after-tax gain of $374-million.

The sale marked the final stages of the uranium giant’s withdrawal from the gold business.

Cameco’s president and CEO Jerry Grandey says that operationally and financially the company is well positioned to meet its goal of doubling annual uranium production by 2018.

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