Cameco’s Q1 Profits Slump 93 Percent

Mining Weekly reported that Saskatchewan-based miner Cameco Corp. (TSX:CCO,NYSE:CCJ) suffered a 93-percent drop in first-quarter profits on rising operational costs and falling sales and prices.

As quoted in the Mining Weekly report:

Net earnings for the quarter ended March 31 was $9-million or $0.02 a share, compared with $129-million or $0.33 a share in the same period a year earlier. Adjusted earnings for the period was $27-million or $0.07 a share, compared with $121-million or $0.31 a share a year earlier.

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