Cameco Climbs After Earnings Surpass Analysts' Expectations, Dividend Increase

(RTTNews) - Shares of uranium company Cameco Corporation (CCJ) are rising more than 12% Wednesday morning after reporting better-than-expected fourth-quarter earnings. The company also announced 50% increase to its 2022 dividend.

Fourth quarter net earnings were $11 million or $0.03 per share compared with $80 million or $0.20 per share in the same quarter a year ago.

Excluding one-time items, earnings were $0.06 per share, that beat the average estimate of analysts polled by Thomson Reuters at $0.03 per share.

Revenue for the quarter declined to $465 million from $550 million a year ago.

For 2022, the company has increased its annual dividend to $0.12 per share, to be payable on December 15, 2022 to shareholders of record on November 30, 2022.

CCJ, currently at $22.28, has been trading in the range of $14.50-$28.49 in the last 52 weeks.