Cameco Corp (CCJ · NYSE)

Cameco's latest quarter showed a steep deterioration, with June-quarter EPS of $0.13 missing estimates by 50% and earnings down 92.1% year over year on revenue that fell 7.2% to $814.1M. Free cash flow was nearly flat at $3.1M as operating cash flow of $109.6M was almost fully consumed by capex of $106.5M, though the balance sheet remains solid with $1.11B in cash against $1.01B of debt. The stock trades at a P/E of 149.25 and EV/EBITDA of 65.59, and at $88.06 sits 34.3% below its 52-week high with negative momentum versus its 20-, 50-, and 200-day moving averages. Offsetting the weakness, Westinghouse—partly owned by Cameco—has begun procurement for Poland's first of three planned AP1000 reactors, and Canada-India civil nuclear cooperation talks could support uranium demand.