Shares of Cameco Corp. (TSX: CCO) fell more than 10% in early Wednesday trading after the Saskatoon-based uranium producer warned Tuesday that analyst estimates are too high and it expects to report a loss for 2016.
It’s no secret that the uranium industry has seen tough times this year. In fact, it’s having its worst start to the year in over a decade, with uranium prices currently sitting at $25.25 a pound as of August 29.
Cameco's (TSE:CCO) second quarter financial results, posted on Thursday, show the company was hit hard by the suspension of its mine in Rabbit Lake, Sask. in April.
