Cameco (CCO) & Denison (DML): 2 TSX uranium stocks to look at

Be the First to Comment Read

Cameco (CCO) & Denison (DML): 2 TSX uranium stocks to look at

 Cameco (CCO) & Denison (DML): 2 TSX uranium stocks to look at
Image source: © 2022 Kalkine Media Inc

Highlights

  • Uranium, along with other commodities like wheat, nickel and gold, has seen its price running higher as the Russia-Ukraine continues to roil the world market with supply shocks. 
  • Consequently, Cameco Corp (TSX: CCO) saw its stock clock a day high of C$ 36.06 apiece on Thursday, March 10. 
  • While stocks of Denison Mines Corp (TSX: DML) rose as high as C$ 2.315 this day.

Uranium, along with other commodities like wheat, nickel and gold, has seen its price running higher as the Russia-Ukraine continues to roil the world market with supply shocks. 

Consequently, Cameco Corp (TSX: CCO) saw its stock clock a day high of C$ 36.06 apiece on Thursday, March 10. While stocks of Denison Mines Corp (TSX: DML) rose as high as C$ 2.315 this day.

On that note, here are two TSX uranium stocks to look at amid the uranium rally.

Cameco Corp (TSX: CCO)

Cameco reported Q4 revenue of C$ 465 million in 2021, down from C$ 550 million a year ago. The uranium producer reported a net profit of C$ 11 million in the latest quarter, significantly down from C$ 109 million in Q4 2020.

The Saskatoon, Saskatchewan-based firm yearly profit amounted to C$ 2 million in 2021 compared to C$ 106 million in 2020.

Cameco (TSX: CCO) Q4 FY2021 results

Stocks of Cameco Corp rose by about 73 per cent in the past 12 months. CCO stock closed at C$ 35.13 apiece on Thursday, up by over 1 per cent. Its stock noted a trading volume of 3 million shares this day.

Also read: Verde (NPK) & Nutrien (NTR): 2 TSX agriculture stocks to watch

Denison Mines Corp (TSX: DML)

Denison Mines reported C$ 3.34 million in total revenue in the fourth quarter of fiscal 2021, slightly down from C$ 4.09 million in the same period a year ago.

The Toronto-based uranium explorer posted C$ 2.65 million in a net loss in the latest quarter compared to C$ 3.1 million in Q4 2020.

DML stock surged by almost 80 per cent year-over-year (YoY). The uranium stock closed at C$ 2.23 apiece on Thursday, with a trading volume of 6.5 million shares.

Also read: TC Energy (TRP) & Enbridge (ENB): 2 TSX energy stocks to closely watch

Bottomline

Some market experts believe that nuclear power may become more important in the global energy sector with rising oil prices, thereby positively influencing uranium companies.

Disclaimer

Speak your Mind

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK