{"id":516492,"date":"2010-04-05T11:46:00","date_gmt":"2010-04-05T15:46:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:418935"},"modified":"2010-04-05T11:46:00","modified_gmt":"2010-04-05T15:46:00","slug":"cameco-downgraded-to-sell","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/516492","title":{"rendered":"Cameco downgraded to sell"},"content":{"rendered":"<p>The ongoing saga at Cigar Lake continues to haunt <a href=\"http:\/\/www.financialpost.com\/markets\/company\/index.html?symbol=CCO&amp;id=97138\" >Cameco Inc.<\/a> investors.<\/p>\n<p>Late Thursday, the uranium miner released its long-awaited technical report on the Northern Saskatchewan project, revealing higher costs and a slower-than-expected ramp-up of production.<\/p>\n<p>&quot;While the company had recently disclosed a revised capital cost estimate of around $1.0 billion and a revised start-up timeline of 2013, the technical report disclosed higher than forecast life of mine cash operating costs of $23\/lb (up from $14\/lb) and a relatively slow production ramp up timeline (with full capacity not expected until 2017),&quot; Orest Wowkowdaw, Canaccord Adams analyst, said. <\/p>\n<p>Mr. Wowkodaw lowered his net present value for Cameco by 9.1% that resulted in a downgrade of the stock to Sell from Hold. His new price target is $25, down from $28 previously.&nbsp;<\/p>\n<p>&quot;While we remain bullish on the medium- to long-term fundamentals for uranium, we see limited upside in Cameco shares in the near-term,&quot; he said. <\/p>\n<p>UBS analyst Brian MacArthur maintained his Buy rating but reduced his price target to $34 from $36. He said the extended mine ramp up was expected, but cash costs were higher than his forecast. <\/p>\n<p><a href=\"mailto:dpett@nationalpost.com%20\">David Pett&nbsp; <\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=418935\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ongoing saga at Cigar Lake continues to haunt Cameco Inc. investors. Late Thursday, the uranium miner released its long-awaited technical report on the Northern Saskatchewan project, revealing higher costs and a slower-than-expected ramp-up of production. &quot;While the company had recently disclosed a revised capital cost estimate of around $1.0 billion and a revised start-up [&hellip;]<\/p>\n","protected":false},"author":4060,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-516492","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/516492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4060"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=516492"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/516492\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=516492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=516492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=516492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}