Materials Pitch Buy : CCJ

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Presentation transcript:

Materials Pitch Buy : CCJ 02/19/18 Materials Pitch Buy : CCJ

Company profile Canadian Mining and Energy Corporation One of the world’s largest uranium producers. Accounts for roughly 18% of global uranium supplies. Originally founded in 1988 by merger, Cameco absorbed the largest U.S. Uranium supplier Power Resources Inc in 1996. Cameco also provides uranium refinement.

Stock Details 3 Year Stock Price 1 Year Stock Price

Uranium Prices In 2011 the Fukushima Daiichi Nuclear Reactor in Japan had a significant meltdown. Since this incident, Uranium prices have collapsed to unsustainable levels for the companies involved with producing it. Uranium is expected to rebound it’s $20 spot price to near $30 as supply is decreased and demand continues to rebound.

Long Term Growth Since Fukushima, demand has decreased among western nations but has increased in developing nations. In January 2018, two US uranium producers put forward a petition which aims to have 25% of US nuclear reactor requirements sourced from the US and a Buy America policy for US government agencies. “With China and India's nuclear sectors growing, it is not hard to imagine a similar rate of reactor construction in the years ahead.” -World Nuclear Association Cameco has deals in place to supply both China and India.

Ratios Profitability Ratios are primarily negative due to losses that the company is experiencing from the Uranium Spot Price. The Liquidity ratios show that the company is financially healthy and has the assets to last through an extended downturn. The company can outlast competitors in the industry. Gross Margin 15.9% Current Ratio 5.4 Quick Ratio 1.7 Debt/Equity 0.3

Closest Pure Uranium Competitors Rio Tinto: (100 Billion + Market Cap) Paladin Energy: (334 Million Market Cap) Areva Cameco: (4.591 Billion Market Cap) P/E 10.7x Negative Earnings Delisted P/B 2x 1.1x .89x Current Ratio 1.71 4.92 5.4 Debt/Equity 0.38% 2.2% 0.3% ROE 15.56% -133.8% -5.54% Free Cash Flow 8,079 Million USD -14 Million USD 312 Million

Balance Sheet

Income Statement

Cash Flow

Target Price/Analyst Recommendation

Risks -Uncertain times in the Uranium market. Because Cameco’s stock price is dependent on Uranium prices, Cameco’s stock is risky in the short term. -Cameco Corporate Bonds are currently rated BBB by S&P 500 due to the risky Uranium market

Questions?