Uranium One Inc SXRZF

Cameco profit up, may consider acquisitions

[LongoGlueStick]

TORONTO, Feb 6 (Reuters) - Cameco Corp's (CCO.TO: Quote, Profile, Research) profit jumped 52.5 percent in the fourth quarter despite shortfalls at its nuclear fuel division, the company said on Wednesday, while its chief executive suggested the company may soon be on the prowl for acquisitions. Cameco, the world's top uranium producer, has largely stayed out of the mining M&A boom over the last three years, a decision some have criticized as short-sighted, particularly as uranium spot prices jumped to record highs last year. Speaking on a conference call, however, Chief Executive Jerry Grandey said the recent weakness in equity markets had pulled stock valuations down to the point where large deals might again be appealing. "We're certainty getting closer. We've seen a pretty dramatic decline (in valuations,)" he said.