RE:RBC- CCO (range-bound) and Uranium (significant oversupply)CCO rangebound? Have a look at the website. You will see there are too many lawyers, accountants and HR people on the board with an obvious lack of engineering/operations expertise. This are not the board and management teams needed to turn this company around. I only see more downside for CCO.
CanadianBuck wrote:
The Globe and Mail reports in its Wednesday edition that RBC analyst Fraser Phillips expects shares of Cameco ($13.90) to be "range-bound" for the next while as the global uranium market sits in a "state of significant oversupply," remaining in surplus through 2021. The Globe's David Leeder writes in the Eye On Equities column that in a research note previewing the second quarter earnings for Cameco, Mr. Phillips projects the company's earnings to increase year over year, citing improved results from its NUKEM Energy GmbH subsidiary, the positive effect of an increase in the loonie and lower corporate costs. Ahead of the July 28 release of the Saskatoon-based uranium producer's quarterly results, Mr. Phillips forecasts earnings per share of 10 cents for the quarter, compared with 14 cents during the same period in 2015 as well as a seven-cent loss in the previous quarter. The consensus projection is 12 cents. Mr. Phillips dropped his price target for the stock to $17 from $20.