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Cameco Q4 net profit plunges 39 per cent as COVID-19 forced uranium mine suspension

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Cameco Corp. beat expectations even as the uranium miner reported that its net income attributable to common shareholders decreased 39 per cent to $80 million in the fourth quarter due to the impact of COVID-19.The Saskatoon-based company says its profit for the quarter ended Dec.

31 amounted to 20 cents per diluted share, which fell from a profit of 32 cents per diluted share or $128 million a year earlier.

Cameco temporarily shutting down Cigar Lake over rising COVID-19 risks Revenue totalled $550 million, down 37 per cent from $874 million.On an adjusted basis, Cameco says it had a profit of $48 million, compared with a profit of $94 million from the same time a year earlier.Cameco had an adjusted profit of 12 cents per diluted share,.

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