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Fly News Breaks for July 27, 2018
CCJ
Jul 27, 2018 | 08:26 EDT
As reported earlier, BMO Capital analyst Alexander Pearce downgraded Cameco to Market Perform from Outperform and lowered his price target to $15 from $16. The analyst cites the company's indefinite suspension of operations at the world's largest uranium mine - McArthur River - noting the move "reinforces the message to utilities that future supplies are not guaranteed at current uranium prices". Pearce adds that while uranium price should be supported, it is a negative for Cameco earnings in the near term.
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