Shares of Cameco Corp. (NYSE: CCJ) plunged in pre-market trading on Wednesday after the Canadian uranium producer reported third-quarter earnings that missed analysts' expectations.
Cameco reported an adjusted loss of $0.01 per share for the quarter, significantly lower than the consensus estimate of $0.25 earnings per share. Revenue for the quarter came in at $721 million, missing analysts' expectations of $741.356 million.
The disappointing earnings results sent Cameco's stock tumbling over 7% in pre-market trading, as investors reacted negatively to the weaker-than-expected performance. The missed estimates raised concerns about the company's ability to meet its full-year targets and future growth prospects.
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