Cameco

Halal Rating :
Uncomfortable
Last Price $49.8
Market Cap $21.68b
1D Change

-1.79 %

1 Year Change

20.83 %

Next Earnings Date

Yet to be announced

Company Overview

Cameco Corporation is one of the world's largest publicly traded uranium companies, accounting for approximately 18% of global uranium production. The company operates uranium mines in North America and Kazakhstan, and provides uranium fuel processing services to nuclear power plants worldwide. Cameco is primarily focused on mining, refining, and fuel manufacturing operations related to nuclear energy production.

Revenue Sources

Pass

Based on review of Cameco's financial statements and business operations, the company's primary revenue comes from uranium mining, processing, and fuel services for nuclear power generation. These activities are permissible from an Islamic finance perspective as they involve the extraction and processing of natural resources and manufacturing of fuel products. There is no evidence of revenue from prohibited sources exceeding the 2.5% threshold.

Reliance on Interest

Reporting Date Total Revenue Total Expense Interest Income Interest Expense Interest Income Ratio Interest Expense Ratio
June 30, 2024 $598.46m $544.8m $7.89m $38.67m 1.32% 7.10%
March 31, 2024 $634.0m $539.85m $6.32m $33.15m 1.00% 6.14%
Dec. 31, 2023 $843.72m $871.75m $19.05m $34.32m 2.26% 3.94%
Sept. 30, 2023 $575.08m $458.71m $65.66m $19.26m 11.42% 4.20%

Analysis of the last four quarters shows that interest expense as a percentage of total expenses ranges between 3.5% and 7.1% of total expenses, which exceeds the 5% threshold in multiple quarters. Interest income relative to revenue has also been significant, ranging from 1.0% to 11.4% of total revenue.

Operational Ethics

Pass

Review of Cameco's operations and partnerships shows no evidence of material ongoing associations with entities involved in human rights violations. The company's primary operations are in Canada, the United States, and Kazakhstan, with its partnerships focused on commercial uranium production and nuclear fuel services.

Rating Justification

Member Vote

Agree: 1 Disagree: 0

Login to vote on this

Comments

0 Comments

Login to join the discussion

Recent News & Updates