Why Cameco Stock Fell 13% at the Open on July 29

[admin]

Shares of giant uranium miner Cameco (NYSE: CCJ) fell as much as 13% in the first half hour of trading on July 29. The headline on the company's press release was telling: "Cameco Reports Second Quarter Results -- Well Positioned Financially, Supported by Cigar Lake Restart." On the positive side, revenue was up 35% year over year in the quarter, beating analyst expectations by around 30%.