Uranium miner Cameco reports $62M loss in 4th quarter

Cameco Corp. lost $62 million in its latest quarter, an improvement from the year-earlier loss of $144 million.

Revenues down compared to Q4 last year

Cameco continues to suffer losses due to a poor uranium market. (Liam Richards/Canadian Press)

Cameco Corp. lost $62 million in its latest quarter, an improvement from the year-earlier loss of $144 million.

The Saskatoon-based uranium miner says the loss amounted to 16 cents per share for the three months ended Dec. 31, compared with a loss of 36 cents per a year earlier.

On an adjusted basis, Cameco says it earned $181 million or 46 cents per share in the last three months of 2017, up from $90 million or 23 cents per share in the final quarter of 2016.

Revenue in what was its fourth-quarter totalled $809 million compared with $887 million in the year-earlier quarter.

On Thursday, Cameco announced the appointment of Ian Bruce as chair of its board of directors effective following the company's annual meeting on May 16.

Bruce will succeed Neil McMillan, who is retiring from the board.