Boston, MA 02/11/2014 (wallstreetpr) – Cameco Corporation (USA) (NYSE:CCJ) is moving away from its earlier production target to hit 36 million pounds of uranium per year by 2018. The company’s Chief Executive Time Gitzel believes that it no longer makes sense to stick to that goal, however much it is the best thing to do. The company has been troubled, more so by the virtual shutdown of nuclear industry in Japan. Thus, while CCJ still believes in its long-term prospects, the short and medium term look too foggy to bring the desired growth. Yet against, the company stated that its desire to operate off target isn’t indication that it would not growth, rather it takes away the pressure of operating with fixed targets and timelines. Cameco Corporation (USA) (NYSE:CCJ) produced 23.6 million pounds of uranium last year and 21.9 million pounds in 2012. It was looking forward to produce in the range of 23.8 – 24.3 million pounds this year.
Chesapeake Energy Corporation (NYSE:CHK) has been downgraded at Howard Weil. The brokerage now has a “sector perform” rating on the stock, down from a “sector outperform” that it issued in the previous view. The firm has planted $30 target price on the stock, a dollar below the previous $31 price objective. On average, analysts have consensus “hold” and $25.95 target price on the stock. These reflect views from 16 equities research who are currently tracking Chesapeake Energy Corporation (NYSE:CHK).
Goldcorp Inc. (USA) (NYSE:GG) is selling a combined venture with Barrick Gold at Nevada mine for $275 million to Standard Resources. The deal which is expected to close in April is an all-cash transaction. GG owns two thirds of the partnership while Barrick Gold own the remaining half. The company through the CEO Chuck Jeannes has announced that the said sale is in-line with their efforts to focus on core operations. At the same time, Goldcorp Inc. (USA) (NYSE:GG) is making a bid of $2.4 billion to purchase Osisko Mining Corp. But that bid has generated a lot of heat, and has been termed hostile by executives of Osisko.
