CCJ - Cameco expects $300M refund from Canada's tax agency after revised reassessments

2023-03-27 09:27:12 ET

Cameco ( NYSE: CCJ ) +2.4% pre-market Monday after saying it expects to receive a ~C$300M refund from the Canada Revenue Agency, which issued revised reassessments for the 2007-13 tax years.

The refund will consist of C$89M in cash and $211M in letters of credit, which the company had remitted based on prior reassessments the tax agency issued in its longstanding tax dispute over a foreign subsidiary.

Cameco ( CCJ ) said its broader tax dispute with CRA remains ongoing, as the agency continues to hold a further C$480M, consisting of C$206M in cash and C$274M in letters of credit, that the company has remitted or secured to date.

Cameco ( CCJ ) has issued a very strong 2023 outlook that investors are not fully appreciating, Michael Wiggins de Oliveira writes in an analysis published recently on Seeking Alpha .

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