NXE - Uranium stocks surge after Cameco's Q4 beat upbeat outlook

Cameco (CCJ) +6.3% pre-market, poised to open at a 52-week high, after reporting a surprise Q4 profit and better than expected revenues.Other uranium stocks on watch include [[DNN]] +11.9%, [[UUUU]] +6.3%, [[UEC]] +7.4%, [[URG]] +8.4%, [[NXE]] +3.5% pre-market; ETF: [[URA]] +2.5%.Cameco says its full-year uranium production volume fell 44% Y/Y to ~5M lbs., but Q4 output of 2.8M lbs. increased from 2.7M lbs. in the prior-year quarter.Production at the Cigar Lake mine remains suspended because of the pandemic, so the company's production plan for 2021 is uncertain; while output is suspended, Cameco expects to incur $8M-$10M per month in care and maintenance costs.Despite the "unprecedentedly challenging year" and costs incurred due to disruptions caused by the pandemic, Cameco finished the year with more than $940M in cash and a $1B undrawn credit facility.The company says it remains positive heading into 2021 about the long-term fundamentals for the uranium market, citing increasing

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Uranium stocks surge after Cameco's Q4 beat, upbeat outlook