Cameco (CCO.TO) is trading 4.1% down at $132.80 following the temporary suspension of mining operations at its high-grade Cigar Lake Uranium Mine due to operational issues at the McClean Lake Mill's sulfuric acid plant.
- The McClean Lake mill, which processes ore from Cigar Lake, is expected to resume service in approximately two weeks, with Cameco currently not anticipating an impact on its 2026 production outlook, although risks of prolonged delays remain.
- This company-specific development, coupled with broader risk-off sentiment and declines in the TSX Composite Index today, contributed to the stock's downside pressure.