Cameco (CCJ) Falters, Uranium COs Trade Mixed

Companies and ETFs with exposure to uranium and nuclear are trading mixed after the poor first quarter results reported by Cameco Corp. (NYSE:CCJ).

Fortunately it was a miss related more to the company than it was to the sector, otherwise share prices would have plummeted across the board because of the continuing uncertainty in the nuclear industry related to the consequences of the earthquake in Japan.

Uranium production volume fell to 4.7 million pounds, a plunge of 23 percent. Most of that was attributed to a drop in production at McArthur River/Key Lake.

Sales volume dropped 8 percent, resulting in a 2 percent fall in revenue from uranium for Cameco.

Cameco also guided lower for the remainder of 2011.

Nuclear ETF iShares S&P Global Nuclear Energy Index (Nasdaq:NUCL) was trading at $42.00, gaining $0.35, or 0.84 percent, after trading down most of the day. Market Vectors Nuclear Energy Energy (NYSEArca:NLR) was trading at $22.64, up $0.20, or 0.89 percent.

Denison (NYSE:DNN) was trading at $2.17, down $0.01, or -0.46 percent. Cameco Corporation was at $28.31, falling $0.27, or 0.94 percent. USEC Inc. (NYSE:USU) was at $4.30, declining $0.01, or 0.23 percent. Uranium One (TSE:UUU) was trading in Toronto at $4.17, falling $0.06, or 1.42 percent. Uranium Resources, Inc. (NASDAQ:URRE) was trading at $1.65, up $0.03, or 1.85 percent. Uranium Energy (AMEX:UEC) climbed to $3.25, rising $0.05, or 1.56 percent. Ur-Energy Inc. (AMEX:URG) was at $1.51, gaining $0.02, or 1.34 percent. Uranerz Energy Corporation (AMEX:URZ) was trading at $2.725, up 0.085, or 3.22 percent

Almost every uranium company started to rebound at about 2:30 PM EDT.