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Western Uranium & Vanadium Corp.  (WUC)
Other Ticker:  
 
    Sector  Basic Materials    Industry Metal Mining
   Industry Metal Mining
   Sector  Basic Materials
 

Western Uranium & Vanadium's Customers Performance

WUC

 
WUC's Source of Revenues Customers of Western Uranium & Vanadium Corp. saw their costs of revenue fall by -34.2 % in Q3 compare to a year ago, sequentially costs of revenue were trimmed by -6.13 %, for the same period Western Uranium & Vanadium Corp. revnue deteriorated by 0 % year on year, sequentially revnue fell by 0 %.

List of WUC Customers




Customers of Western Uranium & Vanadium Corp. saw their costs of revenue fall by -34.2 % in Q3 compare to a year ago, sequentially costs of revenue were trimmed by -6.13 %, for the same period Western Uranium & Vanadium Corp. revnue deteriorated by 0 % year on year, sequentially revnue fell by 0 %.

List of WUC Customers


   
Customers Net Income grew in Q3 by Customers Net margin grew to
22.53 % 15.13 %



Western Uranium & Vanadium's Customers, Q3 2019 Revenue Growth By Industry
Customers in Oil Refineries Industry -14.43 %   
Customers in Electric Utilities Industry      9.24 %
Customers in Natural Gas Utilities Industry -9.27 %   
     
• Customers Valuation • Segment Rev. Growth • Segment Inc. Growth • Customers Mgmt. Effect.


Western Uranium & Vanadium's Comment on Sales, Marketing and Customers



Spot prices rose from $21.00 per pound in January 2005 to a high of $136.00 per pound in June 2007 in anticipation of sharply higher projected demand as a result of a resurgence in nuclear power and the depletion or unavailability of secondary supplies. Secondary supplies are inventories of uranium not publicly available for sale, they are primarily held by utility companies and governments. The sharp price increase was driven in part by high levels of buying by utility companies, which resulted in most utilities covering their requirements through 2009. A decrease in near-term utility demand coupled with rising levels of supplies from producers and traders led to downward pressure on uranium prices since the third quarter of 2007. A rebound in uranium prices in conjunction with a recovery in commodities in 2010 was curtailed by the Fukushima disaster in Japan.

Since the Fukushima disaster in 2011, uranium prices entered a steady decline until June 2014, when they rebounded slightly and peaked again in March 2015. After that peak, prices again began to fall steadily reaching their lowest point in November 2016 and are currently back on the rise.

The only significant commercial use for uranium is as a fuel for nuclear power plants for the generation of electricity. According to the WNA, as of March 2017, there were 410 nuclear reactors operable worldwide, excluding the 37 idled reactors in Japan, with annual requirements of about 139.8 million pounds of uranium.

Worldwide uranium production or primary supply in 2016 is estimated by UxC Consulting in its Q4 2015 report at 163 million pounds. This is compared with 151 million pounds of primary supply in 2015. UxC Consulting estimated that global uranium demand was 148 million pounds in 2016. Separately, the World Nuclear Association estimated that demand was 165 million pounds in 2016.

From the reports of leading investment banks, the macroeconomic conditions driving uranium prices are as follows:

New reactor construction in India, China, South Korea, Russia, and the Middle East

The restart of Japan’s nuclear reactors

Decrease in primary supply due to producers shutting down mining operations that aren’t profitable at current pricing levels

Decreasing secondary supplies (excess reserves and supplies generally held by governments and utilities).

Across the 15 banks and analysts most active in the sector, a term structure of rising uranium spot prices which are significantly above today’s prices are forecast almost across the board from 2017 to 2020. A potential dramatic rising in uranium prices is forecast in 2019 primarily due to two factors. The first is an expected reduction in uranium production due to the currently low prices. The second is continued growth in nuclear energy, fueled primarily by new plants in India and China and the recommissioning of nuclear power plants in Japan. This should lead to excess reserves and inventories drying up, causing a projected shortage in 2019.

Based upon recent uranium pricing forecasts from leading bankers, we believe that uranium prices will improve enough over the coming years for Western to initiate production.

Western Uranium & Vanadium's Comment on Sales, Marketing and Customers


Spot prices rose from $21.00 per pound in January 2005 to a high of $136.00 per pound in June 2007 in anticipation of sharply higher projected demand as a result of a resurgence in nuclear power and the depletion or unavailability of secondary supplies. Secondary supplies are inventories of uranium not publicly available for sale, they are primarily held by utility companies and governments. The sharp price increase was driven in part by high levels of buying by utility companies, which resulted in most utilities covering their requirements through 2009. A decrease in near-term utility demand coupled with rising levels of supplies from producers and traders led to downward pressure on uranium prices since the third quarter of 2007. A rebound in uranium prices in conjunction with a recovery in commodities in 2010 was curtailed by the Fukushima disaster in Japan.

Since the Fukushima disaster in 2011, uranium prices entered a steady decline until June 2014, when they rebounded slightly and peaked again in March 2015. After that peak, prices again began to fall steadily reaching their lowest point in November 2016 and are currently back on the rise.

The only significant commercial use for uranium is as a fuel for nuclear power plants for the generation of electricity. According to the WNA, as of March 2017, there were 410 nuclear reactors operable worldwide, excluding the 37 idled reactors in Japan, with annual requirements of about 139.8 million pounds of uranium.

Worldwide uranium production or primary supply in 2016 is estimated by UxC Consulting in its Q4 2015 report at 163 million pounds. This is compared with 151 million pounds of primary supply in 2015. UxC Consulting estimated that global uranium demand was 148 million pounds in 2016. Separately, the World Nuclear Association estimated that demand was 165 million pounds in 2016.

From the reports of leading investment banks, the macroeconomic conditions driving uranium prices are as follows:

New reactor construction in India, China, South Korea, Russia, and the Middle East

The restart of Japan’s nuclear reactors

Decrease in primary supply due to producers shutting down mining operations that aren’t profitable at current pricing levels

Decreasing secondary supplies (excess reserves and supplies generally held by governments and utilities).

Across the 15 banks and analysts most active in the sector, a term structure of rising uranium spot prices which are significantly above today’s prices are forecast almost across the board from 2017 to 2020. A potential dramatic rising in uranium prices is forecast in 2019 primarily due to two factors. The first is an expected reduction in uranium production due to the currently low prices. The second is continued growth in nuclear energy, fueled primarily by new plants in India and China and the recommissioning of nuclear power plants in Japan. This should lead to excess reserves and inventories drying up, causing a projected shortage in 2019.

Based upon recent uranium pricing forecasts from leading bankers, we believe that uranium prices will improve enough over the coming years for Western to initiate production.







WUC's vs. Customers, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME TICKER MARKET CAP REVENUES INCOME EMPLOYEES
Western Uranium & Vanadium Corp. WUC 0 0 -2 2
AYE 0 8,660 915 0
The Aes Corporation AES 12,490 10,592 672 18,500
Cms energy Corporation CMS 17,939 6,879 378 7,741
Dominion Energy, Inc. D 67,475 15,458 1,028 14,400
Dte Energy Co DTE 23,042 21,736 1,073 10,000
Duke Energy Corp DUK 65,360 24,779 3,161 28,344
Edison International EIX 24,908 12,386 -168 13,690
EL PASO CORP EP 0 0 0 0
Exelon Corporation EXC 43,694 34,908 2,326 0
Firstenergy Corp FE 25,784 10,980 624 15,557
Nisource Inc. NI 10,024 8,875 -401 8,982
Paragon Offshore Plc PGN 0 231 605 0
Public Service Enterprise Group Incorporated PEG 29,720 6,841 1,084 12,689
The Southern Company SO 65,671 21,842 4,604 26,369
Teco Energy Inc TE 0 5,014 198 4,400
TXU CORP TXU 0 0 0 0
Williams companies, inc. WMB 27,173 8,298 234 6,742
Xcel Energy Inc XEL 32,302 14,382 1,294 11,589
Integrys Holding, Inc. TEG 0 0 0 4,472
Ppl Corporation PPL 25,111 7,693 1,767 17,391
Wec Energy Group, Inc. WEC 28,215 7,688 1,094 4,248
Scana Corporation SCG 6,833 3,531 -115 5,989
Pepco Holdings Inc POM 0 4,340 -212 2,374
Dynegy Inc. DYN 2,562 3,055 442 1,679
Ameren Corporation AEE 18,614 6,013 808 8,527
Sempra Energy SRE 43,144 11,107 2,826 17,046
NORTHEAST UTILITIES NU 0 0 0 8,248
CONSTELLATION ENERGY GROUP, INC. CEG 0 0 0 0
Nrg Energy, Inc NRG 10,271 8,765 623 9,806
Entergy Corporation ETR 22,941 9,618 977 13,393
American Electric Power Co Inc. AEP 45,776 15,747 2,132 1,859
Eversource Energy ES 26,016 8,607 868 8,248
Macquarie Infrastructure Corporation MIC 3,678 1,612 129 3,600
SUBTOTAL 678,742 299,636 28,966 285,883


             
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