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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 decrease by -9.65 % in Q2 compare to a year ago, sequentially costs of revenue were trimmed by -7.9 %, 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 decrease by -9.65 % in Q2 compare to a year ago, sequentially costs of revenue were trimmed by -7.9 %, 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 Q2 by Customers Net margin grew to
42.3 % 10.87 %



Western Uranium & Vanadium's Customers, Q2 2019 Revenue Growth By Industry
Customers in Oil Refineries Industry -12.99 %   
Customers in Electric Utilities Industry -7.08 %   
Customers in Natural Gas Utilities Industry -8.25 %   
     
• 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 10,138 10,592 672 18,500
Cms Energy Corporation CMS 18,262 6,932 340 7,741
Dominion Energy Inc D 82,631 14,640 926 14,400
Dte Energy Co DTE 23,966 20,286 1,091 10,000
Duke Energy Corp DUK 66,481 24,779 3,161 28,344
Edison International EIX 23,809 12,914 -126 13,690
EL PASO CORP EP 0 0 0 0
Exelon Corp EXC 44,245 35,769 2,414 0
Firstenergy Corp FE 24,353 10,980 624 15,557
Nisource Inc. NI 11,125 8,019 -383 8,982
Paragon Offshore Plc PGN 0 231 605 0
Public Service Enterprise Group Incorporated PEG 30,009 6,933 1,093 12,689
The Southern Company SO 61,500 22,006 4,481 26,369
Teco Energy Inc TE 0 5,014 198 4,400
TXU CORP TXU 0 0 0 0
Williams Companies, Inc. WMB 28,664 8,602 192 6,742
Xcel Energy Inc XEL 32,779 11,646 1,258 11,589
Integrys Holding, Inc. TEG 0 0 0 4,472
Ppl Corporation PPL 21,789 7,693 1,767 17,391
Wec Energy Group, Inc. WEC 29,501 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 18,985 6,078 801 8,527
Sempra Energy SRE 39,189 11,289 2,251 17,046
NORTHEAST UTILITIES NU 0 0 0 8,248
CONSTELLATION ENERGY GROUP, INC. CEG 0 0 0 0
Nrg Energy, Inc NRG 9,577 8,765 623 9,806
Entergy Corporation ETR 21,613 9,618 977 13,393
American Electric Power Co Inc. AEP 45,070 15,765 1,978 1,859
Eversource Energy ES 25,564 8,607 868 8,248
Macquarie Infrastructure Corp MIC 3,283 1,680 89 3,600
SUBTOTAL 681,927 296,111 28,024 285,883


             
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