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Cameco reported its second quarter earnings on Thursday.
The Saskatoon-based uranium company reported increased revenue and profits year-over-year for the three-month period ending June 30.
Overall, the company projected that its yearly revenue would rise about five to 10 per cent.
The report showed that the company expects to produce between 25.3 and 26.3 million pounds of uranium in 2015.
The company said that it had hit its sales and production targets for the quarter.
The report stated that the company is still faced with an oversupplied world market that’s caused the price of uranium to remain flat.
In the short term, Cameco is hoping plans to restart nuclear power generation in Japan go ahead. Reactors in that country were taken offline following the Fukushima disaster in 2011.
The earnings report suggested that the first Japanese reactor could be coming back into operation in August, but those plans remain unconfirmed.
In the long term, the company expects prices to turn around as China and India continue building more reactors.
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