On June 2, Cameco Corp rose 3.02% in regular trading, trading at $118.653/share, with trading volume of $113 million. The rally was driven by the company's announcement that its McArthur River uranium mine and Key Lake mill have fully resumed production following a nearly three-week disruption caused by flooding in Saskatchewan.

On May 10, flooding in Saskatchewan caused partial collapse of a critical transportation bridge, limiting production at the two facilities. The company has since implemented a temporary transportation solution via a secondary supply route, restoring both sites to full capacity. Cameco reaffirmed its full-year consolidated production guidance of 19.5 to 21.5 million pounds of U3O8. The company noted that risks of thawing and precipitation could lead to further road restrictions and potential delivery delays.

Additionally, Cameco announced an agreement to acquire a 2.871 percentage point increase in its Cigar Lake joint venture stake from TEPCO Resources for approximately C$115.8 million, bringing its total ownership to 57.418%. The transaction is expected to close in Q3, subject to regulatory approvals.

Within the Coal & Consumable Fuels sector, uranium-related stocks broadly advanced. Among individual stocks, Ur-Energy up 10.53%, Nexgen Energy up 4.47%, Uranium up 4.08%, Energy Fuels up 4.06%, and Centrus up 1.08%.

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