Shares of Cameco (CCJ) tumbled 6.71% in pre-market trading on Wednesday following the release of its third-quarter earnings report, which fell short of analyst expectations.

The uranium producer reported adjusted earnings per share (EPS) of $0.05, significantly missing the analyst consensus estimate of $0.23 by 78.26%. While this represents a 600% increase from the loss of $0.01 per share in the same period last year, the figure disappointed investors who were expecting stronger results.

Cameco's revenue also failed to meet expectations, coming in at $446.693 million, 17.53% below the analyst consensus estimate of $541.660 million. This marks a 15.48% decrease compared to sales of $528.510 million in the same quarter last year. The substantial miss on both earnings and revenue appears to be the primary driver behind the stock's pre-market plunge, as investors reassess the company's near-term prospects in light of these results.