Added to YB: 2025-08-27
Pitch date: 2025-08-24
KAP.L [neutral]
National Atomic Company Kazatomprom JSC
+30.89%
current return
Author Info
The Pale Blue Dot is an ex-investment banker with more than a decade of experience in M&A advisory, capital raising and equity derivatives. Sign up for the newsletter.
Company Info
National Atomic Company Kazatomprom JSC explores for, produces, processes, markets, and sells uranium and uranium related products.
Market Cap
KZT 6.1T
Pitch Price
KZT 23.5K
Price Target
N/A
Dividend
5.39%
EV/EBITDA
5.91
P/E
10.26
EV/Sales
3.65
Sector
Oil, Gas and Consumable Fuels
Category
turnaround
Kazatomprom ($KAP) 1H 2025 Results And Production Guidance
KAP.L (earnings update): 2025 production on track at 25-26.5KtU, but 2026 SUA cut 9.5% to 29.7KtU. Management signals using 20% down-flex, implying potential 23.8KtU floor (below 2025). Production costs up 10% YoY at lowest-cost producer. Supply constraints continue w/ acid plant delays, no capacity expansion until 2028. Cameco also cutting production, drawing inventory. Utilities delaying procurement as supply gap widens, supporting higher uranium prices.
Read full article (3 min)