Cameco (NYSE:CCJ) Issues Earnings Results

Cameco (NYSE:CCJ) (TSE:CCO) released its quarterly earnings results on Friday. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07, Zacks reports. The company had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS.

Here are the key takeaways from Cameco’s conference call:

• FY2025 results were strong — revenue ~CAD 3.5 billion (+11%), adjusted EBITDA ~CAD 1.9 billion (+26%) and adjusted net earnings ~CAD 630 million (+115%), with ~CAD 1.2 billion cash and CAD 1 billion debt underpinning a solid balance sheet.
• Westinghouse partnership and the U.S. government initiative (backed by at least US$80 billion) advances AP1000 deployments; Cameco expects its share of Westinghouse adjusted EBITDA of ~US$370–430M in 2026 and estimates roughly US$400–600M EBITDA per reactor (typically ordered in two‑packs).
• Cameco is executing a disciplined contracting strategy — ending 2025 with ~230 million pounds of long‑term commitments and ~28 million pounds/year committed over the next five years — deliberately preserving uncommitted supply to capture higher pricing as demand firming continues.
• Operationally, 2026 production guidance (19.5–21.5M lb consolidated; deliveries 29–32M lb) reflects paced ramps after McArthur River development delays, meaning near‑term output may remain below previous design peaks until market signals justify acceleration.
• Fuel services momentum and technology upside — record UF6 production at Port Hope and a tight conversion market support pricing, while GLE achieved TRL‑6 and is focused on DOE tails re‑enrichment as a near‑term commercial route.

Cameco Price Performance

CCJ opened at $113.10 on Friday. Cameco has a 52-week low of $35.00 and a 52-week high of $135.24. The company has a 50 day moving average of $106.43 and a two-hundred day moving average of $91.85. The company has a market cap of $49.25 billion, a P/E ratio of 131.52 and a beta of 0.99. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15.

Institutional Investors Weigh In On Cameco

Large investors have recently modified their holdings of the stock. Bison Wealth LLC raised its position in shares of Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after purchasing an additional 2,975 shares during the period. EP Wealth Advisors LLC grew its stake in Cameco by 12.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 9,577 shares of the basic materials company’s stock worth $711,000 after buying an additional 1,071 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in Cameco in the second quarter worth $2,660,000. Brevan Howard Capital Management LP lifted its stake in Cameco by 17.6% in the second quarter. Brevan Howard Capital Management LP now owns 26,529 shares of the basic materials company’s stock valued at $1,951,000 after buying an additional 3,964 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. acquired a new position in shares of Cameco during the second quarter valued at $2,969,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. National Bank Financial reiterated an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Zacks Research raised Cameco from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 14th. UBS Group started coverage on shares of Cameco in a research note on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective for the company. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $131.39.

Cameco News Summary

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Q4 revenue and EPS beat expectations — Cameco reported roughly C$1.2B in Q4 revenue (above consensus) and EPS that topped estimates, highlighting solid execution across uranium, fuel services and Westinghouse segments. Cameco Q4 2025 Earnings Call Highlights
• Positive Sentiment: Quarterly metrics improved vs. prior year — revenue was up year-over-year and net margin/ROE showed profitability gains, supporting the narrative of disciplined supply strategy and operational leverage. Cameco fourth quarter results top analyst estimates
• Positive Sentiment: Heavy call-option buying indicates bullish speculative positioning — unusually large volume (~384,705 calls) was traded, suggesting some investors are positioning for upside after the print. Options Flow Report
• Neutral Sentiment: Full release, slide deck and call available — management provided a slide deck and conference-call materials that detail segment performance and medium-term strategy; useful for investors wanting to dig into guidance assumptions. Press Release / Slide Deck
• Negative Sentiment: FY2026 revenue guidance came in slightly below consensus — the company issued FY2026 revenue guidance around $2.2B–$2.4B (with wording that markets interpreted as cautious), which likely weighed on near-term sentiment despite the quarter beat. Cameco Announces 2025 Results (Business Wire)
• Negative Sentiment: Stock is trading lower with above-average volume — intraday weakness reflects investor caution around guidance and near-term prospects despite strong Q4 execution. Market Data

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.