Cameco (NYSE:CCJ) Issues Quarterly Earnings Results

Cameco (NYSE:CCJ) (TSE:CCO) posted its quarterly earnings data on Friday. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13), Zacks reports. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.58 million. During the same quarter last year, the business posted $0.71 EPS. The company’s quarterly revenue was down 6.8% on a year-over-year basis.

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

• 2026 production guidance remains unchanged at Cameco’s share of 19.5–21.5 million pounds of U₃O₈, despite temporary disruptions at Key Lake, McArthur River, and Cigar Lake.
• Uranium market conditions continued to strengthen, with long-term prices reaching decade highs and realized uranium and fuel-services prices improving. Cameco said it remains disciplined and selective, increasing contracting only where pricing and downside protection support long-term value.
• Second-quarter and first-half financial results were below the prior year, primarily because 2025 included a significant Westinghouse payment tied to the Dukovany reactor project. Cost guidance was also raised modestly, mainly due to foreign-exchange effects on purchases.
• Westinghouse disclosed a pipeline of 91 potential AP1000 reactors and is advancing definitive agreements related to the U.S. Department of Energy’s $17.5 billion conditional commitment to support long-lead-item procurement, which could accelerate U.S. nuclear deployment.
• Cameco highlighted its increased ownership in the high-grade Cigar Lake mine and strategic exposure to the nuclear fuel cycle through Westinghouse and Global Laser Enrichment, positioning the company to benefit from rising demand for nuclear power and fuel security.

Cameco Stock Performance

NYSE:CCJ traded down $2.12 during trading hours on Friday, reaching $86.11. The stock had a trading volume of 5,594,015 shares, compared to its average volume of 3,632,703. The stock has a market cap of $37.50 billion, a P/E ratio of 79.73, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02. The stock has a 50 day simple moving average of $99.45 and a 200 day simple moving average of $109.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. Cameco has a 12-month low of $68.96 and a 12-month high of $135.24.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CCJ shares. Citigroup reaffirmed a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Barclays reduced their price objective on Cameco from $108.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 15th. Scotiabank reaffirmed an “outperform” rating and set a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada lifted their target price on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $146.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CCJ. Mcguire Capital Advisors Inc. purchased a new stake in Cameco in the 4th quarter worth approximately $28,000. Corient Private Wealth LLC grew its position in shares of Cameco by 1,339.8% during the 4th quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company’s stock valued at $88,247,000 after purchasing an additional 897,558 shares in the last quarter. Alpine Woods Capital Investors LLC increased its holdings in shares of Cameco by 57.6% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 9,766 shares of the basic materials company’s stock worth $893,000 after purchasing an additional 3,568 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Cameco by 9.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,208 shares of the basic materials company’s stock worth $1,025,000 after buying an additional 939 shares in the last quarter. Finally, Vident Advisory LLC raised its position in shares of Cameco by 5.5% in the fourth quarter. Vident Advisory LLC now owns 511,768 shares of the basic materials company’s stock worth $46,822,000 after buying an additional 26,699 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Trending Headlines about Cameco

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Westinghouse IPO could unlock value: Westinghouse, the nuclear-services venture backed by Cameco and Brookfield, confidentially submitted a draft registration statement for a proposed initial public offering. The transaction could highlight the value of Cameco’s nuclear-fuel-cycle investments and potentially provide capital for growth. Cameco Announces Westinghouse IPO Filing
• Positive Sentiment: Long-term nuclear outlook remains favorable: Cameco said its production outlook is unchanged and cited growing government and utility support for nuclear power as a factor supporting stronger uranium prices over time. Its positioning across uranium mining, fuel processing and Westinghouse gives the company exposure to multiple parts of the nuclear-energy supply chain. Cameco Second-Quarter Results
• Neutral Sentiment: Revenue guidance broadly aligns with estimates: Cameco issued 2026 revenue guidance of approximately $2.4 billion to $2.6 billion, compared with consensus near $2.4 billion. The range offers some upside potential but did not provide a clear positive earnings catalyst.
• Negative Sentiment: Second-quarter earnings missed forecasts: Cameco reported quarterly EPS below the analyst consensus—approximately $0.13 to $0.18 per share, depending on the reporting measure, versus estimates around $0.25 to $0.26. Earnings were also sharply below the prior-year period, while revenue declined 6.8% year over year. Cameco Earnings Report
• Negative Sentiment: Bearish options activity increased: Traders purchased 26,363 put options, about 28% above the average volume. This points to heightened demand for downside protection or bearish speculation, adding pressure to sentiment, though it is not conclusive evidence of future performance.

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.