Cameco (NYSE:CCJ) Posts Earnings Results, Beats Estimates By $0.05 EPS

Cameco (NYSE:CCJ) (TSE:CCO) issued its quarterly earnings data on Tuesday. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05, Zacks reports. The firm had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.19% and a net margin of 18.38%.The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 earnings per share.

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

• Cameco says nuclear momentum is structural, with governments focused on execution and AP1000 technology emerging as the deployment-ready benchmark that should drive long-term fuel demand.
• Progress continues on Westinghouse negotiations with the U.S. government (DOC and DOE tracks), with company involvement in supply?chain standing?up and the possibility of up to ~20 U.S. reactors being discussed, though definitive agreements are still in progress.
• Q1 results were in line with expectations and the company left its full-year 2026 guidance unchanged; quarter-over?quarter gains were mainly timing and higher uranium prices rather than a structural change.
• Operations remain on plan—Canadian production tracking to guidance, JV Inkai back to planned production, and a planned extended Q3 Key Lake shutdown to tie in infrastructure; some supply?chain cost pressures (e.g., acid) are being monitored but not expected to materially impact 2026.
• Cameco is actively managing supply via inventory and product loans (now over 4 million pounds borrowed) and advancing Global Laser Enrichment (at TRL 6) as a potential Western enrichment/conversion source, supporting long?term supply diversification.

Cameco Trading Down 3.7%

Shares of NYSE CCJ traded down $4.52 during trading hours on Thursday, reaching $119.24. The stock had a trading volume of 1,396,057 shares, compared to its average volume of 3,880,148. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The firm has a market cap of $51.93 billion, a price-to-earnings ratio of 111.11, a P/E/G ratio of 2.12 and a beta of 1.04. The business’s fifty day moving average price is $114.92 and its two-hundred day moving average price is $105.75. Cameco has a 52-week low of $48.81 and a 52-week high of $135.24.

Key Cameco News

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Q1 results beat consensus — Cameco reported better?than?expected Q1 earnings and revenue, signaling stronger demand dynamics in the uranium market, which supports medium?term cash flow and pricing power. Cameco (CCJ) Beats Q1 Earnings and Revenue Estimates
• Positive Sentiment: Analyst support remains — Stifel Canada kept a Buy rating and a C$180 target after Q1, reinforcing bullish guidance from some sell?side firms that CCJ’s vertically integrated model should capture more of the nuclear fuel cycle upside. Cameco Maintained at Buy at Stifel Canada Following Q1 Results; Price Target Kept at C$180
• Positive Sentiment: Price?target momentum — Scotiabank publicly raised its Cameco price target to $175, citing accelerating demand for nuclear fuel and structural tailwinds for uranium prices. Scotiabank Just Hiked Cameco Price Target to $175 as the Nuclear Renaissance Accelerates
• Neutral Sentiment: Analyst/upgrade coverage amplified bullish thesis — multiple long?form pieces and upgrades (Seeking Alpha coverage and others) highlight Cameco’s vertical integration and Westinghouse stake as structural advantages, which supports positive long?term conviction but may already be priced in. The World Is Going Nuclear And Cameco Is Ready
• Negative Sentiment: Scotiabank trimmed its FY2027 EPS estimate (from $1.47 to $1.37) despite keeping an Outperform stance and $175 target — the cut signals some near?term earnings risk and likely contributed to profit?taking. (Research note issued May 6)
• Negative Sentiment: Valuation and liquidity concerns — Cameco’s share price now reflects a rich multiple (P/E ~114) and intra?day volume is below average, meaning upside expectations are high and the stock is more vulnerable to downward moves on any modest negative news.

Institutional Trading of Cameco

Large investors have recently modified their holdings of the company. Marshall Wace LLP raised its stake in Cameco by 7,481.3% in the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after buying an additional 1,729,454 shares in the last quarter. Man Group plc raised its stake in Cameco by 126.3% in the third quarter. Man Group plc now owns 1,698,728 shares of the basic materials company’s stock worth $142,455,000 after buying an additional 948,068 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Cameco by 1,339.8% during the fourth quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company’s stock worth $88,247,000 after purchasing an additional 897,558 shares in the last quarter. Sourcerock Group LLC acquired a new position in shares of Cameco during the second quarter worth $43,242,000. Finally, Mackenzie Financial Corp increased its position in shares of Cameco by 42.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,278,002 shares of the basic materials company’s stock worth $116,542,000 after purchasing an additional 382,830 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

CCJ has been the subject of several recent research reports. Royal Bank Of Canada lifted their price target on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce lifted their price target on Cameco to $202.00 in a research report on Monday, March 9th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, Glj Research reaffirmed a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $153.13.

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.