Cameco (NYSE:CCJ) Issues Earnings Results

Cameco (NYSE:CCJ) (TSE:CCO) announced its quarterly earnings data on Friday. The basic materials company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.08, Zacks reports. The company had revenue of $874.57 million during the quarter, compared to analyst estimates 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 business 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 Stock Performance

Cameco stock traded down $3.29 during midday trading on Friday, reaching $113.10. 5,942,535 shares of the stock traded hands, compared to its average volume of 4,895,562. Cameco has a fifty-two week low of $35.00 and a fifty-two week high of $135.24. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. The firm has a market cap of $49.25 billion, a price-to-earnings ratio of 131.52 and a beta of 0.99. The firm has a fifty day moving average price of $105.99 and a two-hundred day moving average price of $91.62.

More Cameco News

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

Analysts Set New Price Targets

CCJ has been the subject of a number of research reports. Royal Bank Of Canada decreased their price target on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, November 13th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $147.00 target price on shares of Cameco in a research report on Thursday, February 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Cameco in a research report on Monday, December 29th. Raymond James Financial restated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Finally, National Bank Financial reissued an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco has a consensus rating of “Buy” and an average price target of $131.39.

Hedge Funds Weigh In On Cameco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Keel Point LLC raised its stake in Cameco by 2.4% during the 4th quarter. Keel Point LLC now owns 5,806 shares of the basic materials company’s stock valued at $531,000 after acquiring an additional 134 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its holdings in shares of Cameco by 3.6% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 5,695 shares of the basic materials company’s stock valued at $521,000 after purchasing an additional 200 shares during the period. Kestra Private Wealth Services LLC raised its stake in shares of Cameco by 3.5% during the third quarter. Kestra Private Wealth Services LLC now owns 6,744 shares of the basic materials company’s stock valued at $566,000 after purchasing an additional 225 shares in the last quarter. United Capital Financial Advisors LLC lifted its holdings in Cameco by 5.3% in the third quarter. United Capital Financial Advisors LLC now owns 4,527 shares of the basic materials company’s stock worth $380,000 after purchasing an additional 227 shares during the period. Finally, Lido Advisors LLC grew its position in Cameco by 5.6% in the 3rd quarter. Lido Advisors LLC now owns 5,613 shares of the basic materials company’s stock valued at $471,000 after buying an additional 298 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

Cameco Company Profile

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.