Cameco (NYSE:CCJ) Issues Earnings Results, Misses Expectations By $0.13 EPS

Cameco (NYSE:CCJ) (TSE:CCO) announced its quarterly earnings results on Friday. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13), Zacks reports. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business had revenue of $573.06 million for the quarter, compared to analysts’ expectations of $579.58 million. During the same period last year, the company posted $0.71 earnings per share. The firm’s revenue for the quarter 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 Down 2.4%

NYSE:CCJ traded down $2.12 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 company has a 50-day moving average of $99.45 and a 200 day moving average of $109.91. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. 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. Cameco has a 12-month low of $68.96 and a 12-month high of $135.24.

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank Of Canada boosted their price objective on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. William Blair initiated coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Citigroup reissued a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco has a consensus rating of “Moderate Buy” and a consensus target price of $146.18.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its holdings in Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 307 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in Cameco during the 4th quarter worth approximately $28,000. Sunbelt Securities Inc. raised its position in shares of Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 325 shares in the last quarter. Greenline Wealth Management LLC acquired a new position in shares of Cameco in the 4th quarter valued at approximately $41,000. Finally, J.Safra Asset Management Corp purchased a new position in shares of Cameco during the 4th quarter valued at approximately $68,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco News Roundup

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.

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.