Cameco Corporation (CCJ) AI Stock Analysis

Cameco Corporation, based in Saskatoon, Canada, produces and globally distributes uranium through two main segments: Uranium and Fuel Services. The Uranium segment handles exploration, mining, milling, and the purchase and sale of uranium concentrate to supply utilities worldwide for nuclear power generation. The Fuel Services segment provides refining, conversion, and fabrication services for nuclear fuel production, manufacturing fuel bundles and reactor components tailored for CANDU reactors. Established in 1987, Cameco maintains an operational footprint across the Americas, Europe, and Asia to support nuclear energy facilities across the nuclear fuel cycle.

Between FY2021 and FY2025, Cameco increased revenue from $1.47B to $3.48B, representing a five-year revenue CAGR of 14.1%. Net income shifted from -$102.6M in FY2021 to $589.1M in FY2025, with net margin improving from -7.0% to 16.9%. Operating margin also expanded from -9.2% in FY2021 to 16.7% in FY2025. In the trailing twelve months, revenue reached $3.47B and EPS stood at $0.59. For the latest quarter ended June 30, 2026, quarterly revenue fell 7.2% year-over-year, while quarterly earnings dropped 92.1% year-over-year.

As of June 30, 2026, Cameco held $1.11B in cash and short-term investments against total debt of $1.01B, resulting in net cash of $103.9M. The company maintains a current ratio of 3.06 and a debt-to-equity ratio of 0.14 against shareholders' equity of $7.14B. In FY2025, operating cash flow was $1.41B, supporting capital expenditures of $333.0M and free cash flow of $1.08B. Cash uses in FY2025 included $104.5M in dividends paid, alongside $2.2M raised from share issuance.

Cameco trades at a trailing P/E of 138.2x and a forward P/E of 51.8x, compared to medians of 15.0x and 12.7x for its US-listed Energy peers. Its enterprise value of $39.56B translates to an EV/EBITDA of 65.6x, above the peer median of 8.0x, while its price-to-sales ratio is 10.2x versus the peer median of 1.8x. Over the past year, the stock fell 10.4%, lagging the S&P 500 return of 16.8%, though its five-year return of 230.3% outpaced the S&P 500 return of 83.0%.

Cameco pays an annual dividend with a forward rate of $0.17 per share, yielding 0.21% as of October 16, 2026. The dividend payout ratio is 15.0%, backed by 30 consecutive years of payments. Over the past five years, the dividend grew at an annualized rate of 23.0%, with the last ex-dividend date occurring on December 1, 2025.

Wall Street coverage consists of 11 Strong Buy, 8 Buy, and 2 Hold ratings, with no Sell or Strong Sell recommendations. The mean price target is $128.04, representing a 57.1% premium over the last close of $81.52. For the fiscal year ending December 31, 2026, consensus estimates project EPS of $1.45 on revenue of $3.48B, followed by FY2027 estimates of $2.60 EPS and $3.98B revenue. Cameco exceeded EPS expectations in 2 of the past 4 quarters and is scheduled to report earnings on October 30, 2026.

This page is an AI-written research summary of Cameco Corporation (CCJ). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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