Cameco (NYSE:CCJ) Shares Down 1.6% - What's Next?

Key Points

• Cameco shares fell 1.6% on Friday, giving back part of a recent rally as investors appeared to take profits across nuclear stocks. The stock traded as low as $116.05 and finished near $116.79.
• Analyst sentiment remains mostly positive: Scotiabank raised its FY2026 earnings estimate and kept an Outperform rating with a $175 target, while the broader analyst consensus is a Moderate Buy with an average target of $153.13.
• Recent fundamentals were solid, with Cameco reporting Q1 EPS of $0.34 versus $0.29 expected and revenue of $607.49 million, both topping estimates. The company also saw unusual call-buying activity, suggesting traders expect further upside or volatility.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's share price was down 1.6% on Friday . The company traded as low as $116.05 and last traded at $116.7890. Approximately 2,158,230 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 3,881,331 shares. The stock had previously closed at $118.71.

More Cameco News

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Scotiabank raised its FY2026 earnings estimate for Cameco to $1.07 per share from $0.89 and maintained an Outperform rating with a $175 price target, signaling continued confidence in the company’s longer-term earnings power.
• Neutral Sentiment: Unusual options activity showed heavy call buying in Cameco, with 384,705 call contracts purchased versus the typical 24,198, suggesting traders are positioning for more upside or volatility.
• Neutral Sentiment: Cameco announced the election of nine board members at its annual meeting, a routine governance update that is unlikely to materially affect fundamentals on its own. Cameco Announces Election of Directors
• Neutral Sentiment: Scotiabank also trimmed its FY2027 earnings estimate to $1.37 from $1.47, which softens the bullish tone a bit, though the firm still sees Cameco as an outperformer.
• Negative Sentiment: Cameco shares were pressured along with other nuclear names after a strong recent rally, as investors took profits following the sector’s explosive run-up. NANO Nuclear Slides 10%, Oklo Falls 8%, Cameco Slips 4% After Nuclear Stocks Explosive Rally

Analyst Ratings Changes

A number of brokerages have weighed in on CCJ. Zacks Research lowered Cameco from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 18th. Glj Research restated a "buy" rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Raymond James Financial reissued an "outperform" rating on shares of Cameco in a research note on Wednesday, January 14th. William Blair started coverage on shares of Cameco in a research report on Monday, April 20th. They set an "outperform" rating for the company. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $153.13.

Cameco Trading Down 1.6%

The firm has a market cap of $50.87 billion, a PE ratio of 108.14, a PEG ratio of 2.35 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 1.68. The business has a 50-day moving average price of $114.87 and a two-hundred day moving average price of $105.97.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. The firm had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 EPS. Analysts forecast that Cameco Corporation will post 1.17 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CCJ. Bison Wealth LLC increased its position in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock worth $1,102,000 after acquiring an additional 2,975 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock worth $393,000 after purchasing an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Cameco by 48.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock worth $349,000 after buying an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company's stock worth $24,895,000 after purchasing an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund acquired a new position in Cameco during the 2nd quarter valued at approximately $14,252,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.

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