Cameco (NYSE:CCJ) Shares Up 1.6% - Still a Buy?

Key Points

• Cameco shares rose 1.6% on Tuesday, trading as high as $93 and ending near $91.68, with volume running above average.
• Despite some near-term concerns, the company still has bullish analyst support: 13 analysts rate it a Buy, with a consensus Moderate Buy and an average price target of $146.52.
• The article notes mixed sentiment around the stock, including optimism about Cameco’s long-term nuclear growth and diversification, but also worries about the Cigar Lake suspension, valuation, and unusual put buying.

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO rose 1.6% on Tuesday . The stock traded as high as $93.00 and last traded at $91.6760. Approximately 4,058,588 shares traded hands during mid-day trading, an increase of 10% from the average session volume of 3,680,489 shares. The stock had previously closed at $90.20.

Key Headlines Impacting Cameco

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Some recent commentary remains constructive on Cameco’s long-term setup, citing its diversification beyond uranium mining through Westinghouse and Fuel Services, plus strong prior-quarter results that showed solid production and improving EBITDA. Cameco Q2 Preview: Earnings Could Restart The Nuclear Rally
• Positive Sentiment: Sell-side analysts remain mostly bullish overall, with recent price targets still well above the current trading range, suggesting the market may be discounting Cameco’s longer-term earnings power. Quiver Quantitative article
• Neutral Sentiment: A Zacks comparison article argued that Energy Fuels may be the stronger uranium opportunity today versus Cameco, mainly due to faster growth in uranium and rare earths, which adds a competitive narrative but does not directly change Cameco’s fundamentals. UUUU vs. CCJ: Which Uranium Stock Offers the Better Opportunity Today?
• Neutral Sentiment: One Seeking Alpha piece said Wall Street may be paying too much for Cameco’s nuclear growth story, reflecting valuation skepticism rather than a new business setback. Cameco: Wall Street Is Paying Too Much For A Nuclear Dream
• Negative Sentiment: Investor concern has increased after Cameco’s temporary Cigar Lake mining suspension and related processing issues at Orano’s McClean Lake mill raised questions about near-term production reliability. Cameco Falls as Investors Weigh Mine Disruption and Softer Uranium Sentiment
• Negative Sentiment: Trading activity also showed caution, with unusual put buying in Cameco options and recent articles highlighting a larger-than-market drop, signaling hedging or downside bets by some investors. Cameco (CCJ) Suffers a Larger Drop Than the General Market: Key Insights

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. TD Securities lowered Cameco from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Truist Financial initiated coverage on shares of Cameco in a research note on Monday. They issued a "buy" rating and a $129.00 price target for the company. Weiss Ratings lowered shares of Cameco from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 4th. Barclays initiated coverage on shares of Cameco in a report on Thursday, May 21st. They issued an "equal weight" rating and a $108.00 price objective on the stock. Finally, Bank of America decreased their target price on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $146.52.

Cameco Price Performance

The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average price of $106.19 and a two-hundred day moving average price of $110.92. The stock has a market capitalization of $39.93 billion, a P/E ratio of 84.89, a P/E/G ratio of 1.69 and a beta of 1.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.05. The company had revenue of $607.49 million for the quarter, compared to analysts' expectations of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. Cameco's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 EPS. On average, analysts expect that Cameco Corporation will post 1.2 EPS for the current year.

Institutional Investors Weigh In On Cameco

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Cameco by 6.2% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 6,647 shares of the basic materials company's stock worth $677,000 after acquiring an additional 389 shares during the last quarter. Contravisory Investment Management Inc. increased its holdings in shares of Cameco by 2,229.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 71,788 shares of the basic materials company's stock worth $7,312,000 after purchasing an additional 68,706 shares in the last quarter. Vertrix Wealth Management LLC purchased a new position in shares of Cameco in the second quarter worth $567,000. Chemistry Wealth Management LLC lifted its holdings in shares of Cameco by 13.4% during the second quarter. Chemistry Wealth Management LLC now owns 3,402 shares of the basic materials company's stock valued at $347,000 after purchasing an additional 402 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Cameco by 12.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 27,761 shares of the basic materials company's stock valued at $2,828,000 after purchasing an additional 3,014 shares in the last quarter. Institutional investors own 70.21% of the company's stock.

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.

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