Cameco (NYSE:CCJ) Stock Price Up 8.1% Following Earnings Beat

Key Points

• Cameco shares jumped 8.1% after the company beat estimates with Q1 EPS of $0.34 versus $0.29 expected and revenue of $607.5M (up 7.1% year-over-year).
• Analyst and institutional support is bolstering the stock — Scotiabank raised its target to $175, Stifel maintained a C$180 target, and major investors (Vanguard, Capital World, VanEck, Morgan Stanley) increased holdings; the MarketBeat average target is $153.13.
• That upside comes with risk: Cameco’s trailing P/E is elevated at about 127.6 and the company reiterated annual guidance, which could limit near-term gains or increase volatility if uranium/contract dynamics weaken.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO rose 8.1% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $124.57 and last traded at $123.7320. Approximately 3,760,285 shares were traded during trading, a decline of 4% from the average daily volume of 3,909,174 shares. The stock had previously closed at $114.46.

The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million during the quarter, compared to analysts' expectations of $598.63 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share.

Trending Headlines about Cameco

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Cameco reported Q1 EPS of $0.34 and revenue of $607.5M, both above estimates, with materials and slide-deck details reinforcing operational execution — the core earnings beat is the primary catalyst. Cameco (CCJ) Beats Q1 Earnings and Revenue Estimates
• Positive Sentiment: Scotiabank raised its Cameco price target to $175 and cited accelerating demand for nuclear power—this fresh analyst confidence supports near-term upside. Scotiabank Just Hiked Cameco Price Target to $175
• Positive Sentiment: Stifel Canada reiterated a Buy and kept a C$180 target after the quarter, adding institutional support to the stock’s upward move. Cameco Maintained at Buy at Stifel Canada Following Q1 Results; Price Target Kept at C$180
• Positive Sentiment: Independent coverage and upgrades (Seeking Alpha pieces) highlight Cameco’s vertical integration, Westinghouse stake and favorable long-term uranium dynamics — reinforcing the bullish investment thesis. Cameco Corporation: Robust Q1 Results And An Attractive Valuation (Rating Upgrade)
• Neutral Sentiment: Cameco reiterated annual guidance (company says results are consistent with expectations); maintaining guidance reduces downside surprises but offers limited new upside. Cameco Reports First Quarter 2026 Results
• Neutral Sentiment: Company released the earnings slide deck and call materials for investors to review underlying metrics and segment performance (useful for due diligence). Cameco Corporation 2026 Q1 - Results - Earnings Call Presentation
• Negative Sentiment: Valuation is extended after recent gains (high trailing P/E), which could limit near-term upside or increase volatility if uranium/contract dynamics disappoint; investors should weigh price versus fundamentals before adding.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Raymond James Financial reissued an "outperform" rating on shares of Cameco in a research report on Wednesday, January 14th. Zacks Research lowered Cameco from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 18th. William Blair assumed coverage on Cameco in a research note on Monday, April 20th. They issued an "outperform" rating on the stock. TD Securities lowered Cameco from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. Finally, Canadian Imperial Bank of Commerce upped their target price on Cameco to $202.00 in a research report on Monday, March 9th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $153.13.

Hedge Funds Weigh In On Cameco

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company's stock valued at $1,653,639,000 after buying an additional 258,193 shares during the last quarter. Capital World Investors lifted its holdings in shares of Cameco by 0.3% during the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company's stock worth $1,240,047,000 after buying an additional 41,430 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Cameco by 0.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company's stock valued at $1,089,080,000 after acquiring an additional 85,762 shares during the period. Van ECK Associates Corp boosted its position in shares of Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company's stock valued at $575,771,000 after acquiring an additional 849,188 shares during the period. Finally, Morgan Stanley grew its stake in shares of Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company's stock worth $455,468,000 after acquiring an additional 323,693 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Price Performance

The firm has a market cap of $53.89 billion, a P/E ratio of 127.56, a price-to-earnings-growth ratio of 2.19 and a beta of 1.04. The stock's 50-day moving average is $114.81 and its 200-day moving average is $105.52. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14.

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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