Cameco (NYSE:CCJ) Trading Up 8.5% - Time to Buy?

Key Points

• Shares of Cameco jumped 8.5% intraday to about $126.48 on Wednesday, with roughly 3.8 million shares traded (slightly below average) after a prior close of $116.61.
• Analyst sentiment has turned more positive—William Blair initiated coverage with an Outperform, the consensus rating is a Moderate Buy with an average price target of $150.40, and some firms (CIBC) have raised targets as high as $202.
• Cameco reported quarterly beats (EPS $0.36 vs. $0.29 and revenue $874.6M vs. $782.1M), but the stock carries a rich valuation (market cap ~ $55B, PE ~130) and faces recent volatility and minor FY2027 estimate downgrades, suggesting measured caution.

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO rose 8.5% during mid-day trading on Wednesday . The stock traded as high as $126.60 and last traded at $126.4750. Approximately 3,808,962 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 3,999,233 shares. The stock had previously closed at $116.61.

Cameco News Roundup

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: William Blair initiated coverage with an "Outperform" (fresh institutional support and new coverage can attract demand). William Blair initiates coverage
• Positive Sentiment: Scotiabank raised its FY2026 EPS estimate slightly (to $0.89 from $0.88), a small upward revision that supports near-term earnings optimism for the year.
• Positive Sentiment: Brokerage consensus remains favorable—coverage summary shows an average "Moderate Buy," which reinforces demand from investors following analyst guidance. Brokerage consensus Moderate Buy
• Positive Sentiment: Bullish commentary from market writers highlights Cameco as a buy on pullbacks (articles suggesting accumulation under ~$120 can trigger tactical buying). Seeking Alpha buy thesis
• Neutral Sentiment: Relative-valuation and strategic comparisons to smaller peers (e.g., Energy Fuels / UUUU) highlight tradeoffs: Cameco offers scale and stability vs. higher growth potential in smaller names—useful for positioning but not an immediate catalyst. CCJ vs UUUU comparison
• Negative Sentiment: Scotiabank trimmed its FY2027 EPS forecast slightly (from $1.48 to $1.47), a small downgrade that could temper longer-term upside expectations.
• Negative Sentiment: Recent volatility included a notable drop on April 21 (reported as a larger-than-market decline), indicating short-term selling pressure preceded today's rebound. Zacks: larger drop

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Canadian Imperial Bank of Commerce increased their price target on Cameco to $202.00 in a research note on Monday, March 9th. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a report on Wednesday, January 14th. Weiss Ratings upgraded Cameco from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. The Goldman Sachs Group reissued a "buy" rating and issued a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Finally, TD Securities cut shares of Cameco from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cameco has a consensus rating of "Moderate Buy" and a consensus price target of $150.40.

Cameco Trading Up 8.5%

The company has a 50-day moving average of $114.17 and a 200 day moving average of $103.74. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. The company has a market cap of $55.08 billion, a PE ratio of 130.39 and a beta of 1.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. The business had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The company's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 earnings per share. Analysts predict that Cameco Corporation will post 1.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CCJ. Clearstead Advisors LLC lifted its holdings in shares of Cameco by 0.8% in the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company's stock worth $929,000 after acquiring an additional 85 shares during the last quarter. Legacy Bridge LLC grew its holdings in Cameco by 0.9% during the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company's stock valued at $1,053,000 after purchasing an additional 100 shares during the last quarter. Groupama Asset Managment raised its position in Cameco by 5.9% in the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company's stock worth $176,000 after purchasing an additional 108 shares during the period. S.A. Mason LLC raised its position in Cameco by 4.8% in the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company's stock worth $223,000 after purchasing an additional 111 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Cameco by 19.9% in the fourth quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company's stock worth $62,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 70.21% of the company's stock.

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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