Scotiabank Has Negative Estimate for Cameco FY2026 Earnings

Key Points

• Scotiabank cut its FY2026 EPS forecast for Cameco to $0.64 from $0.85, below the analyst consensus of $0.98; it forecasts FY2027 EPS of $1.29.
• Analyst views remain mixed: Cameco has a “Moderate Buy” consensus rating and an average price target of $147.38, though Barclays lowered its target to $89 and other firms have issued cautious ratings.
• Cameco shares opened at $68.41, near their 52-week low of $66.06 and well below their 52-week high of $135.24. Recent coverage points to an earnings miss, lower uranium sales and a reduced outlook as near-term pressures.

Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO - Scotiabank cut their FY2026 EPS estimates for Cameco in a research note issued to investors on Monday, November 2nd. Scotiabank analyst O. Wowkodaw now expects that the basic materials company will post earnings of $0.64 per share for the year, down from their previous forecast of $0.85. The consensus estimate for Cameco's current full-year earnings is $0.98 per share. Scotiabank also issued estimates for Cameco's FY2027 earnings at $1.29 EPS.

Several other brokerages also recently issued reports on CCJ. Jefferies Financial Group assumed coverage on Cameco in a report on Thursday, September 3rd. They issued a "buy" rating and a $138.00 price target on the stock. Barclays cut their target price on Cameco from $95.00 to $89.00 and set an "equal weight" rating on the stock in a research note on Monday. Wall Street Zen downgraded shares of Cameco from a "hold" rating to a "sell" rating in a report on Saturday, September 19th. Bank of America reduced their price target on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of Cameco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $147.38.

Cameco Price Performance

Shares of NYSE:CCJ opened at $68.41 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.55 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $87.96 and a 200 day simple moving average of $103.37. Cameco has a fifty-two week low of $66.06 and a fifty-two week high of $135.24. The company has a market cap of $29.79 billion, a PE ratio of 103.65, a P/E/G ratio of 1.59 and a beta of 1.18.

Institutional Trading of Cameco

Several large investors have recently added to or reduced their stakes in the company. HB Wealth Management LLC boosted its holdings in Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company's stock valued at $387,000 after purchasing an additional 107 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of Cameco by 0.8% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,123 shares of the basic materials company's stock worth $1,540,000 after purchasing an additional 125 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Cameco by 4.1% during the 1st quarter. QRG Capital Management Inc. now owns 3,414 shares of the basic materials company's stock worth $371,000 after purchasing an additional 134 shares during the period. Novem Group raised its position in shares of Cameco by 5.1% during the third quarter. Novem Group now owns 2,854 shares of the basic materials company's stock valued at $247,000 after buying an additional 138 shares during the last quarter. Finally, Montag A & Associates Inc. raised its position in shares of Cameco by 7.8% during the first quarter. Montag A & Associates Inc. now owns 1,940 shares of the basic materials company's stock valued at $211,000 after buying an additional 140 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a dividend of C$0.24 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a dividend yield of 22.0%. Cameco's dividend payout ratio (DPR) is currently 24.24%.

Key Stories Impacting Cameco

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Zacks Research upgraded Cameco from “strong sell” to “hold,” a modest improvement in its view of the stock. Tickerreport article
• Positive Sentiment: On its earnings call, Cameco highlighted disciplined uranium pricing, tight nuclear-fuel supplies and potential growth from Westinghouse—factors that could support its longer-term outlook. The company also noted higher costs and weaker quarterly earnings. Cameco Q3 earnings call highlights
• Neutral Sentiment: Cameco filed a technical report for its McArthur River operation. The filing provides operational information, but the report’s market impact is unclear from the available coverage. Cameco document filing
• Negative Sentiment: Recent coverage cites a third-quarter earnings miss, lower uranium sales and a reduced 2026 outlook as near-term pressures on the shares. Cameco outlook after Q3 earnings
• Negative Sentiment: Barclays cut its price target for Cameco, adding to cautious sentiment. The available report did not specify the revised target. Barclays price-target report

Cameco Company Profile

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco's principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.

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