FY2026 Earnings Forecast for Cameco Issued By Scotiabank

Key Points

• Scotiabank lowered its FY2026 EPS estimate for Cameco to $1.04 from $1.07, while maintaining an Outperform rating and a $175 price target. The new forecast is still below the broader consensus estimate of $1.21 per share.
• Cameco’s latest quarterly results beat expectations, with EPS of $0.34 versus the $0.29 consensus and revenue of $607.49 million versus $598.63 million expected. Revenue also rose 7.1% year over year.
• Analyst sentiment remains constructive overall, with 11 Buy ratings and 5 Hold ratings and a consensus rating of Moderate Buy. The average price target stands at $148.92.

Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO - Equities research analysts at Scotiabank dropped their FY2026 EPS estimates for Cameco in a report issued on Tuesday, July 7th. Scotiabank analyst O. Wowkodaw now expects that the basic materials company will earn $1.04 per share for the year, down from their prior forecast of $1.07. Scotiabank has a "Outperform" rating and a $175.00 price target on the stock. The consensus estimate for Cameco's current full-year earnings is $1.21 per share.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued 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 business had revenue of $607.49 million for 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 business's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 earnings per share.

Other analysts have also recently issued reports about the stock. William Blair assumed coverage on shares of Cameco in a research note on Monday, April 20th. They issued an "outperform" rating for the company. Barclays assumed coverage on shares of Cameco in a report on Thursday, May 21st. They issued an "equal weight" rating and a $108.00 price target for the company. TD Securities downgraded shares of Cameco from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Royal Bank Of Canada boosted their price objective on shares of Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a report on Monday, June 29th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.92.

Cameco Stock Performance

CCJ opened at $94.86 on Thursday. The company has a market cap of $41.32 billion, a P/E ratio of 87.84, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. 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's 50-day moving average price is $107.62 and its 200-day moving average price is $110.87. Cameco has a 52-week low of $68.96 and a 52-week high of $135.24.

Institutional Trading of Cameco

Large investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. lifted its position in 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 during the period. Valeo Financial Advisors LLC raised its stake in shares of Cameco by 4.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,227 shares of the basic materials company's stock valued at $329,000 after buying an additional 150 shares during the last quarter. Renaissance Investment Group LLC raised its stake in shares of Cameco by 2.4% during the 2nd quarter. Renaissance Investment Group LLC now owns 62,815 shares of the basic materials company's stock valued at $6,398,000 after buying an additional 1,450 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Cameco by 5.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 17,235 shares of the basic materials company's stock valued at $1,756,000 after buying an additional 934 shares during the period. Finally, Apella Capital LLC acquired a new position in shares of Cameco in the 2nd quarter valued at about $419,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

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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