Scotiabank Has Optimistic Outlook of Cameco FY2026 Earnings

Key Points

• Scotiabank raised its FY2026 EPS estimate for Cameco to $1.46 from $1.21 and keeps an "Outperform" rating with a $150.00 target price.
• Several other brokers have lifted price targets and ratings, leaving a consensus rating of "Moderate Buy" and a consensus price target of C$176.19.
• Cameco reported Q earnings of C$0.47 with C$845.37M revenue; the stock opened at C$162.16 (down ~3.9%) and trades at a high P/E of 120.12.

Cameco Co. (TSE:CCO - Free Report) NYSE: CCJ - Equities researchers at Scotiabank upped their FY2026 earnings estimates for Cameco in a note issued to investors on Wednesday, May 6th. Scotiabank analyst O. Wowkodaw now anticipates that the company will post earnings of $1.46 per share for the year, up from their previous forecast of $1.21. Scotiabank currently has a "Outperform" rating and a $150.00 target price on the stock.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$0.47 EPS for the quarter. Cameco had a net margin of 18.39% and a return on equity of 9.47%. The company had revenue of C$845.37 million for the quarter.

A number of other equities analysts have also commented on CCO. Raymond James Financial raised their price target on Cameco from C$175.00 to C$180.00 and gave the stock an "outperform" rating in a report on Tuesday, March 3rd. Royal Bank Of Canada boosted their price objective on Cameco from C$150.00 to C$160.00 and gave the company an "outperform" rating in a research note on Tuesday, February 17th. Stifel Nicolaus increased their price objective on Cameco from C$165.00 to C$180.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. William Blair upgraded Cameco to a "strong-buy" rating in a research note on Monday, April 20th. Finally, Desjardins lifted their target price on Cameco from C$185.00 to C$190.00 and gave the company a "buy" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$176.19.

Cameco Trading Down 3.9%

Shares of CCO stock opened at C$162.16 on Friday. The stock has a market capitalization of C$70.63 billion, a price-to-earnings ratio of 120.12, a PEG ratio of 2.22 and a beta of 0.76. The company's fifty day simple moving average is C$157.70 and its two-hundred day simple moving average is C$146.15. Cameco has a 1 year low of C$67.96 and a 1 year high of C$182.72. The company has a debt-to-equity ratio of 14.11, a current ratio of 3.08 and a quick ratio of 3.74.

Cameco Company Profile

Cameco is one of the world's largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.

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