What is Scotiabank's Estimate for Cameco FY2026 Earnings?

Key Points

• Scotiabank raised its FY2026 EPS estimate for Cameco to $1.07 (from $0.89) and maintained an "Outperform" rating with a $175 price target, citing accelerating demand for nuclear power.
• Cameco beat Q1 expectations, reporting $0.34 EPS versus a $0.29 consensus and revenue of $607.49M versus $598.63M, with solid margins and year-over-year revenue growth.
• Scotiabank's FY2026 view of $1.07 remains below the market consensus of $1.17, and the bank trimmed its FY2027 EPS estimate to $1.37 from $1.47.

Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO - Research analysts at Scotiabank upped their FY2026 earnings per share (EPS) estimates for shares of Cameco in a research note issued on Wednesday, May 6th. Scotiabank analyst O. Wowkodaw now forecasts that the basic materials company will earn $1.07 per share for the year, up from their prior forecast of $0.89. Scotiabank currently has a "Outperform" rating and a $175.00 target price on the stock. The consensus estimate for Cameco's current full-year earnings is $1.17 per share.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same quarter in the prior year, the company earned $0.16 EPS. The firm's quarterly revenue was up 7.1% compared to the same quarter last year.

Several other equities research analysts also recently commented on the stock. Zacks Research downgraded shares of Cameco from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 18th. William Blair started coverage on shares of Cameco in a report on Monday, April 20th. They set an "outperform" rating on the stock. Royal Bank Of Canada upped their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. Glj Research restated a "buy" rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Cameco has an average rating of "Moderate Buy" and a consensus target price of $153.13.

Cameco Price Performance

NYSE CCJ opened at $118.73 on Friday. The company has a market cap of $51.71 billion, a PE ratio of 109.93, a price-to-earnings-growth ratio of 2.35 and a beta of 1.04. Cameco has a 52 week low of $48.81 and a 52 week high of $135.24. The company has a quick ratio of 1.68, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The firm's 50-day simple moving average is $114.87 and its two-hundred day simple moving average is $105.97.

Institutional Investors Weigh In On Cameco

Several institutional investors have recently made changes to their positions in the stock. Clearstead Advisors LLC lifted its position in shares of Cameco by 0.8% during the fourth 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 in the last quarter. Legacy Bridge LLC lifted its position in shares of Cameco by 0.9% during the fourth quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company's stock worth $1,053,000 after acquiring an additional 100 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of Cameco by 3.1% during the first quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company's stock worth $387,000 after acquiring an additional 107 shares in the last quarter. Groupama Asset Managment increased its holdings in shares of Cameco by 5.9% in the fourth 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. Finally, S.A. Mason LLC increased its holdings in shares of Cameco by 4.8% in the fourth 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. Hedge funds and other institutional investors own 70.21% of the company's stock.

More Cameco News

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Unusual options activity — about 384,705 call options were purchased on Thursday (roughly a 1,490% jump vs. typical call volume). Large call volume can signal institutional or directional bullish bets and adds short-term upside pressure and liquidity to the name.
• Positive Sentiment: Scotiabank raised Cameco’s price target to $175, citing accelerating demand for nuclear and supportive fundamentals—this provides a high-profile buy-side endorsement that can attract investors. Scotiabank Just Hiked Cameco Price Target to $175
• Positive Sentiment: Stifel Canada maintained a Buy rating and kept a C$180 target after Q1 results — continued analyst conviction and an unchanged target support investor confidence. Cameco Maintained at Buy at Stifel Canada Following Q1 Results; Price Target Kept at C$180
• Positive Sentiment: Multiple bullish write-ups and analyst commentary highlight Cameco’s strong Q1, vertical integration (including Westinghouse stake), and favorable long-term uranium dynamics—narrative tailwinds for longer-term investors. The World Is Going Nuclear And Cameco Is Ready
• Neutral Sentiment: Corporate governance update — Cameco elected nine directors at its May 7 annual meeting (full slate re-elected). This is routine but keeps leadership stable. Cameco Announces Election of Directors
• Neutral Sentiment: Investor/analyst call transcript published — useful for detail on guidance and strategy but not an immediate catalyst by itself. Cameco Corporation Shareholder/Analyst Call Prepared Remarks Transcript
• Negative Sentiment: Scotiabank trimmed its FY2027 EPS estimate (from $1.47 to $1.37) in a research note—an earnings downgrade can temper near-term expectations even if the firm remains constructive overall.
• Negative Sentiment: Short-term sector pullback — Cameco slipped after a volatile rally in nuclear names, reflecting profit-taking and rotation that can pressure the share price despite positive fundamental headlines. NANO Nuclear Slides 10%, Oklo Falls 8%, Cameco Slips 4% After Nuclear Stocks Explosive Rally

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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