Cameco (NYSE:CCJ) Releases Quarterly Earnings Results

Cameco (NYSE:CCJ) (TSE:CCO) released its earnings results on Friday. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07, Zacks reports. The company had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.Cameco’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share.

Here are the key takeaways from Cameco’s conference call:

• FY2025 results were strong — revenue ~CAD 3.5 billion (+11%), adjusted EBITDA ~CAD 1.9 billion (+26%) and adjusted net earnings ~CAD 630 million (+115%), with ~CAD 1.2 billion cash and CAD 1 billion debt underpinning a solid balance sheet.
• Westinghouse partnership and the U.S. government initiative (backed by at least US$80 billion) advances AP1000 deployments; Cameco expects its share of Westinghouse adjusted EBITDA of ~US$370–430M in 2026 and estimates roughly US$400–600M EBITDA per reactor (typically ordered in two?packs).
• Cameco is executing a disciplined contracting strategy — ending 2025 with ~230 million pounds of long?term commitments and ~28 million pounds/year committed over the next five years — deliberately preserving uncommitted supply to capture higher pricing as demand firming continues.
• Operationally, 2026 production guidance (19.5–21.5M lb consolidated; deliveries 29–32M lb) reflects paced ramps after McArthur River development delays, meaning near?term output may remain below previous design peaks until market signals justify acceleration.
• Fuel services momentum and technology upside — record UF6 production at Port Hope and a tight conversion market support pricing, while GLE achieved TRL?6 and is focused on DOE tails re?enrichment as a near?term commercial route.

Cameco Price Performance

CCJ stock traded down $3.29 during mid-day trading on Friday, reaching $113.10. 5,972,134 shares of the company traded hands, compared to its average volume of 4,863,261. Cameco has a 52-week low of $35.00 and a 52-week high of $135.24. The company has a market capitalization of $49.25 billion, a P/E ratio of 131.52 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The company has a fifty day moving average price of $106.43 and a 200-day moving average price of $91.85.

Key Headlines Impacting Cameco

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Q4 revenue and EPS beat expectations — Cameco reported roughly C$1.2B in Q4 revenue (above consensus) and EPS that topped estimates, highlighting solid execution across uranium, fuel services and Westinghouse segments. Cameco Q4 2025 Earnings Call Highlights
• Positive Sentiment: Quarterly metrics improved vs. prior year — revenue was up year-over-year and net margin/ROE showed profitability gains, supporting the narrative of disciplined supply strategy and operational leverage. Cameco fourth quarter results top analyst estimates
• Positive Sentiment: Heavy call-option buying indicates bullish speculative positioning — unusually large volume (~384,705 calls) was traded, suggesting some investors are positioning for upside after the print. Options Flow Report
• Neutral Sentiment: Full release, slide deck and call available — management provided a slide deck and conference-call materials that detail segment performance and medium-term strategy; useful for investors wanting to dig into guidance assumptions. Press Release / Slide Deck
• Negative Sentiment: FY2026 revenue guidance came in slightly below consensus — the company issued FY2026 revenue guidance around $2.2B–$2.4B (with wording that markets interpreted as cautious), which likely weighed on near-term sentiment despite the quarter beat. Cameco Announces 2025 Results (Business Wire)
• Negative Sentiment: Stock is trading lower with above-average volume — intraday weakness reflects investor caution around guidance and near-term prospects despite strong Q4 execution. Market Data

Institutional Investors Weigh In On Cameco

A number of institutional investors and hedge funds have recently made changes to their positions in CCJ. Kestra Advisory Services LLC raised its stake in Cameco by 2.7% in the fourth quarter. Kestra Advisory Services LLC now owns 125,684 shares of the basic materials company’s stock valued at $11,499,000 after purchasing an additional 3,348 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Cameco by 17.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,939 shares of the basic materials company’s stock valued at $177,000 after buying an additional 282 shares during the last quarter. Fortis Capital Management LLC grew its position in Cameco by 26.3% during the 4th quarter. Fortis Capital Management LLC now owns 3,429 shares of the basic materials company’s stock worth $314,000 after acquiring an additional 715 shares during the last quarter. Wright Wealth LLC purchased a new position in shares of Cameco in the fourth quarter worth $4,210,000. Finally, Marshall Wace LLP raised its stake in shares of Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after acquiring an additional 1,729,454 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CCJ. Weiss Ratings restated a “hold (c-)” rating on shares of Cameco in a report on Monday, December 29th. Zacks Research raised shares of Cameco from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. National Bank Financial reaffirmed an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Royal Bank Of Canada reduced their price objective on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Finally, Glj Research reissued a “buy” rating and issued a $99.74 target price on shares of Cameco in a research report on Wednesday, December 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Cameco currently has an average rating of “Buy” and an average price target of $131.39.

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.