Cameco (CCO) AI Stock Analysis

• Market Cap: C$64.86B
• Dividend Yield: 0.11%
• Average Volume (3M): 1.32M
• Price to Earnings (P/E): 121.6
• Beta (1Y): 1.93
• Revenue Growth: 34.68%
• EPS Growth: 106.82%
• Country: CA
• Employees: 730
• Sector: Energy
• Sector Strength: 52
• Industry: Uranium
• EPS (TTM): 0.71
• Shares Outstanding: 435,387,450
• 10 Day Avg. Volume: 1,188,592
• 30 Day Avg. Volume: 1,319,088
• PEG Ratio: -3.61
• Price to Book (P/B): 5.05
• Price to Sales (P/S): 10.25
• P/FCF Ratio: 46.34
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$130.52
• Price Target Upside: -12.39% Downside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 15

• Rating: 71 Outperform
• Price Target: C$129.00 ▼(-13.41% Downside)

Cameco's strong financial performance and strategic positioning in the nuclear market are the most significant factors driving its stock score. However, the high P/E ratio suggests overvaluation, and technical indicators present mixed signals. Despite these challenges, the company's robust cash flow and strategic opportunities in the nuclear sector provide a positive outlook.

Positive Factors

Revenue Growth

Cameco's consistent revenue growth reflects its strong market position and ability to capitalize on increasing demand for nuclear energy, supporting long-term financial stability.

Strategic Positioning

Cameco's strategic positioning in the nuclear market ensures it remains a critical supplier, benefiting from global nuclear energy trends and long-term demand.

Strong Balance Sheet

A robust balance sheet with ample liquidity and low leverage provides Cameco with financial flexibility to invest in growth opportunities and weather industry challenges.

Negative Factors

Production Risks

Production risks at key sites could impact Cameco's ability to meet output targets, affecting revenue and operational efficiency in the long term.

Uranium Market Demand Uncertainty

Uncertainty in uranium market demand and contracting could lead to supply-demand imbalances, impacting Cameco's future sales and pricing power.

Transportation Uncertainty

Transportation and geopolitical risks affecting JV Inkai deliveries could disrupt supply chains, impacting Cameco's ability to fulfill contracts and maintain revenue streams.

Cameco Business Overview & Revenue Model

Company Description

Cameco Corporation produces and sells uranium. It operates through two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services. This segment also produces fuel bundles or reactor components for CANDU reactors. The company sells its uranium and fuel services to nuclear utilities in the Americas, Europe, and Asia. Cameco Corporation was incorporated in 1987 and is headquartered in Saskatoon, Canada.

How the Company Makes Money

Cameco generates revenue primarily through the sale of uranium and conversion services. Its key revenue streams include long-term contracts with utilities, spot market sales of uranium, and revenues from its joint ventures and partnerships in uranium mining. The company benefits from long-term supply agreements, which provide stable cash flow and mitigate market volatility. Additionally, Cameco engages in strategic partnerships and joint ventures to enhance its production capabilities and reduce operational risks. Factors contributing to its earnings include global demand for nuclear energy, regulatory frameworks supporting nuclear power, and fluctuations in uranium prices.

Cameco Financial Statement Overview

Summary

Cameco demonstrates strong financial health with robust growth and profitability in its income statement, a stable balance sheet with low leverage, and excellent cash generation capabilities. The company is well-positioned for continued growth and stability in the uranium industry.

Income Statement

Cameco's income statement shows strong revenue growth with an 8.46% increase in TTM, supported by a solid gross profit margin of 29.47%. The net profit margin improved significantly to 14.94%, indicating enhanced profitability. EBIT and EBITDA margins are robust at 22.75% and 31.39% respectively, reflecting efficient operations. Overall, the company demonstrates strong growth and profitability trends.

Balance Sheet

The balance sheet is stable with a low debt-to-equity ratio of 0.15, indicating conservative leverage. Return on equity is moderate at 8.27%, showing decent profitability relative to equity. The equity ratio stands at 70.36%, highlighting a strong equity base. The company maintains a healthy financial position with manageable debt levels.

Cash Flow

Cameco's cash flow statement shows a significant free cash flow growth of 33.36% in TTM, indicating strong cash generation capabilities. The operating cash flow to net income ratio is high at 1.90, suggesting efficient cash conversion. The free cash flow to net income ratio of 0.78 further supports the company's ability to generate cash relative to its earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.57B	3.14B	2.59B	1.87B	1.47B	1.80B
Gross Profit	1.27B	1.06B	781.99M	410.67M	232.71M	370.09M
EBITDA	956.15M	789.34M	502.89M	196.32M	96.50M	184.21M
Net Income	533.55M	171.85M	360.85M	89.38M	-102.58M	-53.17M
Balance Sheet
Total Assets	9.58B	9.91B	9.93B	8.63B	7.52B	7.58B
Cash, Cash Equivalents and Short-Term Investments	716.29M	600.46M	566.81M	2.28B	1.33B	943.37M
Total Debt	1.01B	1.30B	1.79B	1.08B	1.02B	1.01B
Total Liabilities	2.84B	3.54B	3.84B	2.80B	2.67B	2.62B
Stockholders Equity	6.74B	6.36B	6.09B	5.84B	4.85B	4.96B
Cash Flow
Free Cash Flow	836.14M	604.84M	493.71M	122.30M	320.53M	-86.12M
Operating Cash Flow	1.09B	816.47M	647.34M	265.75M	419.31M	-8.66M
Investing Cash Flow	-257.92M	-206.44M	-2.04B	-1.29B	-80.30M	-101.03M
Financing Cash Flow	-491.72M	-599.60M	789.61M	908.11M	-7.79M	-32.44M

Cameco Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 148.98
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CCO, the sentiment is Positive. The current price of 148.98 is above the 20-day moving average (MA) of 122.53, above the 50-day MA of 114.76, and above the 200-day MA of 87.13, indicating a bullish trend. The MACD of 3.96 indicates Negative momentum. The RSI at 74.51 is Negative, neither overbought nor oversold. The STOCH value of 55.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:CCO.

Cameco Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CCO	―	C$64.86B	121.56	8.09%	0.11%	34.68%	106.82%
Sector *	―	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
NXE	―	$7.05B	-35.99	-17.01%	―	―	-318.29%
DML	―	$3.85B	―	-14.63%	―	―	―
URC	―	$760.40M	339.81	-0.66%	―	14.29%	-116.45%
SASK	―	C$199.82M	―	-4.56%	―	―	72.48%
EU	―	C$785.84M	-8.77	-22.78%	―	29.59%	-86.53%

Cameco Corporate Events

Cameco Secures Long-Term UF6 Supply Deal with Slovenské elektrárne

Cameco Corporation announced on September 12, 2025, a new long-term agreement to supply natural uranium hexafluoride (UF6) to Slovenské elektrárne for its nuclear power plants in Slovakia, effective through 2036. This agreement marks a strategic addition to Cameco’s global commercial portfolio, enhancing energy security in Slovakia by providing a stable and reliable supply of uranium fuel. The deal is significant for Slovenské elektrárne as it diversifies its suppliers and reduces dependency on a single source, ensuring the smooth operation of its nuclear facilities.

The most recent analyst rating on (TSE:CCO) stock is a Buy with a C$102.00 price target. To see the full list of analyst forecasts on Cameco stock, see the TSE:CCO Stock Forecast page.

Cameco Secures Long-Term Uranium Supply Deal with Slovenské elektrárne

Cameco has entered into a long-term agreement to supply natural uranium hexafluoride (UF6) to Slovenské elektrárne for its nuclear power plants in Slovakia, expected to last until 2036. This agreement marks a strategic move for Cameco, expanding its market reach and enhancing energy security in Slovakia by providing a stable and reliable supply of uranium fuel, which is crucial for the country’s nuclear power operations.

The most recent analyst rating on (TSE:CCO) stock is a Buy with a C$102.00 price target. To see the full list of analyst forecasts on Cameco stock, see the TSE:CCO Stock Forecast page.

Cameco Adjusts 2025 Production Forecast Amid McArthur River Delays

Cameco announced a revision to its 2025 production plans due to development delays at the McArthur River mine, which are expected to impact its production forecast. However, strong performance at the Cigar Lake mine may partially offset this shortfall. The company remains strategically positioned to manage these disruptions and meet delivery commitments, with options to source uranium through various means, including inventory and spot market purchases. This flexibility, combined with favorable market prices, positions Cameco to potentially benefit from increased uranium value in the future.

The most recent analyst rating on (TSE:CCO) stock is a Buy with a C$115.00 price target. To see the full list of analyst forecasts on Cameco stock, see the TSE:CCO Stock Forecast page.

Cameco’s Earnings Call: Positive Outlook Amid Challenges

Cameco’s recent earnings call conveyed a slightly positive sentiment, underscored by strong financial performance and promising opportunities in the global nuclear expansion, particularly through its partnership with Westinghouse. Despite these positive aspects, the company acknowledged operational risks and challenges, especially in production and transportation, which need careful management. Overall, the sentiment leans towards optimism due to the outweighing opportunities and Cameco’s robust market position.

Cameco Reports Strong Q2 Earnings, Positive Outlook

Cameco Corporation is a leading global provider of uranium fuel, essential for nuclear power generation, with significant investments in the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company. The company is headquartered in Saskatoon, Saskatchewan, Canada, and its shares are traded on the Toronto and New York stock exchanges.

Cameco Reports Strong Q2 2025 Results, Boosted by Westinghouse Investment

Cameco reported strong financial results for Q2 2025, with significant earnings growth driven by its uranium, fuel services, and Westinghouse segments. The company’s long-term contracting strategy and investment in Westinghouse, particularly in the Czech Republic’s Dukovany power plant project, have improved its 2025 outlook. Cameco’s integrated strategy and market positioning are expected to capitalize on the growing global support for nuclear energy, enhancing its operational plans and future growth opportunities.

The most recent analyst rating on (TSE:CCO) stock is a Buy with a C$52.00 price target. To see the full list of analyst forecasts on Cameco stock, see the TSE:CCO Stock Forecast page.