Cameco (NYSE:CCJ) Posts Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Cameco (NYSE:CCJ) (TSE:CCO) issued its quarterly earnings results on Friday. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.13), Briefing.com reports. Cameco had a return on equity of 7.59% and a net margin of 10.20%. The business’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 earnings per share.

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

• Negative Sentiment: Cameco reported lower third-quarter and nine-month results year over year, primarily due to the planned Key Lake mill outage, lower production, higher costs, inflation, and the absence of a prior-year Westinghouse payment.
• Neutral Sentiment: The company narrowed 2026 uranium production guidance to 19.5–20.5 million pounds and delivery guidance to 29.5–30.5 million pounds, while raising expected direct administrative and average unit costs; full-year capital spending is now expected to be lower because some projects were deferred.
• Positive Sentiment: Management described uranium contracting as increasingly constructive, citing market discussions involving escalated floors in the mid-to-high $70s, ceilings near $160, and three-digit base prices, while maintaining a disciplined approach to adding volumes.
• Positive Sentiment: Cameco remains highly optimistic about nuclear expansion, including potential U.S. and Korean AP1000 projects, and believes constrained Western fuel-cycle capacity, reactor life extensions, restarts, and new builds support long-term demand for its uranium, conversion, fuel services, and Westinghouse businesses.
• Neutral Sentiment: CFO Heidi Shockey plans to retire at the end of March 2027, with Treasurer Leah Hipperson becoming CFO on January 1, 2027; the board also declared a 2026 dividend of CAD 0.24 per share, unchanged from 2025.

Cameco Stock Performance

Shares of CCJ traded down $6.62 during mid-day trading on Friday, hitting $76.87. 9,542,563 shares of the company traded hands, compared to its average volume of 3,527,543. The stock has a market cap of $33.48 billion, a price-to-earnings ratio of 130.29, a P/E/G ratio of 1.69 and a beta of 1.17. The stock has a 50-day moving average price of $91.00 and a two-hundred day moving average price of $104.35. Cameco has a 1 year low of $73.89 and a 1 year high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CCJ shares. Truist Financial dropped their target price on shares of Cameco from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Jefferies Financial Group started coverage on shares of Cameco in a report on Thursday, September 3rd. They issued a “buy” rating and a $138.00 price objective for the company. Wall Street Zen cut Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Zacks Research cut Cameco from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Finally, Barclays cut their target price on Cameco from $97.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, October 19th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.93.

Key Stories Impacting Cameco

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Uranium prices rose approximately 8% during the quarter, while Cameco said nuclear-industry fundamentals remain strong. The company reiterated that its disciplined strategy and integrated exposure, including Westinghouse, support long-term value creation. Cameco Q3 2026 earnings call transcript
• Positive Sentiment: Cameco declared an annual dividend, with the company signaling a payment of approximately $0.24, providing continued shareholder income despite near-term earnings volatility. Cameco dividend and production outlook
• Neutral Sentiment: The company narrowed its 2026 uranium production outlook to 19.5 million–20.5 million pounds. The tighter range improves visibility, but the lower production pace highlights ongoing execution and maintenance risks. Cameco production outlook
• Negative Sentiment: Third-quarter adjusted earnings per share were $0.10, below the $0.23 analyst consensus. Profit for the first nine months also declined, reinforcing concerns about earnings volatility. Cameco stock falls after lower nine-month profit
• Negative Sentiment: Planned maintenance and an outage at Key Lake reduced production by about 20% and sharply pressured quarterly revenue and earnings. Investors are concerned that mine disruptions, rising costs, and Westinghouse execution could undermine Cameco’s raised revenue outlook. Cameco Q3 2026 earnings
• Negative Sentiment: Unusually heavy put-option activity—49,822 contracts, more than double typical volume—signals increased near-term hedging or bearish speculation, although it does not by itself confirm future performance.

About Cameco

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco’s principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.