Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 9 Jun, 26 | CCJ | Buy | USD 103.51 | USD 108.8 | USD 114.0 | 7 days | Closed |
5.11%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Cameco Corporation provides uranium for the generation of electricity. It operates through three segments: Uranium, Fuel Services, and Westinghouse. The Uranium segment engages in the exploration for, mining, milling, purchase, and sale of uranium concentrate. The Fuel Services segment is involved in the refining, conversion, and fabrication of uranium concentrate, as well as purchase and sale of conversion services. The Westinghouse segment operates as a nuclear reactor technology original equipment manufacturer and a provider of products and services to commercial utilities and government agencies. It also provides outage and maintenance, engineering support, instrumentation and control equipment, and plant modification services, as well as components and parts to nuclear reactors. The company sells its uranium and fuel products and services to nuclear utilities in the Americas, Europe, and Asia. Cameco Corporation was incorporated in 1987 and is based in Saskatoon, Canada.
Growth in Revenue: Q1FY26 CAD 845 million vs Q1FY25 CAD 789 million
Increase in Net Earnings: Q1FY26 CAD 131 million vs Q1FY25 CAD 70 million
Decrease in Cash Provided by Operations: Q1FY26 negative CAD 22 million vs Q1FY25 positive CAD 110 million
Reduction in Fuel Services Production Volume: Q1FY26 3.3 million kgU vs Q1FY25 3.9 million kgU
Cameco remains exposed to uranium price volatility, operational disruptions at mining and processing facilities, regulatory changes affecting nuclear energy markets, and earnings variability from its equity-accounted investments, particularly Westinghouse and JV Inkai
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 103.51 | 93.2 | 108.8 | 114.0 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Uranium Market Strength Supports Earnings Expansion: Cameco Corporation reported a strong Q1FY26 performance, benefiting from favorable uranium market fundamentals and disciplined contract execution. Revenue increased 7% year-over-year to CAD 845 million, while net earnings attributable to equity holders rose 87% to CAD 131 million. Higher uranium sales volumes, improved realized prices, and stronger contributions from equity-accounted investments supported profitability growth.
Core Uranium Segment Delivered Robust Growth: The uranium segment remained the primary growth driver during the quarter. Uranium revenue increased 15% year-over-year to CAD 712 million, supported by a 13% increase in sales volume and a 6% rise in average realized uranium prices in U.S. dollar terms. Earnings before income taxes from the uranium business surged 58% to CAD 358 million, highlighting the benefits of strengthening long-term contracting activity.
Strategic Positioning Across the Nuclear Fuel Cycle: Cameco continues to strengthen its competitive position through its integrated nuclear fuel cycle strategy. The company maintained solid operational performance across Canadian and Kazakhstan mining assets while benefiting from its ownership interest in Westinghouse. Cameco’s share of Westinghouse adjusted EBITDA increased 33% year-over-year to CAD 122 million, reflecting growing opportunities from expanding global nuclear energy adoption.
Strong Balance Sheet Enhances Financial Flexibility: The company maintained a strong financial position with approximately CAD 1.1 billion in cash, cash equivalents, and short-term investments at the end of Q1FY26. Total shareholders’ equity increased to CAD 7.06 billion, while the company continued to maintain manageable debt levels of approximately CAD 1.0 billion. This financial strength provides flexibility to support growth initiatives and navigate market volatility.
Positive Long-Term Outlook Driven by Nuclear Energy Demand: Management maintained its annual guidance and remains optimistic about long-term nuclear energy demand. Growing energy security concerns, decarbonization initiatives, and increasing global interest in nuclear power generation continue to support favorable uranium market conditions. Cameco’s long-term contracted portfolio and ownership interests across the nuclear value chain position the company to benefit from sustained industry growth.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Buy’ recommendation has been given to Cameco Corporation (NYSE: CCJ) at the current market price of USD 103.51, as on 09 June 2026 at 6:52 am PDT.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Energy Industry: Uranium
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| CCJ Cameco Corp |
2.29 2.70% | 87.14 | 125.05 | 57.80 | 6.80 | 4.81 | 9.68 | 41.12 |
| NATKY JSC National Atomic Company Kazatomprom |
- -% | 65.30 | 14.26 | 15.75 | 0.0096 | 3.56 | 0.0093 | 0.02 |
| SRUUF Sprott Physical Uranium Trust |
0.09 0.49% | 18.30 | 25.19 | 13.00 | 636.01 | 1.79 | 1968.60 | -177.8571 |
| EGRAF Energy Resources of Australia Ltd |
- -% | 0.0094 | - | 31.15 | 71.96 | 6.08 | 10.50 | 7.55 |
| CGNMF CGN Mining Company Limited |
- -% | 0.35 | 50.55 | 0.37 | 0.58 | 7.77 | 5.51 | 57.89 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on June 9, 2026. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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