Scotiabank Has Bullish Forecast for Cameco FY2026 Earnings

Cameco Corporation (NYSE:CCJ) (TSE:CCO) – Investment analysts at Scotiabank boosted their FY2026 EPS estimates for Cameco in a report issued on Wednesday, May 6th. Scotiabank analyst O. Wowkodaw now anticipates that the basic materials company will earn $1.07 per share for the year, up from their previous estimate 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) (TSE:CCO) last released 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. The firm had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share.

Several other research analysts have also recently weighed in on CCJ. Weiss Ratings cut shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 target price on shares of Cameco in a research note on Thursday, February 5th. Canadian Imperial Bank of Commerce increased their target price on Cameco to $202.00 in a research note on Monday, March 9th. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Glj Research reissued a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $153.13.

Cameco Trading Down 4.1%

Cameco stock opened at $118.73 on Friday. The stock has a market cap of $51.71 billion, a P/E ratio of 109.93, a PEG ratio of 2.35 and a beta of 1.04. Cameco has a fifty-two week low of $48.81 and a fifty-two week high of $135.24. The firm’s fifty day moving average price is $114.87 and its 200-day moving average price is $105.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 3.08.

Institutional Trading of Cameco

Several institutional investors have recently added to or reduced their stakes in CCJ. Madison Asset Management LLC increased its stake in Cameco by 5.8% in the 1st quarter. Madison Asset Management LLC now owns 42,175 shares of the basic materials company’s stock worth $4,581,000 after purchasing an additional 2,324 shares during the period. Titan Global Capital Management USA LLC increased its stake in Cameco by 3.5% in the 1st quarter. Titan Global Capital Management USA LLC now owns 37,258 shares of the basic materials company’s stock worth $4,047,000 after purchasing an additional 1,247 shares during the period. Amova Asset Management Americas Inc. increased its stake in Cameco by 37.7% in the 1st quarter. Amova Asset Management Americas Inc. now owns 522,864 shares of the basic materials company’s stock worth $56,788,000 after purchasing an additional 143,113 shares during the period. AlTi Global Inc. increased its stake in Cameco by 17.8% in the 1st quarter. AlTi Global Inc. now owns 158,650 shares of the basic materials company’s stock worth $18,261,000 after purchasing an additional 24,020 shares during the period. Finally, Earned Wealth Advisors LLC purchased a new position in Cameco in the 1st quarter worth approximately $209,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Cameco

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.