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Cameco Corp(CCJ)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
3-STAR RATING
PASS
LAST CLOSE
$88.12
09/24/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for CCJ

09/24/2026: CCJ (3-star) is currently NOT-A-BUY. Pass it for now.

Cameco Corp is a major player in the global nuclear fuel industry, specializing in uranium mining and fuel cycle services. Its primary strength lies in its high-grade assets and vertical integration, which provides it with a resilient, long-term competitive position. The company's main growth story is the global pivot toward carbon-free nuclear energy, which is driving structural demand for uranium. Investors should note risks such as commodity price volatility, operational execution in mining, and regulatory sensitivity. Cameco may suit growth-oriented investors looking for exposure to the nuclear energy theme, though it requires tolerance for the cyclical nature of the uranium market.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorStrong fitThe company offers exposure to the structural growth trend of global nuclear energy adoption.
Momentum investorStrong fit while signal remains positivePositive price trends in uranium often attract momentum traders during energy supply tightening.
Value investorMixed fitValuation is often tied to volatile commodity price expectations, which can be difficult to assess.
Dividend investorWeak fitThe dividend yield is relatively low compared to traditional income-producing sectors.
Low-risk investorWeak fitMining operations and commodity price exposure introduce volatility that may not suit risk-averse portfolios.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighEarnings are directly impacted by fluctuations in the spot and long-term uranium markets.
Valuation riskMediumMarket expectations for nuclear energy can lead to premium pricing on growth assumptions.
Competition risk (Uranium supply)MediumGlobal competition from state-owned entities can affect supply-demand balance.
Business qualityStrongThe company owns tier-one, high-grade assets that are difficult to replicate.
Dividend incomeLowThe stock is currently prioritized for growth investment over income generation.
Execution riskMedium / highComplex mining and industrial operations require precise execution to maintain safety and production targets.

Price Behavior

Downtrend
PRICE PATH

Downtrend

The stock has experienced a sustained decline in price over recent periods.

Moderately Choppy
PRICE STABILITY

Moderately Choppy

The stock has experienced noticeable price swings while retaining some directional structure.

Analysis of Past Performance

Type Stock
Historic Profit 30.58%
Avg. Invested days 31
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 3.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/24/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
CCJ receives a 4-star rating, supported by solid unit economics, solid company fundamentals, and solid analyst coverage. The rating is constrained by weak price momentum.

Company Fundamentals

★★★★★
CCJ has solid overall fundamentals (4 stars), with solid financial health, solid growth momentum, and solid ownership. In FY2025 versus FY2024, strong earnings growth (+242.8%) and strong cash generation (FCF margin 30.9%) are partially offset by very low insider ownership of 0.14%.

Financial Health Rating

★★★★★
CCJ's financial health is supported by strong cash strength, including free-cash-flow generation of $1.1B (30.9% of revenue). Profitability is moderate (3 stars), which helps explain the 4-star overall score.

Growth Momentum Score

★★★★★
Earnings growth is CCJ's strongest growth driver at +242.8% FY2025 versus FY2024 (strong, 5 stars). Revenue growth (+10.9%, solid) and free-cash-flow growth (+55.0%, strong) are also constructive, though not equally high across every growth measure.

Ownership

★★★★★
Institutional ownership is 69.8% and approximately 99.8% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership is only 0.14%, which materially reduces the ownership score.

Top 5 Institutional Investors

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 3.53%
Capital World Investors 3.07%
Vanguard Capital Management, LLC 2.72%
Royal Bank of Canada 2.20%
FMR Inc 2.12%

Unit Economics (Per $1K Revenue)

★★★★★
CCJ generates approximately $267 of gross profit, $167 of operating income, and $309 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 24.15%

Quantitative Style Profile

★★★★★
CCJ has a large-cap, liquid profile. Weak momentum is the primary drawback, while valuation that is moderately attractive rather than deeply discounted.

Style Classification

Quality Focused

Large / Mega Cap StabilityHighly Liquid / Institution-Friendly

Key Highlights

Company Size Large-Cap Stock
Market Capitalization 39.55B USD
Price to earnings Ratio 165.09
1Y Target Price 127.97
Price to earnings Ratio 165.09
1Y Target Price 127.97
Volume (30-day avg) 2.9M shares
Beta 1.01
52 Weeks Range 77.55 - 135.24
Updated Date 09/23/2026
52 Weeks Range 77.55 - 135.24
Updated Date 09/23/2026
Dividends yield (FY) 0.25%
Basic EPS (TTM) 0.55

How Company Makes Money

Business areaWhat it includesRetail investor read
Uranium MiningExtraction and sale of uranium concentrate to nuclear utilities.This is the core business; its profitability relies on the global market price of uranium.
Fuel ServicesRefining, conversion, and fuel fabrication.This adds value-added processing revenue beyond just the raw material.

Analyzing Revenue: Products, Geography and Growth

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 165.09
Forward PE 51.81
Enterprise Value 41.28B
Price to Sales(TTM) 11.38
Enterprise Value 41.28B
Price to Sales(TTM) 11.38
Enterprise Value to Revenue 16.67
Enterprise Value to EBITDA 68.27
Shares Outstanding 435.53M
Shares Floating 434.48M
Shares Outstanding 435.53M
Shares Floating 434.48M
Percent Insiders 0.14
Percent Institutions 69.76

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Cameco Corp

Exchange NYSE
Headquarters Saskatoon, SK, Canada
IPO Launch date 1996-03-14
CEO & Director Mr. Timothy S. Gitzel
Sector Energy
Industry Uranium
Full time employees -
Full time employees -

Cameco Corporation provides uranium for the generation of electricity in the Americas, Europe, and Asia. It operates in three segments: Uranium, Fuel Services, and Westinghouse. The Uranium segment engages in the exploration for, mining, milling, purchase, and sale of uranium concentrate. Its 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 controls 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. Cameco Corporation was incorporated in 1987 and is headquartered in Saskatoon, Canada.