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Cameco Corp (CCJ) Stock

Cameco Corp Stock Details, Movements and Public Alerts

Cameco Corporation (CCJ): The $25B Uranium Giant Fueling the Nuclear Renaissance

CEO Tim Gitzel has navigated Cameco through uranium's darkest days (2011 Fukushima crash, $18/lb prices) to today's resurgence ($90/lb uranium, 70+ reactors under construction globally). Cameco controls McArthur River and Cigar Lake—two of the world's highest-grade uranium mines producing at $20/lb all-in costs vs. $60/lb industry average. This cost advantage, combined with long-term contracts locking in 85% of production through 2030, insulates Cameco from spot price volatility while capturing upside through trading division. Recent developments validate the nuclear thesis: Microsoft signing 20-year power purchase agreement for restarted Three Mile Island reactor, Amazon and Google announcing SMR investments, and 25+ countries pledging to triple nuclear capacity by 2050 at COP28. With uranium supply constrained (no new Tier-1 mines in 15 years) and demand accelerating (AI datacenters requiring 24/7 clean power), Cameco trades at the intersection of energy security, decarbonization, and AI infrastructure.

52-Week Range

$110.16 - $35.00

-14.32% from high · +169.66% from low

Avg Daily Volume

6,558,323

20-day average

100-day avg: 5,053,658

Fundamentals

Valuation Metrics

P/E Ratio (TTM)

120.37

Above market average

Forward P/E

57.80

Earnings expected to grow

PEG Ratio

3.33

Potentially overvalued

Price to Book

7.57

EV/EBITDA

45.91

EPS (TTM)

$0.87

Price to Sales

12.78

Beta

1.18

Similar volatility to market

How is CCJ valued relative to its earnings and growth?
Cameco Corp trades at a P/E ratio of 120.37, which is above the market average of approximately 20. This premium valuation suggests investors expect above-average growth or the company has competitive advantages justifying the higher multiple. Looking ahead, the forward P/E of 57.80 is lower than the current P/E, indicating analysts expect earnings to grow over the next year. The PEG ratio of 3.33 indicates a premium valuation even accounting for growth.
What is CCJ's risk profile compared to the market?
With a beta of 1.18, Cameco Corp is roughly as volatile as the market, moving in line with broad market trends. This moderate beta suggests the stock offers market-level returns without excessive volatility. The price-to-book ratio of 7.57 shows investors value the company above its book value, which often reflects intangible assets or growth prospects.

Performance & Growth

Profit Margin

14.90%

Operating Margin

17.80%

EBITDA

$956.23M

Return on Equity

8.25%

Return on Assets

3.95%

Revenue Growth (YoY)

46.50%

Earnings Growth (YoY)

821.00%

How profitable and efficient is CCJ's business model?
Cameco Corp achieves a profit margin of 14.90%, meaning it retains $14.90 from every $100 in revenue after all expenses. This represents a solid margin typical of well-run businesses, showing the company can effectively balance revenue generation with cost control. The operating margin of 17.80% reveals how efficiently the company runs its core business operations before interest and taxes. With ROE at 8.25% and ROA at 3.95%, the company achieves moderate returns on invested capital.
What are CCJ's recent growth trends?
Cameco Corp's revenue grew by 46.50% year-over-year, representing robust expansion that significantly outpaces typical market growth rates. This strong top-line performance suggests the company is successfully capturing market share or benefiting from favorable industry trends. Earnings increased by 821.00% year-over-year, outpacing revenue growth through improved margins. These growth metrics should be evaluated against URANIUM industry averages for proper context.

Dividend Information

Dividend Per Share

$0.16

Dividend Yield

0.15%

Ex-Dividend Date

Nov 27, 2024

Dividend Date

Dec 13, 2024

What dividend income can investors expect from CCJ?
Cameco Corp offers a dividend yield of 0.15%, paying $0.16 per share annually. This modest yield below 2% suggests the company prioritizes growth investments over current income. While the dividend provides some return, investors are likely attracted more by capital appreciation potential than income generation. To receive the next dividend, shares must be purchased before the ex-dividend date of Nov 27, 2024.
How reliable is CCJ's dividend for long-term investors?
The dividend sustainability can be assessed through the payout ratio - Cameco Corp pays $0.16 per share in dividends against earnings of $0.87 per share, resulting in a payout ratio of 18.39%. This conservative payout below 30% indicates excellent dividend safety with substantial room for future increases. The company retains most earnings for growth while still rewarding shareholders. The next dividend payment is scheduled for Dec 13, 2024.

Company Size & Market

Market Cap

$45.6B

Revenue (TTM)

$3.57B

Revenue/Share (TTM)

$8.20

Shares Outstanding

435.39M

Book Value/Share

$15.48

Asset Type

Common Stock

What is CCJ's market capitalization and position?
Cameco Corp has a market capitalization of $45.6B, classifying it as a large-cap stock ($10B-$200B). Large-caps are typically industry leaders with established business models, offering a balance of stability and growth potential. They often provide dividend income and are core holdings in institutional portfolios. With 435.39M shares outstanding, the company's ownership is relatively concentrated. As a participant in the URANIUM industry, it competes with other firms in this sector.
How does CCJ's price compare to its book value?
Cameco Corp's book value per share is $15.48, while the current stock price is $94.38, resulting in a price-to-book (P/B) ratio of 6.10. This high P/B ratio indicates significant intangible assets, strong brand value, or high growth expectations. Technology and consumer brand companies often trade at elevated P/B ratios due to intellectual property and competitive advantages not reflected on the balance sheet. As a common stock, this represents equity ownership with voting rights.

Analyst Ratings

Analyst Target Price

$110.12

16.68% upside potential

Analyst Recommendations

Strong Buy

8

Buy

9

Hold

2

Sell

0

Strong Sell

0

How reliable are analyst predictions for CCJ?
19 analysts cover CCJ with 89% recommending buy/strong buy ratings. Analyst predictions have mixed reliability - studies show consensus rarely beats market returns consistently. The strong bullish consensus may already be priced in. The consensus target of $110.12 implies 16.7% upside, but targets are often adjusted to follow price moves rather than predict them.
What is the Wall Street consensus on CCJ?
Current analyst recommendations:8 Strong Buy, 9 Buy, 2 Hold, 00The bullish tilt suggests optimism about future prospects, though investors should conduct independent research.Remember that analyst opinions often lag price movements and can be influenced by investment banking relationships.

Fundamentals last updated: Nov 1, 2025, 02:03 AM

Technical Indicators

RSI (14-day)

50.51

Neutral

50-Day Moving Average

$86.73

8.82% above MA-50

200-Day Moving Average

$64.58

46.14% above MA-200

MACD Line

2.78

MACD Signal

3.45

MACD Histogram

-0.67

Bearish

What does CCJ's RSI value tell investors?
The RSI (Relative Strength Index) for CCJ is currently 50.51, indicating the stock is in neutral territory (40-60 range). Neither buyers nor sellers have clear control, suggesting consolidation or balanced market forces. Combined with the price being above the 50-day moving average, this confirms bullish conditions.
How should traders interpret CCJ's MACD and moving average crossovers?
MACD analysis shows the MACD line at 2.78 below the signal line at 3.45, with histogram at -0.67. This bearish crossover indicates downward pressure. The 50-day MA ($86.73) is above the 200-day MA ($64.58), forming a golden cross pattern that typically signals a long-term uptrend. Price is currently above both MAs, confirming strength.

Indicators last updated: Nov 10, 2025, 09:07 AM

Active Alerts

Alert Condition
Price decreases by
Threshold
3%
Created
Oct 26, 2025, 06:56 PM

Cameco Corporation (CCJ) Stock Analysis 2025: Complete Investment Guide

From Fukushima Survivor to Nuclear Renaissance Leader

Tim Gitzel remembers March 2011: Fukushima melted down, uranium crashed from $70/lb to $18/lb, and Cameco's stock fell 70%. For eight years, the industry bled—miners went bankrupt, mines closed, and nuclear energy faced existential crisis. Gitzel kept Cameco alive by idling production (McArthur River shuttered 2018-2022), cutting costs, and signing long-term contracts at depressed prices. That discipline now pays dividends: Cameco restarted McArthur in 2022 just as uranium soared to $90/lb on Russian supply fears and climate-driven nuclear revival. Unlike competitors who sold mines or went bankrupt, Cameco emerged with irreplaceable Tier-1 assets producing uranium at $20/lb—capturing $40-70/lb margins as spot prices surge.

Business Model & Competitive Moat

Cameco mines uranium at McArthur River (Saskatchewan, 18% grade) and Cigar Lake (14% grade)—deposits 50-100x richer than global average (0.1-0.3% grade). This geology creates unassailable cost advantages: extracting uranium from 18% ore costs $20/lb; from 0.1% ore costs $60-80/lb. Cameco also operates Kazakh JV (Inkai mine) and trading division buying/selling uranium to optimize deliveries. The moat: (1) Tier-1 geology cannot be replicated, (2) 85% production locked under long-term contracts providing revenue visibility, (3) Decades of relationships with utilities who trust Cameco's reliability. Key risk: 15% of supply purchased on spot market exposes to price swings.

Financial Performance

  • •Revenue: $2.5B TTM growing 35% as volumes ramp and uranium prices rise
  • •Gross Margin: 45% at $65/lb realized uranium price, expanding toward 55% at $80/lb
  • •Free Cash Flow: $450M+ annually at current prices, doubling to $900M if uranium holds $80/lb
  • •Production: 32M lbs uranium in 2024, targeting 40M lbs by 2027 (25% growth)
  • •Balance Sheet: $1.2B cash, minimal debt—financial fortress after 2011-2020 hardship

Growth Catalysts

  • •AI Datacenter Demand: Microsoft, Amazon, Google signing nuclear power deals for 24/7 clean energy—200+ GW needed by 2030
  • •SMR Deployments: Small modular reactors (TerraPower, NuScale) commercializing 2027-2030, requiring 15M+ lbs uranium annually
  • •Coal Retirements: 600 GW coal plants retiring globally by 2030, nuclear replacing 100+ GW as baseload alternative to gas
  • •Russian Supply Risk: Westinghouse/EDF phasing out Russian enrichment, tightening Western uranium supply 30M lbs/year
  • •Supply Deficit: No new Tier-1 mines since 2000; deficit reaching 70M lbs/year (20% of demand) by 2030

Risks & Challenges

  • •Uranium Price Volatility: Spot price swings 30-50% annually; if uranium falls to $50/lb, free cash flow halves
  • •Regulatory Risk: Nuclear accidents (however unlikely) could reverse sentiment, crash uranium prices as in 2011
  • •Geopolitical Exposure: 25% production from Kazakhstan JV subject to Russian influence, sanctions risk
  • •Execution Risk: Ramping McArthur/Cigar to full capacity requires skilled labor in remote Saskatchewan—recruitment challenges
  • •ESG Controversy: Despite being carbon-free, nuclear waste and mining environmental impacts exclude CCJ from some ESG funds

Competitive Landscape

Cameco competes with Kazatomprom (world's largest producer, 40% market share, state-owned Kazakhstan), Orano (France, state-backed), and smaller miners like Energy Fuels, Ur-Energy. Cameco's advantages: (1) Only major Western publicly traded pure-play, (2) Tier-1 geology (18% grades vs. 0.1-1% peers), (3) Diversified (mining + trading), (4) Canadian jurisdiction vs. Kazakhstan/Niger political risks. However, Kazatomprom's 40% market share and $15/lb costs (from in-situ leaching) pressure pricing. New entrants unlikely—permitting mines takes 10-15 years, $1B+ capex.

Who Is This Stock Suitable For?

Perfect For

  • ✓Nuclear energy bulls betting on carbon-free baseload power necessity
  • ✓Commodity investors seeking uranium exposure with operational leverage
  • ✓Long-term holders (5-10 years) comfortable with boom-bust commodity cycles
  • ✓ESG investors prioritizing decarbonization over nuclear opposition
  • ✓Inflation hedgers (uranium contracts escalate with CPI)

Less Suitable For

  • ✗Income investors (1% dividend yield, cut during downturns)
  • ✗Risk-averse portfolios (40-60% annual volatility)
  • ✗Short-term traders (commodity cycles take years to play out)
  • ✗Anti-nuclear ESG mandates (waste, proliferation concerns)

Investment Thesis

Cameco offers leveraged exposure to nuclear energy's structural revival. Unlike utilities (regulated returns) or reactor vendors (one-time sales), Cameco benefits from multi-decade uranium demand growth with no new supply. The thesis: AI datacenters, coal retirements, and climate commitments drive nuclear capacity from 400 GW today to 800+ GW by 2050. This requires 300M lbs uranium annually vs. 180M lbs current production—70M lb/year deficit emerging. Cameco's Tier-1 mines capture this deficit at $20/lb costs, generating $50-70/lb margins if uranium averages $70-90/lb long-term. At $55/share ($25B market cap), CCJ trades at 11x forward free cash flow if uranium holds $75/lb—reasonable for a leveraged commodity play with monopoly assets.

Risks are real: another Fukushima crashes uranium to $30/lb, wiping out margins. Geopolitical shocks (Kazakhstan instability) disrupt 25% of production. Or SMRs fail to commercialize, limiting demand growth. However, for investors with 5-10 year horizons believing nuclear is essential for decarbonization, Cameco is the purest play. The company survived uranium's darkest decade and now sits on irreplaceable assets just as the market structurally tightens.

Conclusion

CCJ is BUY for growth/commodity portfolios with 5+ year horizons. Best entry on pullbacks to $45-50. Position size 3-5% given volatility. Not suitable for conservative investors or those requiring stable dividends. Appropriate for investors believing nuclear energy is essential for clean baseload power.
Bull Case
$85 (55% upside) - Uranium sustains $90/lb+, SMRs deploy faster than expected, supply deficit deepens
Base Case
$62 (13% upside) - Uranium averages $70-75/lb through 2027, steady production growth
Bear Case
$38 (31% downside) - Uranium falls to $50/lb on demand disappointment or new supply

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