Scotiabank Has Pessimistic Outlook of Cameco FY2026 Earnings

Cameco Corporation (NYSE:CCJ) (TSE:CCO) – Stock analysts at Scotiabank cut their FY2026 earnings estimates for shares of Cameco in a report released on Thursday, February 19th. Scotiabank analyst O. Wowkodaw now forecasts that the basic materials company will post earnings of $0.88 per share for the year, down from their previous forecast of $1.07. Scotiabank currently has a “Outperform” rating on the stock. The consensus estimate for Cameco’s current full-year earnings is $1.27 per share.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group restated a “buy” rating and issued a $131.00 price target on shares of Cameco in a research note on Wednesday, February 4th. Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Sanford C. Bernstein restated an “outperform” rating and set a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. Royal Bank Of Canada boosted their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Finally, Glj Research reissued a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.03.

Cameco Stock Performance

CCJ opened at $121.16 on Monday. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. Cameco has a 12-month low of $35.00 and a 12-month high of $135.24. The business has a 50 day moving average of $108.78 and a 200-day moving average of $93.51. The stock has a market cap of $52.77 billion, a price-to-earnings ratio of 124.91 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. The business had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. Cameco’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Cameco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after buying an additional 258,193 shares in the last quarter. Capital World Investors boosted its position in shares of Cameco by 0.3% during the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after acquiring an additional 41,430 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cameco by 0.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after acquiring an additional 85,762 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Cameco by 41.4% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after purchasing an additional 2,071,373 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Cameco by 15.6% during the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock worth $575,771,000 after purchasing an additional 849,188 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco News Summary

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: GLJ Research reiterated a buy rating on Cameco, supporting upside sentiment from some sell‑side firms that expect continued strength in uranium demand. GLJ Research Reiterates Buy for Cameco (NYSE:CCJ)
• Positive Sentiment: MarketBeat highlighted a bullish, longer-term case that global adoption of nuclear power could keep demand for uranium—and Cameco’s revenues—elevated, a thematic driver that has helped CCJ’s recent run. Can Cameco Continue Its Run?
• Neutral Sentiment: Scotiabank trimmed its FY2027 EPS forecast for Cameco slightly (from $1.53 to $1.48) but left an Outperform rating in place—this is a modest earnings haircut rather than a full-scale outlook change, so the impact may be limited unless revisions accelerate. MarketBeat: Cameco / Scotiabank Note
• Negative Sentiment: Zacks Research downgraded Cameco from “strong-buy” to “hold,” which can pressure momentum players and reduce near-term buying conviction. Zacks.com
• Negative Sentiment: There was unusually large put option activity—roughly 28,210 puts (about a 942% increase vs. average)—indicating elevated hedging or speculative bearish positioning that can amplify intraday volatility and signal downside risk if sentiment shifts. Investors Buy High Volume of Cameco Put Options

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.