Scotiabank Has Strong Forecast for Cameco FY2026 Earnings

Cameco Corporation (NYSE:CCJ) (TSE:CCO) – Scotiabank increased their FY2026 earnings per share estimates for Cameco in a report released on Friday, April 17th. Scotiabank analyst O. Wowkodaw now forecasts that the basic materials company will post earnings of $0.89 per share for the year, up from their prior forecast of $0.88. The consensus estimate for Cameco’s current full-year earnings is $1.48 per share.

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

Other analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Canadian Imperial Bank of Commerce lifted their target price on shares of Cameco to $202.00 in a research report on Monday, March 9th. Royal Bank Of Canada lifted their target price on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Finally, Glj Research reiterated a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cameco has a consensus rating of “Moderate Buy” and an average target price of $150.40.

Cameco Stock Performance

Shares of NYSE CCJ opened at $126.48 on Wednesday. The business has a fifty day simple moving average of $114.32 and a 200 day simple moving average of $103.90. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $55.08 billion, a price-to-earnings ratio of 130.39 and a beta of 1.02. Cameco has a one year low of $41.30 and a one year high of $135.24.

Institutional Trading of Cameco

Large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC bought a new stake in Cameco in the first quarter valued at $30,000. Nisa Investment Advisors LLC bought a new stake in Cameco in the fourth quarter valued at $25,000. Brown Lisle Cummings Inc. grew its position in Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 288 shares during the period. Financial Consulate Inc. bought a new stake in Cameco in the third quarter valued at $25,000. Finally, Founders Capital Management bought a new stake in Cameco in the fourth quarter valued at $27,000. 70.21% of the stock is currently owned by institutional investors.

Key Stories Impacting Cameco

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: William Blair initiated coverage with an “Outperform” rating, adding institutional-scale endorsement that can attract buy-side flows and support the rally. William Blair Initiates Coverage
• Positive Sentiment: Brokerage consensus across firms was reported as an average “Moderate Buy,” reinforcing demand-side interest and supporting upward momentum. Brokerage Consensus: Moderate Buy
• Positive Sentiment: Scotiabank slightly raised its FY2026 EPS estimate (from $0.88 to $0.89), a modest upgrade that signals confidence in near-term fundamentals. Scotiabank FY2026 Estimate
• Neutral Sentiment: Comparative pieces (Yahoo/Zacks) weighing Cameco vs. smaller peer Energy Fuels highlight CCJ’s scale and stability versus higher-growth, higher-risk alternatives — useful for portfolio positioning but not an immediate catalyst. CCJ vs UUUU Comparison
• Negative Sentiment: Market commentary noted a notable intraday decline in recent sessions (Zacks flagged a larger-than-market drop), a reminder of volatility in uranium names that can trigger profit-taking or short-term weakness. Zacks: Larger Drop Noted
• Negative Sentiment: Scotiabank also trimmed its FY2027 EPS by a small amount (from $1.48 to $1.47), a minor downward revision that slightly offsets the positive near-term messaging. Scotiabank FY2027 Revision

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.