Key Points
Cameco Corporation (CCJ) finished today’s session with a strong advance, rising to $93.50 from a previous close of $89.45. The move represents a 4.53% gain, with the stock advancing $4.05 on the day. Momentum skewed positive from the open and held through the close, signaling firm demand and an improving tone among investors as CCJ extended its recent upswing.
Trading activity came in below-average, suggesting the advance was driven more by steady accumulation than by frantic short-term trading. Despite the lighter participation, the price action was orderly, and buyers kept control throughout the session. CCJ remains 15% below its 52-week high of $110.16, leaving room for additional recovery if the current trend persists and fundamental news flow continues to favor the company.
Today’s constructive performance underscores growing investor confidence and supportive sentiment around the business outlook. While the stock is still shy of its late-October peak, the quality of the rally—an upward move on a calm tape—often reflects conviction-led buying. The combination of price strength and a measured pace of trading can be a healthy backdrop for follow-through, as it points to incremental allocation rather than speculative spikes. With the latest advance, CCJ has strengthened its intermediate-term trajectory and is positioned to build on this momentum if upcoming catalysts remain favorable and buyers continue to step in on dips.
Why Cameco Corporation Price is Moving Higher
Cameco Corporation’s stock climbed to $93.50 today, extending a stretch of bullish momentum that followed stronger-than-expected operating updates and favorable industry dynamics. The shares continue to trade below the 52-week high of $110.16, which leaves room for upside if positive catalysts persist. With a market cap of $38.84 billion, CCJ’s scale and leadership in nuclear fuel provide a sturdy backdrop for investor enthusiasm. Trading volume of 1,995,358 shares was below the 90-day average of 4,871,526, but the price response remained strong, consistent with conviction-led buying.
A key driver was Cameco's report of robust Q3 results on Dec. 3, 2025. Management highlighted net earnings of $391 million and adjusted net earnings of $410 million for the first nine months of 2025, both significantly higher than the prior year. Adjusted EBITDA reached $1.3 billion versus $1.1 billion in 2024, reflecting improved profitability and higher realized uranium prices on fixed contracts. Revenue and margins expanded year over year, supported by resilient nuclear market fundamentals and growing demand for carbon-free baseload power.
Cameco also announced an accelerated dividend increase to $0.24 per share, payable Dec. 16, 2025, citing a strong balance sheet and additional distributions from its Westinghouse investment. That capital return signals confidence in cash flow durability and future growth. Analysts responded constructively: Raymond James lifted its price target to $150, while RBC and BMO reiterated outperform views, citing Cameco’s leadership and favorable long-term uranium outlook. Against this backdrop, investors appear comfortable with a premium multiple relative to current EPS of $0.87, as CCJ’s integrated fuel-cycle position and contractual visibility frame a compelling, longer-duration earnings narrative.
What is the Cameco Corporation Rating - Should I Buy?
Weiss Ratings assigns CCJ a C rating. Current recommendation is Hold.
The rating is built on five indices: the Weak Growth Index (measures revenue and earnings expansion) indicates recent top-line pressure, consistent with -15.55% revenue growth; the Good Efficiency Index (measures operational effectiveness and profit margins) is supported by a 15.23% profit margin and improving operating leverage; the Excellent Solvency Index (measures financial health and debt management) reflects a strong balance sheet and disciplined capital structure; the Fair Total Return Index (measures stock price appreciation plus dividends) points to mixed risk-adjusted performance over varying horizons; and the Fair Volatility Index (measures price stability and risk) signals moderate price swings typical of cyclical, commodity-linked businesses.
Valuation sits at a premium with a 103.36 P/E ratio, which helps explain the Fair Total Return assessment: strong long-term positioning is partly offset by the return drag that can come from elevated entry multiples. Return on equity of 7.97% is constructive but not yet indicative of top-quartile efficiency, aligning with the Good Efficiency Index rather than Excellent.
Relative to peers, CCJ’s C rating is in line with large Energy comparables: Exxon Mobil (XOM) is C, Chevron (CVX) is C, and ConocoPhillips (COP) is C. Within this cohort, Cameco’s business mix is more directly linked to nuclear fuel, which can offer differentiated demand drivers, yet the risk/return balance remains broadly comparable at this stage.
Overall, the C (Hold) reflects a balanced profile: excellent balance sheet strength and solid efficiency are offset by weak recent growth, a premium valuation, and only fair risk-adjusted returns. This mix supports a measured outlook rather than a more aggressive stance.
About Cameco Corporation
Cameco Corporation is a leading Energy company focused on the nuclear fuel cycle, with core capabilities in uranium production and fuel services. The company’s mining portfolio includes some of the world’s highest-grade uranium deposits, supported by long-lived assets and disciplined production strategies. Through a mix of owned operations and joint ventures, Cameco sources uranium from tier-one mines and leverages fixed-price and market-related contracts to serve global utilities.
Beyond mining, Cameco operates refining, conversion, and fuel manufacturing facilities that process uranium concentrates into products required for reactor operation. Its fuel services platform provides value-added capabilities—such as uranium refining at Blind River and conversion and fuel fabrication at Port Hope—that enhance supply reliability for customers and deepen integration across the nuclear value chain. This integrated approach helps ensure quality control, schedule reliability, and competitive cost positioning.
Cameco’s customer base primarily consists of nuclear utilities that require long-term, dependable supply to support baseload power generation. Contracting strategies emphasize diversification by geography, tenor, and pricing mechanisms, which can mitigate commodity-price volatility and support cash flow visibility. In addition, Cameco holds an investment in Westinghouse, a global nuclear technology and services provider, which expands its exposure to reactor services and aftermarket opportunities.
Operating within the Energy sector, Cameco’s competitive advantages include high-grade resource optionality, an integrated fuel-cycle footprint, and deep relationships with nuclear operators. These strengths position the company to participate in the growing role of nuclear power as a stable, carbon-free component of the global energy mix.
Investor Outlook
Cameco Corporation’s recent momentum, reinforced by improving profitability and supportive nuclear demand trends, sets a favorable backdrop for continued progress. The C (Hold) rating frames expectations around a balanced risk/reward profile while recognizing strengths in solvency and efficiency.
With constructive fundamentals and a supportive industry narrative, CCJ remains well-positioned for long-term participation in nuclear growth. See full rankings of all C-rated Energy stocks inside the Weiss Stock Screener.