Scotiabank Issues Pessimistic Outlook for Cameco Earnings

Cameco Corporation (NYSE:CCJ) (TSE:CCO) – Equities research analysts at Scotiabank lowered their FY2026 earnings estimates for shares of Cameco in a report released on Thursday, February 19th. Scotiabank analyst O. Wowkodaw now anticipates that the basic materials company will post earnings per share of $0.88 for the year, down from their prior estimate 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.

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

Other equities research analysts have also issued research reports about the company. UBS Group started coverage on Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective on the stock. Wall Street Zen lowered shares of Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada upped their price target 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, National Bank Financial reaffirmed an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.03.

Cameco Stock Up 1.8%

Shares of NYSE:CCJ opened at $121.16 on Monday. Cameco has a 52-week low of $35.00 and a 52-week high of $135.24. The company has a market capitalization of $52.77 billion, a PE ratio of 124.91 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The company has a fifty day moving average of $108.78 and a 200-day moving average of $93.51.

Institutional Trading of Cameco

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

Key Stories Impacting Cameco

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

About Cameco

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.