CCJ AI Stock Analysis – Buy, Hold, or Avoid?
Cameco Corporation (CCJ)
Fundamentals
Cameco Corporation (CCJ) exhibits robust revenue growth and improving profitability, bolstered by favorable uranium market fundamentals. Margin expansion and increasing net income position the company well, though the recent valuation appears stretched relative to historical averages. Despite cyclical earnings volatility, the long-term demand outlook for nuclear energy remains a strong tailwind.
Financial Highlights
- Revenue
- Net Income
- Net Margin (%)
Revenue
7.09% YoY
Q1 2026
Net Income
87.90% YoY
Q1 2026
Net Margin
Q1 2026
Growth Metrics
Revenue Growth YoY
Latest Quarter: Q1 2026
Net Income Growth YoY
Latest Quarter: Q1 2026
Revenue Per Share Growth YoY
Latest Quarter: Q1 2026
EPS Growth YoY
Latest Quarter: Q1 2026
Book Value Per Share Growth YoY
Latest Quarter: Q1 2026
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 845.4M | 1.2B | 614.6M | 877.0M | 789.4M | 1.2B | 720.6M | 598.5M |
| Revenue Growth YoY | +7.09% | +1.42% | -14.72% | +46.55% | +24.61% | +40.23% | +25.30% | +24.16% |
| Net Income | 131.1M | 198.9M | -141.0K | 320.9M | 69.8M | 135.5M | 7.4M | 36.0M |
| Net Income Growth YoY | +87.90% | +46.82% | -101.90% | +791.11% | +1088.72% | +69.12% | -94.98% | +162.98% |
| EPS | $0.31 | $0.45 | -$0.00 | $0.74 | $0.16 | $0.31 | $0.02 | $0.08 |
| EPS Growth YoY | +93.75% | +45.16% | -101.75% | +825.00% | +900.00% | +72.22% | -94.97% | +153.16% |
Profitability Metrics
Gross Margin
TTM
Operating Margin
TTM
Net Margin
TTM
Return on Equity
TTM
Return on Assets
TTM
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.68% | 22.24% | 37.32% | 29.31% | 34.22% | 21.10% | 23.71% | 29.30% |
| Operating Margin | 19.42% | 13.63% | 15.14% | 18.92% | 23.54% | 15.30% | 13.92% | 17.04% |
| Net Margin | 15.51% | 16.58% | -0.02% | 36.59% | 8.84% | 11.45% | 1.03% | 6.02% |
| Return on Equity (ROE) | 1.85% | 2.88% | -0.00% | 4.76% | 1.07% | 2.13% | 0.12% | 0.58% |
| Return on Assets (ROA) | 1.30% | 1.94% | -0.00% | 3.36% | 0.75% | 1.37% | 0.08% | 0.39% |
Technical Analysis
Cameco Corporation (CCJ) is in a strong uptrend with a golden cross confirmed by the 50-day moving average being above the 200-day MA. The stock is consolidating near significant support levels around $110-$117 while facing resistance near $122 and its 52-week high at $134. Momentum indicators are mixed but overall suggest neutral to slightly bullish momentum amid range-bound trading.
No extreme reading
Price in uptrend
Range-bound market
50 above 200 - bullish
Key Technical Values
Price with Moving Averages
50-day, 150-day and 200-day simple moving averages
Relative Strength Index
Momentum oscillator measuring speed and magnitude of price changes
RSI (14)
Earnings
Cameco Corporation (CCJ) exhibits robust revenue growth and improving profitability, bolstered by favorable uranium market fundamentals. Margin expansion and increasing net income position the company well, though the recent valuation appears stretched relative to historical averages. Despite cyclical earnings volatility, the long-term demand outlook for nuclear energy remains a strong tailwind.
Latest Earnings
Q1 2026 Earnings (Mar 31, 2026)
Earnings Per Share (EPS)
Actual
$0.34
Estimated
$0.29
Surprise
+$0.05
Surprise %
+17.24%
Revenue
Actual
$607.49M
Estimated
$598.63M
Surprise
+$8.85M
Surprise %
+1.48%
Historical Earnings
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | |
|---|---|---|---|---|---|---|---|---|
| Earnings Per Share | ||||||||
| EPS (Actual) | $0.34 | $0.36 | $0.05 | $0.51 | $0.11 | $0.26 | $-0.01 | $0.10 |
| EPS (Estimated) | $0.29 | $0.29 | $0.14 | $0.27 | $0.09 | $0.16 | $0.14 | $0.13 |
| EPS Surprise | +$0.05 | +$0.07 | -$0.09 | +$0.24 | +$0.02 | +$0.10 | -$0.15 | -$0.03 |
| % Diff | +17.2% | +24.1% | -64.6% | +87.6% | +18.0% | +59.7% | -107.3% | -23.1% |
| Revenue | ||||||||
| Revenue (Actual) | $607.49M | $874.57M | $440.62M | $643.71M | $554.33M | $822.19M | $530.99M | $437.72M |
| Revenue (Estimated) | $598.63M | $806.26M | $389.39M | $427.79M | $396.35M | $533.14M | $410.58M | $395.16M |
| Revenue Surprise | +$8.85M | +$68.31M | +$51.23M | +$215.92M | +$157.98M | +$289.04M | +$120.41M | +$42.56M |
| % Diff | +1.5% | +8.5% | +13.2% | +50.5% | +39.9% | +54.2% | +29.3% | +10.8% |
Valuation
Cameco Corporation (CCJ) trades at a significant premium across valuation metrics, reflecting optimistic growth expectations amid a bullish uranium market. While earnings growth and margins are improving, the stretched multiples compared to peers and the broader uranium industry warrant caution. Positive industry trends and long-term contracts support upside potential but valuation risks remain elevated.
Valuation Metrics
Price to Earnings
TTM
Price to Sales
TTM
Price to Book
TTM
Enterprise Value to EBITDA
TTM
Enterprise Value to Revenue
TTM
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | |
|---|---|---|---|---|---|---|---|---|
| Price to Earnings | 125.98 | 68.73 | -90402.48 | 34.30 | 92.41 | 59.37 | 946.45 | 210.34 |
| Price to Sales | 77.94 | 45.57 | 82.97 | 50.20 | 32.67 | 27.19 | 39.02 | 50.63 |
| Price to Book | 9.33 | 7.93 | 7.52 | 6.53 | 3.97 | 5.06 | 4.53 | 4.89 |
| Enterprise Value to EBITDA | 293.05 | 218.06 | 561.64 | 175.55 | 106.35 | 116.12 | 170.54 | 192.25 |
| Enterprise Value to Revenue | 77.85 | 45.50 | 83.34 | 50.53 | 33.48 | 27.78 | 40.73 | 52.65 |
Sentiment & Analyst Ratings
Cameco Corporation (CCJ) sentiment is mildly positive overall, supported by strong analyst buy consensus and upbeat Q1 earnings beats. News coverage is upbeat on the nuclear energy theme and multi-year sales contracts, while social media and retail sentiment skew bullish despite recent profit-taking. Investors remain cautiously optimistic, balancing bullish growth drivers against valuation and sector risks.
Analyst Recommendations
Risk Assessment
Cameco Corporation (CCJ) demonstrates a strong financial position characterized by robust liquidity ratios and low leverage, supported by increasing contract-based uranium deliveries and improving earnings fundamentals. Despite short-term uranium market price volatility and operational risks from maintenance activities, the company benefits from a favorable supply-demand imbalance in uranium and strategic positioning in the nuclear fuel cycle. Overall, CCJ presents moderate financial and market risks balanced by a supportive industry outlook and stable long-term contracts.
Liquidity & Solvency
Current Ratio
Latest Quarter: Q1 2026
Quick Ratio
Latest Quarter: Q1 2026
Debt-to-Equity
Latest Quarter: Q1 2026
Debt-to-Assets
Latest Quarter: Q1 2026
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | |
|---|---|---|---|---|---|---|---|---|
| Liquidity Metrics | ||||||||
| Current Ratio | 3.08 | 2.47 | 2.99 | 2.96 | 2.71 | 1.62 | 2.88 | 3.22 |
| Quick Ratio | 2.09 | 1.68 | 1.57 | 1.75 | 0.99 | 0.80 | 0.96 | 1.20 |
| Solvency Metrics | ||||||||
| Debt-to-Equity | 0.14 | 0.15 | 0.15 | 0.15 | 0.15 | 0.20 | 0.23 | 0.25 |
| Debt-to-Assets | 0.10 | 0.10 | 0.10 | 0.11 | 0.11 | 0.13 | 0.15 | 0.17 |
Liquidity Assessment
Current Ratio: 3.08(Strong)
Quick Ratio: 2.09(Strong)
The company has strong liquidity with sufficient short-term assets to cover liabilities.
Solvency Assessment
Debt-to-Equity: 0.14(Low)
Debt-to-Assets: 0.10(Low)
The company has conservative debt levels, indicating low financial risk and strong long-term solvency.
Frequently Asked Questions about CCJ
AI Answers: Common Questions About CCJ
Get AI-powered answers to the questions investors ask most about Cameco Corporation
Cameco is fundamentally strong with margins above 35% and EPS up over 200% YoY, but at $116.75 and a P/E of 107.11, it is trading at a significant premium to peers and history. While long-term prospects are bright, current entry is only attractive for those willing to accept valuation risk and potential short-term volatility.
If you already own CCJ, there is no urgent reason to sell given strong fundamentals and positive sentiment; however, the stock is consolidating and overvalued, so trimming or waiting for a pullback may be prudent for risk management. No clear technical breakdown is present, so holding is reasonable unless your thesis has changed.
The biggest risks are uranium spot price volatility, which could compress margins, operational interruptions (planned maintenance, hazards), and regulatory or geopolitical disruptions. Debt is low (debt/equity ~0.14, debt/assets <10%), and liquidity is strong (current ratio >3), but sector cyclicality remains a concern.
Technical resistance is at $122.46 and $134 (52-week high), with support at $117.79, $110.56, and $108. Analyst targets range up to $175, but near-term price action suggests range-bound trading unless a breakout occurs; upside is capped without new catalysts.
CCJ is overvalued by traditional metrics: P/E is 107.11, EV/EBITDA is extremely high, and P/S is elevated versus both peers and its own history. The premium reflects bullish uranium expectations, but leaves little margin of safety if growth disappoints.
Fundamentally, CCJ is very strong: revenue and net income are growing double digits, gross margin has improved from ~21% to over 35%, and the balance sheet is robust with low leverage and high liquidity. Earnings quality has improved, with most profits from core operations.
Technically, CCJ is consolidating between $110-$122 with neutral RSI (~49) and mixed MACD signals. The 50-day SMA is above the 200-day (golden cross), but ADX is weak, indicating a sideways phase; a break above $122.46 could target $134, while a drop below $108 could signal deeper correction.
Key catalysts include new multi-year uranium supply deals, further uranium price rallies, major nuclear policy announcements, and upcoming earnings reports. Watch for volume spikes or technical breakouts above $122.46 for near-term momentum.
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