Analyst Consensus ?
ConsensusBuy20 ratings
Bullish1365.0%
Neutral525.0%
Bearish210.0%
1 unmapped firm rating excluded from the percentages.
Cameco Corporation · CCJ · FY2025 Q2 · Calendar Q3 2025
Cameco holds guidance as Westinghouse contribution improves
Cameco's quarter supports a constructive long-term demand case through long-term contracting and Westinghouse project activity. The near-term evidence remains conditional: guidance was maintained, while production execution, project investment decisions and enrichment funding still matter.
Reported Before market openNYSEEnergy
$33.50B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.51
Consensus $0.27
EPS surprise
+87.6%
Reported versus consensus
Reported revenue
$643.7M
Consensus $427.8M
Revenue surprise
+50.5%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-3.6%
Event window
SPY move
-0.4%
Same window
Abnormal move
-3.3%
Stock minus SPY
Volume
1.7×
Versus trailing sessions
Subsequent drift
+4.9%
Up to 20 sessions
CCJSPY benchmark
Ask FN2 about CCJ FY2025 Q2
Transcript, numbers and history already loaded
Why did CCJ fall 3.6% after beating EPS estimates in FY2025 Q2?What changed in CCJ's guidance and outlook in FY2025 Q2?Give me the bull and bear case for CCJ after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management described an improved Westinghouse contribution, including an updated adjusted EBITDA expectation tied to the Dukovany project. The company maintained its outlook; production remains on track despite maintenance and mining challenges. Leadership changes were also announced.
Guidance delta
Full-year guidance was reaffirmed. The five-year Westinghouse CAGR range remains unchanged at 6–10%; the adjusted EBITDA contribution from Westinghouse is now expected at $525M–$580M following a $170M revenue uplift from Dukovany.
Key takeaways
- Management said 2025 uranium production remains on track despite maintenance and mining challenges.
- Westinghouse contribution is improving, but management is retaining its five-year CAGR outlook pending project final investment decisions.
- Management emphasized long-term uranium and conversion contracts alongside the global nuclear build pipeline as demand drivers.
- Cameco reported a strong balance sheet and announced transitions in several senior leadership roles.
Management priorities
- Maintain disciplined long-term contracting for uranium and conversion services.
- Invest in mining expansion and equipment to meet production targets.
- Support Westinghouse's new-build pipeline and pursue additional reactor projects.
- Advance GLE toward commercial operation, subject to DOE funding decisions.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$75.15Current
$30.24Low
$109.15Average
$175High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 2, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Truist Securities | Buy | Buy | Maintain | Oct 22, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Oct 19, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 9, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jun 29, 2026 |
| GLJ Research | Buy | Buy | Maintain | Feb 18, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Oct 29, 2025 |
| Scotiabank | Outperform | Outperform | Maintain | Aug 19, 2024 |
| TD Securities | Action List Buy | Maintain | Oct 3, 2023 | |
| Canaccord Genuity | Buy | Buy | Maintain | Sep 5, 2023 |
| Raymond James | Outperform | Outperform | Maintain | Aug 3, 2023 |
| BMO Capital | Outperform | Market Perform | Upgrade | Mar 31, 2022 |
| Bank of America | Underperform | Underperform | Maintain | Oct 4, 2017 |
| Credit Suisse | Underperform | Neutral | Downgrade | Jul 18, 2017 |
| CIBC | Outperform | Sector Perform | Upgrade | Apr 7, 2015 |
| Salman Partners | Buy | Hold | Upgrade | Oct 30, 2014 |
| Dundee | Buy | Neutral | Upgrade | Oct 9, 2014 |
| Cowen & Co. | Market Perform | Outperform | Downgrade | Aug 21, 2014 |
| Cantor Fitzgerald | Hold | Buy | Downgrade | Jul 25, 2014 |
| Cormark Securities | Market Perform | Buy | Downgrade | Feb 11, 2014 |
| UBS | Buy | Buy | Maintain | Aug 2, 2013 |
| JP Morgan | Neutral | Overweight | Downgrade | Nov 8, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $75.15. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Christopher Souther | $125 | $82.02 | +66.3% | Oct 22, 2026 |
| Barclays | Analyst unavailable | $95 | $81.52 | +26.4% | Oct 19, 2026 |
| Jefferies | Analyst unavailable | $138 | $96.38 | +83.6% | Sep 3, 2026 |
| Truist Financial | Analyst unavailable | $130 | $99.31 | +73.0% | Aug 12, 2026 |
| Barclays | Analyst unavailable | $97 | $89.72 | +29.1% | Aug 4, 2026 |
| Barclays | Analyst unavailable | $104 | $91.57 | +38.4% | Jul 15, 2026 |
| Truist Financial | Analyst unavailable | $129 | $90.2 | +71.7% | Jul 13, 2026 |
| Bernstein | Bob Brackett | $135 | $106.96 | +79.6% | Jun 15, 2026 |
| Barclays | Analyst unavailable | $108 | $105.33 | +43.7% | May 21, 2026 |
| Scotiabank | Orest Wowkodaw | $175 | $114.46 | +132.9% | May 6, 2026 |
| Bernstein | Bob Brackett | $147 | $109.97 | +95.6% | Feb 5, 2026 |
| Goldman Sachs | Analyst unavailable | $131 | $126.15 | +74.3% | Feb 4, 2026 |
| Bernstein | Analyst unavailable | $101 | $102.09 | +34.4% | Jan 7, 2026 |
| GLJ Research | Analyst unavailable | $99.74 | $86.85 | +32.7% | Dec 3, 2025 |
| Goldman Sachs | Analyst unavailable | $109 | $105.95 | +45.0% | Oct 29, 2025 |
| UBS | Analyst unavailable | $102 | $77.39 | +35.7% | Sep 9, 2025 |
| CLSA | Max Hopkins | $102 | $77.14 | +35.7% | Sep 9, 2025 |
| Bernstein | Bob Brackett | $70 | $63.83 | -6.9% | Jun 10, 2025 |
| Goldman Sachs | Neil Mehta | $55 | $43.32 | -26.8% | Apr 1, 2024 |
| Scotiabank | Orest Wowkodaw | $30.24 | $25.07 | -59.8% | Nov 1, 2021 |
| GLJ Research | Gordon Johnson | $30.24 | $19.11 | -59.8% | Sep 1, 2021 |
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Start freeCompany context
Snapshot as of publicationCameco Corporation is a prominent global enterprise specializing in the production and distribution of uranium. Its operations are structured into two core divisions: Uranium and Fuel Services. The Uranium division manages the full upstream process, encompassing the exploration, extraction, and initial processing (milling) of uranium ore, as well as the procurement and sale of uranium concentrate. Conversely, the Fuel Services division focuses on the downstream transformation of uranium. This includes the refining, conversion, and fabrication of uranium concentrate into usable forms, alongside providing related conversion services. Furthermore, this segment is responsible for manufacturing specialized fuel bundles and reactor components specifically designed for CANDU reactors. Cameco provides its essential uranium products and associated fuel services to nuclear utility clients across major international markets, including the Americas, Europe, and Asia. The company was founded in 1987 and maintains its principal office in Saskatoon, Canada.
Historical context
All CCJ earningsEnergy peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CVX Chevron Corporation | FY2026 Q3 · Calendar Q4 2026 | +8.4% | +1.8% | Chevron posts strong Q3 as production, cash flow and AI value rise |
| XOM Exxonmobil Holdings Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.7% | +2.2% | ExxonMobil Highlights Refining, LNG and Cash Returns in Q3 |
| IMO Imperial Oil Limited | FY2026 Q3 · Calendar Q4 2026 | +6.4% | +5.5% | Imperial Oil: downstream strength and low-carbon growth lead Q3 |
| BP BP p.l.c. | FY2026 Q3 · Calendar Q4 2026 | +22.6% | +0.1% | BP Q3: Strong profit, lower debt, safety risks persist |
| FSLR First Solar, Inc. | FY2026 Q3 · Calendar Q4 2026 | +13.5% | -1.4% | First Solar: Margin gains offset lower volume outlook |
| SHEL Shell plc | FY2026 Q3 · Calendar Q4 2026 | +7.2% | +2.4% | Shell pairs strong Q3 with LNG expansion and portfolio deals |
Latest beats and misses
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- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the CCJ recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-11-02T15:50:43.144722+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-02T15:50:43.141915+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-02. For educational purposes only; not investment advice.