The Cameco share price is one of the most-watched tickers in the energy and commodity space, and it’s not hard to see why. As the uranium bull market extends into 2026, investors want more than just a number — they want context. This guide covers the current price, valuation metrics, earnings trends, analyst sentiment, and the structural forces pushing Cameco Corporation higher, or occasionally pulling it back.
Whether you’re tracking CCJ on the NYSE or CCO on the TSX, this is your comprehensive, evergreen starting point for what is CCJ stock and why it moves the way it does. Written as an informational reference — not personalised investment advice.
Key Takeaways
- Cameco Corporation trades as CCJ on the NYSE (around $99.00 USD) and as CCO on the TSX (around $137.50 CAD) as of 16 August 2026.
- Cameco operates across two core segments — the uranium segment and the fuel services segment — plus a strategic ~49% equity stake in Westinghouse Electric Company.
- Cameco’s trailing P/E ratio sits at 168.23, reflecting the significant premium investors assign to expected future earnings growth in the uranium sector.
- The CCJ share price has delivered a 5-year return in the range of +380–400%, dramatically outpacing both the S&P 500 and S&P/TSX Composite over the same period.
- Approximately 95% of analysts covering Cameco Corporation recommend Buy, with an average price target of $130.25 — implying meaningful upside from the current price.
- Cameco’s trailing P/E above 168 leaves limited margin for error — a genuine precaution worth weighing, since any disappointment in uranium prices or quarterly results could trigger a sharp pullback.
Current Cameco Share Price (CCJ & CCO)
As of 16 August 2026, Cameco Corporation’s current stock price is $99.00 on the NYSE (CCJ), having reached a daily high of $99.74 during the regular session — an intraday move of roughly +1.0–1.7%. On the TSX, CCO trades around CAD$137.50, tracking a similar percentage move in Canadian dollars.
| Metric | Value |
|---|---|
| NYSE (CCJ) | ~US$99.00, daily range $97.08–$99.74 |
| TSX (CCO) | ~CAD$137.50 |
| 52-week range (CCJ) | US$68.96 – US$135.24 |
| Average daily volume (CCJ) | ~2.5–3.5 million shares |
These figures reflect regular-session market activity, though after-hours trading can move the stock price a bit as well.
What Is CCJ Stock? Cameco Corporation at a Glance
Cameco Corporation is one of the world’s largest publicly traded uranium producers and a critical provider of nuclear fuel services. The company operates across the full nuclear fuel cycle, from raw material exploration through to finished fuel products ready for nuclear reactors.
Cameco Corp is headquartered in Saskatoon, Saskatchewan, Canada, founded in 1988 through the merger of the Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, bringing upstream mining and downstream fuel capabilities together under one roof. As of the most recent Annual Report (31 December 2025), Cameco employed approximately 3,082 employees, with 868 covered by collective bargaining agreements across facilities in Canada.
Cameco’s Business Segments: Uranium and Fuel Services
Cameco’s two operating segments are the primary engines of revenue, and understanding each is essential to evaluating the Cameco share price over any meaningful period.
Uranium Segment
The uranium segment is directly involved in exploration for, mining, milling, and the purchase and sale of uranium concentrate (U₃O₈). Key assets include the Cigar Lake mine and McArthur River/Key Lake operations in northern Saskatchewan, plus the JV Inkai operation in Kazakhstan. Cigar Lake’s production outlook for 2026 sits at 17.5 to 18.0 million pounds (100% basis), while Cameco’s average yearly uranium production guidance for 2026 is 19.5 to 21.5 million pounds (Cameco’s share). The sale of uranium concentrate under long-term contracts with utilities worldwide is the segment’s core revenue driver.
Fuel Services Segment
The fuel services segment involves refining, conversion, and fabrication of uranium concentrate into reactor-ready fuel at facilities like Port Hope and Blind River in Ontario. This includes the sale of conversion services (producing UF₆ and UO₂) and fabrication of fuel bundles for heavy-water reactors. Revenue here tends to be more stable and fee-based compared with the mining side, offering insulation from spot uranium price swings. Cameco’s long-term uranium supply contracts enhance its market position, with multi-year contract coverage for over 28 million pounds of uranium.
Key Stock Statistics, Cash Flow, and Valuation Snapshot
| Metric | Value |
|---|---|
| Market capitalization | $42.57 billion USD (~$59.04 billion CAD) |
| Enterprise value | $42.31 billion USD |
| Trailing P/E ratio | 168.23 |
| Revenue (TTM) | $3.47 billion |
| Net income (TTM) | $354.89 million (10.21% margin) |
| EBITDA | C$786.20 million |
| Dividend yield | ~0.18% |
| Average daily volume (NYSE) | ~2.5–3.0 million shares |
Cameco currently prioritises reinvestment, production scaling, and balance sheet discipline over high dividends, meaning shareholders looking for income should weigh this accordingly.
Recent Price Performance and Trading Range
The Cameco share price has experienced substantial volatility over the past year, reflecting shifting uranium market conditions, nuclear energy policy developments, and broader equity market rotations. Cameco’s stock has a 52-week range of $68.96 to $135.24 on the NYSE — a roughly 96% gap between low and high, underscoring just how sensitive this share is to uranium price expectations and quarterly surprises.
- YTD (2026): modestly positive, low single digits after a volatile first half.
- 1-year return: approximately +15–16%, driven by a steady recovery in uranium spot and term contract prices.
- 3-year return: roughly +180–220%, reflecting the sustained uranium bull market since late 2023.
- 5-year return: in the range of +380–400% — one of the most dramatic multi-year runs among commodity-exposed equities on the NYSE, dwarfing the S&P 500 and TSX Composite over the same period.
What’s Driving the Cameco Share Price?
Understanding what moves the Cameco share price beyond daily noise requires looking at four interconnected categories.
- Uranium spot and long-term contract prices: long-term uranium prices sit at multi-decade highs in the mid-$90s per pound, directly lifting margins in the uranium segment.
- Global nuclear energy demand: reactor restarts in Japan, aggressive new builds in China and India, and life extensions across Europe and North America all expand the addressable market. Electricity demands from AI and data centres further support nuclear as a baseload energy source.
- Company-specific operational factors: production timing at Cigar Lake and McArthur River, labour agreements, logistics disruptions in northern Saskatchewan, and planned outage schedules at conversion facilities all influence quarterly output.
- Macro and financial environment: interest rates, USD/CAD exchange rates, and overall equity risk appetite all matter for a stock with Cameco’s high-multiple valuation.
Earnings, Revenue Trends and Guidance
Earnings momentum and forward guidance are central to sustaining the current Cameco share price and justifying the premium valuation multiples.
| Metric | Q2 FY2026 |
|---|---|
| Revenue | ~$573 million |
| EPS | $0.13 |
| Net income | C$25.22 million (decreased from prior-year period) |
| Adjusted EBITDA | ~CAD 391 million |
The Q2 2026 EPS of $0.13 reflects a lower-delivery quarter by design — contracting discipline rather than weakness. Trailing twelve-month revenue stands at $3.47 billion, with net income of $354.89 million. Management’s 2026 guidance of 19.5 to 21.5 million pounds of uranium concentrate remains intact, with fuel services production expected in the 13–14 million kgU range. Cameco’s cash balance was about C$1.1 billion as of June 2026, offering meaningful flexibility for capital allocation.
Analyst Ratings and Price Targets
Analyst coverage on Cameco is broadly positive heading into the second half of 2026. Approximately 95% of analysts recommend buying Cameco stock, with virtually no sell ratings among the roughly 20–21 covering analysts. The average price target for Cameco is $130.25 per share (USD, CCJ), representing meaningful upside from the current $99.00 level, with the highest target reaching $177.06. Truist Securities raised its target from $129 to $130 while maintaining a Buy rating as of 12 August 2026, with RBC and Bank of America carrying similar or higher targets. On the TSX side, Canadian brokers carry targets for CCO in the C$160–190 range.
Cameco vs Peers: How It Stacks Up
Investors often compare Cameco with other uranium miners to gauge whether the current valuation is justified.
- Scale and integration: Cameco operates tier-one mining assets in Canada and Kazakhstan alongside refining, conversion, and fabrication facilities — most peers are development-stage or single-asset producers without fuel services exposure.
- Valuation premium: Cameco’s trailing P/E of 168.23 far exceeds typical extractive-sector norms, reflecting balance sheet strength and strategic assets like the Westinghouse equity stake.
- Volatility and beta: CCJ’s beta hovers around 1.5, meaning it moves roughly 50% more than the broader market on average.
- Dividend comparison: most uranium peers pay no dividends at all — Cameco’s modest ~0.18% yield still gives shareholders a small layer of comfort through downturns.
Risks and Cautions to Note
Despite strong multi-year performance, the Cameco share price is exposed to several factors worth weighing carefully:
- Uranium price risk: a downturn in uraniumdemand, driven by reactor delays or increased secondary supply, could pressure spot and term prices.
- Regulatory and political risk: nuclear policy shifts in Europe, permitting delays in Canada, or complications in Kazakhstan’s operations are all live considerations.
- Operational risk: production disruptions at Cigar Lake, spring road limitations in northern Saskatchewan, or outage issues at fuel services facilities could reduce volumes in a given period.
- Valuation risk: with a trailing P/E above 168, there’s limited room for disappointment — if earnings growth slows or interest rates rise further, high-multiple stocks like Cameco tend to face disproportionate selling pressure, and investors should also watch for any accounting provision tied to future obligations because it can affect reported earnings in a given period.
Long-Term Outlook for Cameco and Nuclear Energy
Decarbonisation mandates, energy security priorities, and electrification trends underpin the structural bull case for uranium and the Cameco share price over the coming decade. Global nuclear capacity is expected to grow through the 2030s, with China and India leading reactor build-out pipelines. Westinghouse Electric Company, in which Cameco holds a significant equity stake, has filed for a proposed initial public offering — a successful IPO could unlock substantial equity value for Cameco shareholders and provide the Westinghouse segment with additional capital, supporting instrumentation, controls equipment, and engineering support services for nuclear operators globally.
That said, investors should expect cyclical volatility ahead — uranium markets are notoriously boom-and-bust, and even a constructive long-term outlook doesn’t insulate the share price from sentiment-driven drawdowns in the weeks and quarters ahead.
How to Trade Cameco Shares
Some traders also gain uranium exposure through sector ETFs, but traders looking to act on Cameco share price movements without holding the underlying shares directly often use CFDs, which allow both long and short positions around earnings and broader commodity market cycles. VT Markets’ complete guide to CFD trading explains this mechanism, while the sector rotation CFD trading guide covers how capital moves between energy and other sectors as cycles evolve. VT Markets’ energies trading guide also offers useful broader context on trading commodity-linked names like Cameco.
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Frequently Asked Questions About Cameco Share Price
1. Why is the Cameco share price so volatile?
Cameco’s share price is highly sensitive to uranium spot prices, nuclear policy announcements, and quarterly earnings surprises. With a beta around 1.5 and a trailing P/E above 168, even modest changes in market expectations can produce outsized moves.
2. Is Cameco a pure uranium play or also a fuel services provider?
Cameco is both. The uranium segment covers exploration, mining, milling, purchase, and sale of uranium concentrate, while the fuel services segment covers refining, conversion, and fabrication — turning raw uranium into finished fuel for nuclear reactors.
3. What exchanges does Cameco trade on?
Cameco trades on the NYSE as CCJ (in USD) and on the TSX as CCO (in CAD), with CCJ typically seeing 2.5–3.5 million shares per day in volume.
4. Does Cameco pay a dividend?
Yes, but the dividend yield is currently modest at approximately 0.18%, paid annually. Cameco prioritises reinvestment and balance sheet strength over high dividends, so investors focused on total return from capital appreciation rather than income may find the low yield less of a concern.
