Cameco
Mines uranium, supplies reactor fuel, and shares ownership of Westinghouse.
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Profile
Supplies uranium, refining, conversion, CANDU fuel, and reactor services through three segments: Uranium, Fuel Services, and Westinghouse. Long-term utility contracts support sales across international markets, while output depends on mine and mill performance, nuclear regulation, supply access, and Westinghouse execution.
Spans three reportable segments: Uranium, Fuel Services, and Westinghouse. Uranium comes from tier-one Canadian operations and JV Inkai, while Fuel Services covers refining, conversion, and CANDU fuel manufacturing.
Extends into light-water-reactor fuel, services, engineering, components, and reactor technology through the Westinghouse investment. Long-term contracts connect this integrated portfolio with utilities across international markets; laser enrichment remains a development-stage investment rather than a commercial segment.
Operating results depend on mine and mill performance, uranium prices, nuclear regulation, geopolitical access to supply, and service and project execution at Westinghouse. Safe and responsible operation and Indigenous employment are stated operating commitments, while the business remains exposed to long-cycle utility contracting and uranium-market shutdowns.
Company facts
Key statistics
Year to date +1.5% · Average volume (30d) 3.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 12, 2026 | Truist Financial | Target | $129 | $130 | |
| Aug 4, 2026 | Barclays | Reiterate | Equal Weight | $104 | $97 |
| Jul 15, 2026 | Barclays | Target | $108 | $104 | |
| Jul 13, 2026 | Truist Financial | Target | $129 | ||
| Jun 15, 2026 | Bernstein | Target | $147 | $135 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 31, 2026Q2 FY26 | $0.26 | $0.13 | −50.0% | $579.6M | $573.1M | −1.1% | −2.10% |
| May 5, 2026Q1 FY26 | $0.29 | $0.34 | +17.2% | $598.6M | $607.5M | +1.5% | +8.15% |
| Feb 13, 2026Q4 FY25 | $0.29 | $0.36 | +24.1% | $806.3M | $874.6M | +8.5% | +0.04% |
| Nov 5, 2025Q3 FY25 | $0.14 | $0.05 | −64.6% | $389.4M | $440.6M | +13.2% | −5.25% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $567.9M | $630.9M | $442.1M | $863.2M | $608.1M | $585.6M | |
| Gross profit | $194.3M | $184.9M | $165.0M | $192.0M | $216.9M | $123.4M | |
| Operating income | $133.7M | $119.4M | $66.9M | $117.7M | $118.1M | $61.0M | |
| Net income | $50.2M | $230.8M | −$101.4K | $143.1M | $94.3M | $18.1M | |
| Diluted EPS | $0.12 | $0.53 | −$0.00 | $0.32 | $0.22 | $0.04 | |
| Gross margin | 34.2% | 29.3% | 37.3% | 22.2% | 35.7% | 21.1% | |
| Operating margin | 23.5% | 18.9% | 15.1% | 13.6% | 19.4% | 10.4% |
Fiscal years (4-quarter sums)FY21 $1.06B · FY22 $1.34B · FY23 $1.86B · FY24 $2.26B · FY25 $2.50B
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $800.8M · Total debt $726.1M · Total assets $7.41B · Shareholders' equity $5.13B
Dividends
Raised for 7 straight years — most recently to $0.1719 from $0.1141 in Dec 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Dec 1, 2025 | Dec 1 | Dec 16 | $0.1719 | raised from $0.1141 |
| Nov 27, 2024 | Nov 27 | Dec 13 | $0.1141 | raised from $0.0883 |
| Nov 29, 2023 | Nov 30 | Dec 15 | $0.0883 | raised from $0.088 |
| Nov 29, 2022 | Nov 30 | Dec 15 | $0.088 | raised from $0.065 |
| Nov 29, 2021 | Nov 30 | Dec 15 | $0.065 |
Ownership
Shares outstanding 435.53M · Float 434.48M · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 21.88M | 5.02% | 13G | Jul 27, 2026 |
| Mirae Asset Global Etfs Holdings Ltd. | 15.55M | 3.57% | 13F | Aug 14, 2026 |
| Capital World Investors | 13.37M | 3.07% | 13F | Aug 12, 2026 |
| Vanguard Capital Management LLC | 12.02M | 2.76% | 13F | Aug 13, 2026 |
| Royal Bank of Canada | 10.91M | 2.51% | 13F | Aug 14, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- BWX Technologies
Direct rival in CANDU fuel, components, and nuclear services
- Uranium Energy
Expanding US uranium producer and physical-inventory seller
- Energy Fuels
US uranium producer with mill capacity and utility contracts
- Denison Mines
Athabasca producer and developer building a utility sales book
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cameco | $99.97 | −0.04% | $43.56B | 170.0 | 70.9 | 17.4 | −11.0% |
| BWX Technologies | $153.62 | +0.47% | $14.00B | 39.4 | 30.4 | 4.0 | +18.0% |
| Uranium Energy | $12.39 | −0.08% | $6.14B | — | — | 303.8 | −59.4% |
| Energy Fuels | $14.69 | +0.14% | $3.67B | — | — | 34.7 | +496.1% |
| Denison Mines | $3.40 | +0.44% | $3.07B | — | — | 1,041.4 | −45.9% |
| Median | 39.4 | 30.4 | 169.2 | −13.9% |