Cameco Corporation (CCO.TO) Buy, Sell or Hold

Cameco Corporation (CCO.TO)

100.80

-1.57 (1.53%)

as of Nov 13, 2026, 9:00:00 pm Market Closed.

553 watching

HOLD

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Raymond James raised its target from $17 to $20. There is no news to account for the drop today. It is important to note that it is down less than 3% after running up 48% yoy. Unlock Premium - Try 5i Free

TOP PICK

He's bought and sold this at a profit. It's broken out in recent weeks. Carries almost no debt. It's profitable, even at the bottom of the cycle. The uranium market should rise from $30 to $40/lb. He expects the ESG wave to hit Cameco, but Cameco offers carbon-free energy through nuclear energy. This could make a $1 billion a year. (Analysts’ price target is $17.24)

DON'T BUY

Has always been wary of uranium. It is a highly politicized material and is subject to many factors. Generally a space that is hard to read. It is always just over the horizon.

DON'T BUY

A materials company that he is not excited on. Has shorted this. A call on valuation and volatility. Not a lot of return on equity, expensive on EBITA basis, and no compelling reason to hold it. Uranium is a tougher market. Nuclear has not profited from the clean energy movement.

PAST TOP PICK

(A Top Pick Jun 14/19, Up 9%) It has recovered from a valley it hit during March. They didn't add it back when it dropped since there were so many other good opportunities.

WATCH

Uranium Sector. Has the bull started running? His proxy is CCO-T. If there is a bullish case for Uranium, the analysts have not heard it. U-T is up 66% so had had quite a move. He hopes the analysts will get the same message he is about the outlook for uranium.

DON'T BUY

Trump's decision to support U.S. uranium--effect on Cameco? It won't matter. The U.S. barely has any uranium. CCO is the second-best uranium company in the world. It's stable and transparent. But uranium's outlook given a global slowdown and lack of Japanese demand is cloudy. Also, this is HIGHLY volatile. Good for options traders, which he is not.

WAIT

The only thing to look at is uranium prices. Until prices take off, stay on the sidelines. If prices take off, first go-to is the Uranium Participation Corp. Then come back to Cameco after that. Need a break above $6 before he'd be interested.

SELL ON STRENGTH

A downward chart since early-2019. At $12.15, exit.

DON'T BUY

People have been waiting for interest in uranium and nuclear power for a long time. He has stayed away. He does not own it and does not follow it closely. It trades around book value and at forward earnings are not looking that robust. It is just too expensive. There will be more emphasis on nuclear generation in China and India going forward, but it could be a long wait.

DON'T BUY

The chart shows a stuck pattern. It's trading in a range from $11.50 - $12.50. Make sure to get out if it goes below $11.00. The demand-supply for this stock is very tricky. It's been on a downward trajectory from $50 for the last couple decades.

PAST TOP PICK

(A Top Pick Jun 14/19, Down 12%) They shut down their mine to tighten up their supply globally. It's one of the largest producer of uranium and they were trying to use their market power. It never panned out. It makes sense from an investment view though.

PAST TOP PICK

(A Top Pick Sep 24/19, Up 3%) Lot has happened today, up 6%. Seasonality is late September to January. The world nuclear conference happens, and investors wait for it, to see the price. The US was holding back because some companies were pushing for reduction of uranium. The panel recommended to create a special reserve for the future, so this lifted the stock.

COMMENT

The uranium market will take care of itself, but when? The uranium price will depend on Japanese restarts which has been tepid. Low prices have taken a toll on CCO. Also, their balance sheet is no longer great. This depends on your patience in waiting for uranium prices to rise.

DON'T BUY

Has owned it in the past. A tricky sector to enter now. Is suffering production cutbacks. The stock price may continue to improve, but he's not ready to bite.

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Cameco Corporation (CCO.TO)