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

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Cameco Corporation (CCO.TO)

158.44

-1.08 (0.68%)

as of Jun 4, 2026, 8:00:01 pm Market Open.

546 watching

Investor Insights

Jun 4, 2026, 12:00 am

This summary was created by AI, based on 45 opinions in the last 12 months.

Cameco Corporation (CCO) has emerged as a significant player in the uranium sector, driven by a global resurgence in nuclear power demand. Most experts appear optimistic about its long-term prospects, noting that the combination of geopolitical tensions, especially the Ukraine-Russia war, and the growing shift towards clean energy sources favors the uranium market. The company has strong fundamentals with increasing earnings and a notable strategic acquisition of Westinghouse, enhancing its operational capabilities. However, many analysts express concerns over its high valuation, with a considerable number recommending to wait for a price pullback before initiating positions. Despite the positive sentiment around nuclear energy as part of the future energy mix, opinions vary on the appropriate entry points for investment, with current price levels prompting caution among some investors.

Consensus

Cautious

Valuation

Overvalued

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WEAK BUY

They've tried to pull back production. Whole industry is doing the same to try to boost the price. Price now gives you a very interesting risk/reward. Once the market tightens, stock has a lot of upside, but you need to be patient. Not much of a dividend. Small weighting of 1-2%.

BUY

It's traded sideways for five years, because uranium prices have been flat. However, China is building many nuclear reactors, so this should rise. Buy and hold long-term.

DON'T BUY

Really tough commodity to have. Not sure why you'd want to. If you really want to own a commodity, look at iron ore or copper. You want to be in those commodities where supply is shrinking.

TOP PICK

A unique story. Closed their mine to buy on the spot market to deliver into their contracts. Cleaned up inventory. Given time, they hope to move the spot market. Yield is 0.58%. (Analysts’ price target is $17.73)

COMMENT

This is a tricky one. Nuclear is a grey area because it is a low carbon energy. Environmentalists are up in arms about nuclear waste. From a financial point he finds plants are very expensive and often go over budget and lock us into an infrastructure for 60 years. You can't generate the energy near where it is consumed so you have high infrastructure costs for transmission. He also does not like commodities. He thinks renewable energy may out-compete nuclear. As batteries get cheaper, renewable gets cheaper than nuclear and transmission lines. This company is excluded from a lot of socially responsible definitions.

COMMENT

Strong seasonality for uranium stocks at the end of the year. He's been watching CCO, but it weakens whenever he wants to recommend it. $12 is a level to watch.

DON'T BUY

He would be careful as a number of their properties are currently shut down. Uranium is one of the hardest metals to predict, because there are so many politics wrapped around the metal. He would not be investing here.

COMMENT

The uranium sector. He's watching Cameco, but it's too expensive for him and have too many problems. They will probably win their Japanese lawsuit, but close their major operation in Saskatchewan, costing them $7/month. Uranium will have its day in the sun.

PARTIAL BUY

The chart shows higher highs and lows. It's been in an uptrend, so buy a half position now, then buy more as it breaks $18-19. Average up.

TOP PICK

Over the next three years as Japan turns reactors back on and China continues to build them, demand will come back. Reactors tend to carry 3-5 years of inventory on site. He thinks they will re-establish themselves and demand will come back. (Analysts’ price target is $18.13)

DON'T BUY

They won the first round against the Canadian government over a tax issue and they may win the second. They also have litigation in Japan that they will likely win. Uranium prices are doing better than better. He likes CCO but it's too expensive right now. It's a contrarian play for sure.

HOLD

There is secular growth and they are cyclical. We are starting to make a turn. We are seeing good risk/reward in this area. He would be buying it here. He bought an EFT in the area just this week.

DON'T BUY

He's wary of uranium, difficult to determine supply and demand given the politics. Uranium prices have been struggling for years. Pays a small dividend and yield. The stock price won't rise for a long time.

TOP PICK

Company he has known for a long time. Played the last uranium cycle very successfully with it. The cycle was aborted by the Fukushima disaster. There are 54 new nuclear reactors being constructed. 10% growth on 450 running. Over 150 being planned. He thinks uranium price will go back from the mid-20s to 45-50 dollars range. Dividend yield is 2.64%.

HOLD

Uranium stocks are cheap on a price to book basis, he thinks. The issue now is when will new long term contracts come in? When will the Japanese come back? Nor are we hearing of any rumours of new contracts. It is hard to see a positive outlook. He would continue to hold.

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Cameco Corporation (CCO.TO)