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

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Cameco Corporation (CCO.TO)

134.01

-0.81 (0.60%)

as of Sep 11, 2026, 8:00:01 pm Market Open.

548 watching

Investor Insights

Sep 13, 2026, 12:00 am

This summary was created by AI, based on 38 opinions in the last 12 months.

Cameco Corporation (CCO-T) continues to attract attention as a leading player in the uranium sector, benefiting from increasing demand for nuclear energy amid global transitions toward cleaner energy sources. Experts mention the mixed recent results but highlight substantial growth potential, particularly driven by factors such as AI requirements for electricity and the ongoing nuclear renaissance. Many analysts observe short-term volatility and price corrections; however, the long-term outlook remains bullish given the expected uranium supply-demand tightness and Cameco's strategic investments, like its stake in Westinghouse. Despite analysts pointing to high valuations currently, with price earnings multiples generally above 70, CCO-T is still viewed as a solid option for growth in an evolving energy landscape.

Consensus

Bullish

Valuation

Overvalued

Similar

Uranium, U.UN

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.

DON'T BUY

They shut down MacArthur River and took off 10% supply from the market which is helping the supply situation but what happens when it comes back on line and then China brings some of their production back on line. He would look elsewhere. They are in a fight with CRA.

RISKY

The sector has been out of favor. It closed its mine but might reopen it this year.

BUY

Part of their commodity exposure. They added when it came off in mid-November. They shut-down some of their mines in the last couple of months. The goal was to clean up the market a little as there has been excess supply for a while. Now demand is starting to pick up. Great company.

DON'T BUY

The dividend will not likely be cut again. You have to wait until Uranium prices rise and that would be good for this stock but they would not rush to increase the old dividend level. The dividend is almost irrelevant.

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Cameco Corporation (CCO.TO)