Desjardins Issues Optimistic Forecast for Cameco Earnings

Cameco Co. (TSE:CCO) (NYSE:CCJ) – Equities researchers at Desjardins upped their FY2026 earnings per share estimates for shares of Cameco in a research note issued to investors on Wednesday, October 1st. Desjardins analyst B. Adams now expects that the company will post earnings of $1.97 per share for the year, up from their previous estimate of $1.93. Desjardins has a “Buy” rating and a $110.00 price objective on the stock.

Several other equities research analysts have also recently commented on the company. Bank of America boosted their target price on Cameco from C$110.00 to C$130.00 in a research note on Friday, August 29th. Royal Bank Of Canada boosted their target price on Cameco from C$100.00 to C$110.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. National Bankshares boosted their target price on Cameco from C$110.00 to C$115.00 and gave the company an “outperform” rating in a research note on Friday, August 22nd. President Capital upgraded Cameco from a “neutral” rating to a “buy” rating and set a C$126.92 price objective on the stock in a research note on Monday, September 22nd. Finally, Scotiabank upped their price objective on Cameco from C$100.00 to C$110.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$113.46.

Cameco Trading Up 1.4%

TSE CCO opened at C$120.73 on Monday. The stock has a market capitalization of C$52.56 billion, a price-to-earnings ratio of 98.96, a PEG ratio of 2.22 and a beta of 1.12. The stock’s 50 day moving average price is C$109.23 and its two-hundred day moving average price is C$89.73. The company has a debt-to-equity ratio of 20.35, a quick ratio of 3.74 and a current ratio of 2.88. Cameco has a 52 week low of C$49.75 and a 52 week high of C$124.12.

Cameco Company Profile

Cameco is one of the world’s largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries.