Overview
- Raymond James lifted its Cameco price target to C$165 on January 15 and kept an Outperform rating, citing favorable long-term supply–demand dynamics.
- Bernstein nudged its target to $101 on January 7 with an Outperform rating, pointing to tightening supply, rising term prices, and policy support for nuclear power.
- Uranium futures crossed $88 per pound on January 23, the highest in 18 months, and Cameco shares rose 6.53% during the week of January 16–23.
- S&P Global Market Intelligence data show total costs under $46 per pound in 2025 versus term prices above $85, with year-to-date pre-tax margins near 23% compared with about 8% last year.
- Reported nine-month 2025 revenue includes about $1.8 billion from the Westinghouse stake, $1.3 billion from mining and resales, and $279 million from refining and enriching, alongside a market value above $50 billion and a trailing P/E near 134.