Cameco Maintains Outperform Rating from RBC Capital Markets and National Bank of Canada.

Cameco Corporation, a uranium fuel provider, maintains its "outperform" rating from RBC Capital Markets and National Bank of Canada. The company offers uranium fuel, processing services, and manufactures fuel assemblies. Its uranium segment involves exploration, mining, and purchase of uranium concentrate, while the fuel services segment provides refining, conversion, and fabrication of uranium concentrate. The Westinghouse segment offers nuclear services.

Cameco Corporation, a leading provider of uranium fuel, has maintained its "outperform" rating from RBC Capital Markets and National Bank of Canada, despite recent adjustments to its uranium production outlook for 2025. The company, which offers uranium fuel, processing services, and manufactures fuel assemblies, continues to be seen as a strong player in the nuclear energy sector.

Cameco's uranium segment, which involves exploration, mining, and purchase of uranium concentrate, has faced delays in ground freezing at the McArthur River mine. These delays have led to a reduction in the company's 2025 production forecast. However, the company's strong position in the nuclear sector and robust supply contracts have not deterred analysts from maintaining their positive outlook.

Both RBC and National Bank of Canada have kept their upbeat price targets, at $110 and $115 respectively, highlighting Cameco's long-term growth potential. National Bank's outlook also considers Cameco's entire portfolio, including its fuel services business and nearly half-ownership in Westinghouse, underscoring the company's diversified revenue streams.

The bigger picture is that uranium demand is outpacing supply as more nations turn to nuclear power to meet clean energy goals. Cameco's involvement in fuel services and nuclear technology via Westinghouse positions the company at the center of this global energy transition.

Cameco's strategy, which aligns marketing, operational, and financial decisions to capture full-cycle value, positions the company well to manage the expected production shortfall and meet its delivery commitments. With favorable market prices for uranium and a strong balance sheet, Cameco is well-equipped to navigate near-term challenges and capitalize on long-term opportunities.

References:
[1] https://finimize.com/content/cameco-keeps-analyst-support-despite-trimming-uranium-forecast
[2] https://www.marketscreener.com/news/cameco-maintained-at-outperform-by-rbc-capital-markets-national-bank-of-canada-ce7c50ddda8eff2d
[3] https://investingnews.com/cameco-provides-production-update-strategically-well-positioned-for-continued-long-term-value-creation/