Cameco Shares Soar 0.98% on Record Earnings as $240M Volume Ranks 430th in Market Activity

Cameco (CCJ) rose 0.98% on August 12, 2025, with a trading volume of $240 million, ranking 430th in market activity. The uranium producer reported second-quarter 2025 results exceeding expectations, with revenues rising 47% year-over-year to $634 million and adjusted earnings per share surging 410% to $0.51. Uranium sales volume climbed 40% to 8.7 million pounds, driven by fixed-price contracts offsetting a 17% decline in the U.S. dollar spot price. The company’s share of Westinghouse Electric Company’s earnings shifted from a $47 million loss in 2024 to a $126 million profit in 2025, attributed to its involvement in the Dukovany nuclear reactor project.

Cameco’s 2025 guidance includes uranium production of 31–34 million pounds and adjusted EBITDA from Westinghouse of $525–580 million. The company expects higher realized prices, averaging $87 per pound, and forecasts total revenues of $3.3–3.55 billion for the year. However, risks include delays in mining operations, labor availability, and equipment deployment. Uranium price volatility remains a concern, with futures trading at $71.50 per pound amid oversupply and uncertain demand.

Despite a strong balance sheet with $716 million in cash and a 13% debt-to-capital ratio, Cameco’s valuation appears stretched, trading at a forward price-to-sales ratio of 13.06—well above its five-year median of 6.63. The stock’s performance has outpaced the S&P 500 and the broader materials sector but lags peers like Energy Fuels. Analysts note mixed earnings revisions for 2025 and 2026, with consensus estimates projecting 149% growth for the current year and 28.5% for the next.

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