Cameco Acquires 5% Stake from Tepco, Ownership Rises to 57.42%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 01 2026
0mins
Cameco and Orano Canada have reached agreement with Tepco Resources to acquire Tepcos 5% participating interest in the Cigar Lake Joint Venture. Upon closing, Cameco's ownership stake in the Cigar Lake uranium mine in northern Saskatchewan will increase by 2.871 percentage points to 57.418%, while Orano's share will rise by 2.129 percentage points to 42.582%. Cameco's purchase cost to acquire the respective share of Tepcos interest in Cigar Lake is approximately $115.75M, subject to customary closing adjustments. The acquisition is subject to certain regulatory approvals and other standard closing conditions. The transaction is expected to close in the third quarter of 2026.
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Analyst Views on CCJ
Wall Street analysts forecast CCJ stock price to rise
12 Analyst Rating
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 105.670
Low
71.80
Averages
105.67
High
118.78
Current: 105.670
Low
71.80
Averages
105.67
High
118.78
About CCJ
Cameco Corporation is a provider of uranium fuel to generate baseload electricity around the globe. Its segments include uranium, fuel services and Westinghouse. The uranium segment involves the exploration for, mining, milling, purchase and sale of uranium concentrate. The fuel services segment involves the refining, conversion and fabrication of uranium concentrate and the purchase and sale of conversion services. The Westinghouse segment reflects its earnings from this equity-accounted investment. Westinghouse is a nuclear reactor technology original equipment manufacturer and a global provider of products and services to commercial utilities and government agencies. It provides outage and maintenance services, engineering support, instrumentation and controls equipment, plant modification, and components and parts to nuclear reactors. It has two operating mines, Cigar Lake and McArthur River as well as a mill at Key Lake. It also has ownership interests in Global Laser Enrichment.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Historical Resource Context: The Agate project is situated in an area historically operated by major producers like Kerr McGee, highlighting the region's rich uranium resource potential, with mineralization occurring at shallow depths, making it amenable to in-situ recovery.
- Future Exploration Plans: The company plans to continue reviewing available lands for acquisition to support future uranium exploration and discovery, with Director John DeJoia emphasizing that the recent success in the Middle Sand could significantly enhance the strategic value of the company.
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