Denison Mines Establishes Historic Uranium Development Agreement with Athabasca Communities
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 01 2025
0mins
Should l Buy CCJ?
Source: Benzinga
Regional Benefits Agreement: Denison Mines Corp. and the Ya’thi Néné Land and Resource Office have established a regional benefits agreement with several Athabasca Basin communities, facilitating the cooperative development of uranium projects in northern Saskatchewan.
Community Support and Oversight: The Nuhenéné Benefit Agreement confirms local support for projects like Wheeler River and includes commitments to wildlife and water monitoring, ensuring responsible development while enhancing local oversight.
Economic Opportunities: The agreement aims to create meaningful training, employment, and business pathways for local communities, emphasizing mutual respect and a transparent negotiation process.
Denison's Project Status: Denison Mines' Wheeler River is highlighted as the largest undeveloped uranium project in the eastern Athabasca Basin, with ongoing feasibility work and federal licensing hearings for its Phoenix and Gryphon deposits.
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Analyst Views on CCJ
Wall Street analysts forecast CCJ stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for CCJ is 105.67 USD with a low forecast of 71.80 USD and a high forecast of 118.78 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 119.180
Low
71.80
Averages
105.67
High
118.78
Current: 119.180
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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- Historical Performance: Over the past two years, Cameco has beaten EPS estimates 75% of the time and has exceeded revenue estimates 100% of the time, indicating a level of financial stability and reliability in its performance.
- Estimate Revision Trends: In the last three months, EPS estimates have seen six upward revisions and no downward adjustments, while revenue estimates have experienced three upward revisions and one downward, suggesting increased market confidence in Cameco's future performance.
- Market Analysis Perspective: Despite Cameco's stretched valuation, its high-quality business model continues to attract investor interest, with analysts recommending a shift from a “buy-and-hold” strategy to a “buy the dips and sell the rallies” approach.
See More
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- Surge in Nuclear Demand: President Trump has set an ambitious goal to quadruple the US nuclear energy capacity by 2050, which is expected to significantly boost nuclear energy demand, particularly as global clean energy needs rise, potentially creating substantial market opportunities for related companies.
- Cameco Stock Performance: Cameco's stock has surged 395% since the beginning of 2023, with its high-grade uranium mines, MacArthur River and Cigar Lake, accounting for a significant share of the world's high-quality uranium supply, positioning the company to benefit from rising nuclear energy demand, especially with the US government's commitment of $80 billion to build nuclear reactors.
- Centrus Energy Expansion Plans: Centrus Energy has been awarded a $900 million task order to expand its uranium enrichment capacity at its Piketon, Ohio plant, aiming to enrich uranium domestically to meet urgent needs for low-enriched uranium, particularly as restrictions on Russian uranium imports loom.
- Market Volatility Risks: Despite Cameco and Centrus Energy trading at high valuations of 74 times and 66 times their projected 2026 earnings respectively, indicating vulnerability to price swings, investors bullish on long-term nuclear energy development may find these stocks worth holding for significant returns over the next decade.
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- Growing Nuclear Demand: President Trump's ambitious goal to quadruple U.S. nuclear energy capacity by 2050 highlights strong global demand for nuclear power, particularly amid rising geopolitical risks, which could drive stock prices of related companies higher.
- Cameco Stock Performance: Cameco's stock has surged 395% since the beginning of 2023, with its high-grade uranium mines, MacArthur River and Cigar Lake, accounting for a significant share of the world's high-quality uranium supply, positioning the company to benefit from increasing nuclear energy demand, especially with the U.S. government's $80 billion commitment to building nuclear reactors.
- Centrus Energy Expansion Plans: Centrus Energy was awarded a $900 million task order to expand uranium enrichment capacity at its Piketon, Ohio plant, addressing urgent domestic needs for low-enriched uranium, particularly as restrictions on Russian uranium imports loom, potentially enhancing its market position.
- Market Valuation Risks: With Cameco and Centrus Energy trading at price-to-earnings ratios of 74 and 66, respectively, while reflecting optimistic market expectations for long-term nuclear development, their high valuations also expose them to significant risks during market volatility, necessitating cautious evaluation by investors.
See More
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- Significant Revenue Growth: Cameco's revenue doubled from $1.5 billion in 2021 to $3.1 billion in 2024, primarily due to the successful restart of its largest mines, indicating the company's pivotal role in the nuclear energy recovery.
- Uranium Price Recovery: The spot price of uranium rebounded from $18 per pound in 2016 to approximately $94 today, providing strong support for Cameco's profitability, which has seen consecutive profits from 2022 to 2024.
- Market Share Expansion: In 2024, Cameco mined about 17% of the world's uranium, making it the second-largest uranium miner after Kazakhstan's Kazatomprom, highlighting its significant position in the global uranium market.
- Strategic Acquisition Plans: By increasing its stake in Global Laser Enrichment and partnering with Brookfield Asset Management to acquire Westinghouse Electric, Cameco is transitioning towards a diversified nuclear energy company, with expectations of further acquisitions to accelerate this transformation.
See More
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- Structural Supply Shock: Kazakhstan has historically supplied about 40% of global uranium, but its major mines are nearing peak output, with production expected to decline sharply over the next two decades, leading to a structural supply shock that will impact global uranium prices.
- Rising Demand Context: As governments revive nuclear energy for energy security, grid stability, and carbon reduction, particularly to power AI data centers, the demand for uranium is quietly increasing, exacerbating the supply tightness in the market.
- Cameco's Scale Advantage: Cameco possesses significant scale and strength in the nuclear fuel cycle, with tier-one assets in Canada's Athabasca Basin and long-term contracts that provide a competitive edge in a rising-price environment, positioning it as a strategic fuel supplier.
- Energy Fuels' M&A Optionality: As the leading U.S. uranium producer, Energy Fuels is not only generating yellowcake but also expanding into critical minerals, with a proposed $299 million acquisition of Australian Strategic Materials aimed at strengthening its balance sheet and diversifying its operations, enhancing its market competitiveness.
See More
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- Monday.com and Pagaya Reports: On Monday, work management SaaS provider Monday.com and fintech company Pagaya released their earnings before the market opened, with expectations that their results will reflect broader industry trends.
- Coinbase Earnings Expectations: On Thursday, Coinbase is expected to report earnings of 68 cents per share and quarterly revenue of $1.86 billion, despite facing a projected 33% drop in transaction revenue, raising investor interest in its growing stablecoin and subscription services.
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