Should You Buy Cameco Corp (CCJ) Today? Analysis, Price Targets, and 2026 Outlook.
Conclusion
Hold
Latest Price
134.090
1 Day change
6.45%
52 Week Range
134.130
Analysis Updated At
2026/01/28
CCJ is NOT a good buy right now for a beginner long-term investor who is unwilling to wait for a better entry. The long-term nuclear/uranium backdrop is strong, but the stock is technically overextended (RSI ~84) and trading near resistance after a sharp run, while options positioning is leaning defensive (more put volume than call volume). With earnings on 2026-02-11 as a near-term event risk and the current price already around/above several major Street targets, the risk/reward for an immediate lump-sum buy is unfavorable.
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Technical Analysis
Trend is bullish but stretched. Bullish moving-average stack (SMA_5 > SMA_20 > SMA_200) and a rising MACD histogram (1.404, expanding) confirm strong upside momentum. However, RSI_6 at 84.564 flags an overbought condition, which often precedes pullbacks or sideways consolidation. Price (130.15) is above R1 (127.741) and approaching R2 (133.177), suggesting limited near-term upside before resistance. Key levels: Support/pivot ~118.944 (more meaningful dip support), then ~110.147; resistance ~133.177.
Options Data
Neutral
Open Interest Put-Call Ratio
Bearish
Option Volume Put-Call Ratio
Options sentiment is cautious-to-bearish near-term: put open interest slightly exceeds calls (OI P/C 1.02) and put volume is notably higher than call volume (Volume P/C 1.27). Implied volatility is elevated (30D IV ~55.76; IV percentile 85.6), and today’s option volume is above normal (~126% of 30-day average), indicating active positioning/hedging. Net: traders appear more focused on protection than upside chasing at this level.
Technical Summary
Sell
4
Buy
10
Positive Catalysts
- Policy/news tailwinds: U.S. DOE program to strengthen the nuclear fuel supply chain and attract large private investment supports the uranium ecosystem.
- Structural demand narrative: news cites rising global nuclear demand into 2030 and potential supply squeeze.
- Strategic positioning: Cameco’s role as a major uranium supplier and leverage to Westinghouse are viewed positively in recent commentary.
- Upcoming earnings (2026-02-11 pre-market) could be a positive catalyst if results/contracting commentary beats expectations.
Neutral/Negative Catalysts
- Technical overbought/extended: RSI is extreme and price is near resistance (risk of near-term pullback).
- Options market is defensive: higher put volume than call volume suggests traders are hedging or leaning bearish short-term.
- Event risk: earnings on 2026-02-11 could trigger volatility if guidance/contract timing disappoints.
- Current price is around/above multiple Street targets, reducing “easy” upside.
Financial Performance
Latest quarter: 2025/Q3. Revenue fell to 614.6M (-14.72% YoY). Net income declined to approximately -0.141M (-101.90% YoY) and EPS was 0 (-100% YoY). The bright spot was profitability at the gross level: gross margin improved to 27.7% (+16.83% YoY), suggesting cost/price mix improvement even as reported revenue/earnings were pressured (consistent with commentary about timing).
Growth
Profitability
Efficiency
Analyst Ratings and Price Target Trends
Recent analyst trend is broadly positive (Buy/Outperform dominant) with multiple target raises tied to higher uranium price expectations and nuclear build momentum, but there are notable signs of valuation caution. Examples: Bernstein Outperform with a $101 target (below current price); GLJ Buy ~$99.74 (below current); UBS initiated Neutral with C$140 citing premium valuation after sharp gains; BofA reiterated Buy with targets around $115–$130 (near current). Wall Street pros: strong long-term uranium fundamentals, contracting tailwinds, and Westinghouse exposure. Cons: stock has already surged and now prices in a lot of good news, making near-term risk/reward less attractive at current levels.
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 71.8 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
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 71.8 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.
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 125.970
Low
71.8
Averages
105.67
High
118.78
Current: 125.970
Low
71.8
Averages
105.67
High
118.78
Bernstein
Outperform
maintain
$100 -> $101
AI Analysis
2026-01-07
Reason
Bernstein
Price Target
$100 -> $101
AI Analysis
2026-01-07
maintain
Outperform
Reason
Bernstein raised the firm's price target on Cameco to $101 from $100 and keeps an Outperform rating on the shares. The firm cites higher uranium price deck for the price target change.
GLJ Research
Buy
maintain
2025-12-03
Reason
GLJ Research
Price Target
2025-12-03
maintain
Buy
Reason
GLJ Research raised the firm's price target on Cameco to $99.74 from $80.70 and keeps a Buy rating on the shares. The company's Q3 report "disappointed" due to the timing of sales but the Q4 outlook is "strong," the analyst tells investors in a research note. The firm believes the weakness is more of a timing issue than a trend.
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