Cameco’s latest quarterly earnings fell well short of estimates, extending a run of mixed results. Investors are still watching the company’s longer-term role in the nuclear fuel market.
Cameco Corp (TSX: CCO) reported calendar EPS of C$0.0981 for the quarter ended September 30, 2026, compared with an estimate of C$0.27. That’s a 63.7% miss. The company also missed estimates by 52.6% in the June quarter, after beating them in the two quarters before that. The supplied data doesn’t include quarterly revenue or margins, so EPS is the clearest measure available for this report.
Recent earnings trend
Cameco Corp
CCO.TO
CCO.TO
Cameco Corp
WealthAwesomeMarket cap
$46.31B
P/E
123.6x
Div. yield
0.24%
Div. / share
$0.24
52W high
$182.72
52W low
$92.52
1W change
+3.74%
Beta
1.13
Analyst Price Targets
Based on analyst covering CCO · as of Nov 10, 2026
Wall Street analysts forecast CCO stock price to rise 57.2% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$167.20
+57.2% Upside
Previously C$169.86 on Nov 9, 2026
Current Price
C$106.33
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on CCO's historical volatility
30-Day Vol
52.2%
Annualized
90-Day Vol
46.2%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$88.94
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$100.19 | C$83.68 – C$119.95 |
| 60 trading days | C$94.40 | C$73.18 – C$121.77 |
| 90 trading days | C$88.94 | C$65.12 – C$121.48 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 9 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 2 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-02-12 | — | 0.3800 | — |
| 2026-09-30 | 2026-10-30 | 0.0981 | 0.2700 | -63.7% |
| 2026-06-30 | 2026-07-31 | 0.1800 | 0.3800 | -52.6% |
| 2026-03-31 | 2026-05-05 | 0.4700 | 0.3400 | +38.2% |
| 2025-12-31 | 2026-02-13 | 0.5000 | 0.4400 | +13.6% |
| 2025-09-30 | 2025-11-05 | 0.0700 | 0.2700 | -74.1% |
For Canadian investors, the results come as Cameco has renewed its at-the-market (ATM) equity program, which allows it to issue up to US$1 billion in shares. The stock is also trading below its 50-day and 200-day moving averages.
Investor takeaway: Two consecutive earnings misses raise questions about near-term performance. But the available data doesn’t explain the latest shortfall or show what’s happening with revenue and margins. Cameco’s uranium, fuel services and Westinghouse businesses offer exposure to nuclear fuel supply and services. Investors should weigh that longer-term opportunity against earnings volatility and possible dilution if the company issues shares through its ATM program. See the Cameco stock page for more company data.
C$0.0981 EPS versus C$0.27 estimated
Cameco’s EPS was 63.7% below the estimate. It beat estimates in two of its last four comparable quarters, so the latest result adds to a mixed record rather than showing a clear pattern.
Bull case
Cameco operates in uranium, fuel services and nuclear technology through Westinghouse, giving it several connections to the nuclear power supply chain. Recent company coverage points to government-backed nuclear expansion as a possible source of long-term fuel demand. Analyst price targets in the supplied data are also well above the last close, though targets are estimates, not guarantees.
Bear case
Cameco missed the EPS estimate by 63.7%, following another miss in the previous quarter. The supplied results don’t include revenue or margins, so they don’t show whether the shortfall came from operating performance or other factors. The company has also renewed an ATM program that could issue up to US$1 billion in shares, which could dilute existing shareholders if used. The last close of C$106.33 was below both the 50-day and 200-day moving averages.
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