Cameco shares have climbed 136% over the past year and 15% year-to-date, outpacing the broader market as global uranium demand climbs. The sector rotation toward lower-volatility energy plays and supply constraints has bolstered investor interest in the world’s largest publicly traded uranium producer.

In the fourth quarter, Cameco posted EPS of $0.36 versus estimates of $0.29 and delivered $875 million in revenue, surpassing projections by over $90 million. This marked the company’s second earnings beat in three quarters, highlighting improved operational execution and pricing power.

By the end of 2025, Cameco secured approximately 230 million pounds of long-term uranium commitments, including 28 million pounds per year over the next five years. The company is preserving uncommitted supply to capture higher future prices and expects $370–$430 million in EBITDA from its Westinghouse collaboration in 2026.

Sixteen analysts assign a consensus Buy rating with a 12-month average price target implying over 16% upside. Institutional investors hold more than 70% of the float, while short interest has declined by 17%, reflecting growing confidence in Cameco’s growth trajectory.