Overview
- Cameco’s Q3 2025 earnings came in at $0.07 per share versus $0.23 expected, while revenue beat forecasts at $615 million against $568 million expected.
- The company reduced its 2025 production guidance due to delays at the McArthur River mine and Key Lake milling facility.
- Shares gained 11.42% from November 21 to November 28 after reports said Canada is nearing a 10-year, $2.8 billion uranium export deal with India, a development still not finalized.
- UBS initiated coverage on November 10 with a Neutral rating and a C$140 price target, citing expected profitability gains as supplies are recontracted and Westinghouse pursues new-build reactor work.
- Cameco traded ex-dividend on November 29, an event the coverage notes may have influenced short-term trading activity.