In a report released today, Gordon Johnson from GLJ Research maintained a Buy rating on Cameco, with a price target of $80.70.
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Gordon Johnson has given his Buy rating due to a combination of factors that highlight Cameco’s potential for growth despite recent market reactions. The company reported a significant earnings beat in the second quarter of 2025, surpassing both GLJ’s and Wall Street’s estimates, which indicates strong financial performance. However, the market reacted negatively due to a year-over-year decline in contracted volumes of uranium, which is a core market for Cameco.
Despite this, Johnson notes that the surge in gas turbine order books in the U.S. is positively influencing the entire power derivatives market, including nuclear stocks like Cameco. This correlation suggests that Cameco’s stock is benefiting from broader market trends. Additionally, Johnson has adjusted the year-end price target for Cameco to $80.70 per share, reflecting a positive outlook. He maintains a Buy rating while being cautious about the potential decoupling of Cameco’s stock performance from trends in the gas turbine market.
In another report released yesterday, BMO Capital also maintained a Buy rating on the stock with a C$110.00 price target.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CCJ in relation to earlier this year.