In a report released yesterday, Lawson Winder from Bank of America Securities maintained a Buy rating on Cameco (CCJ – Research Report), with a price target of C$86.00.
Lawson Winder has given his Buy rating due to a combination of factors including Cameco’s strong performance in the first quarter of 2025, where the company reported adjusted EBITDA that exceeded consensus estimates. This positive result was primarily driven by higher realized pricing in both the Uranium and Fuel Services segments. Despite some challenges, such as higher costs from third-party uranium purchases and royalties, Cameco maintained its full-year 2025 outlook, indicating confidence in its future performance.
Additionally, the long-term prospects for the uranium market appear favorable, with multiple tailwinds such as supply disruptions and reactor restarts. Cameco’s robust pipeline of contracts under discussion further supports this optimistic view. The company’s maintained guidance for 2025, alongside its strategic positioning in the growing nuclear energy sector, reinforces the Buy rating. Winder’s analysis suggests that these factors collectively position Cameco well for future growth, justifying the positive outlook.
Based on the recent corporate insider activity of 67 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.