Cameco Shares Defy Earnings Miss as Uranium Play Gains Traction
Cameco (CCJ) shares climbed 1.6% to $123.86 Friday despite missing Q3 earnings estimates, with trading volume 24% below average. The uranium producer posted $0.05 EPS versus $0.22 expected, while revenue fell 14.7% year-over-year to $313.74 million.
Wall Street maintains bullish sentiment with 14 Buy ratings among 16 analysts. The company doubled its annual dividend to $0.24, now yielding 27% at current prices. This MOVE signals confidence in long-term uranium demand amid global energy transitions.
The stock currently trades above its $121.68 average price target, suggesting market Optimism outstrips analyst projections. Light volume during the rally indicates cautious participation rather than broad conviction.