Cameco Corporation

NYSE:CCJ Stock Report

Market Cap: US$20.5b

Cameco Valuation

Is CCJ undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CCJ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
US$20.46
Fair Value
130.7% overvalued intrinsic discount
12
Number of Analysts

Below Fair Value: CCJ ($47.19) is trading above our estimate of fair value ($20.46)

Significantly Below Fair Value: CCJ is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CCJ?

Key metric: As CCJ is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for CCJ. This is calculated by dividing CCJ's market cap by their current revenue.
What is CCJ's PS Ratio?
PS Ratio10.4x
SalesCA$2.80b
Market CapCA$29.11b

Price to Sales Ratio vs Peers

How does CCJ's PS Ratio compare to its peers?

The above table shows the PS ratio for CCJ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2x
CNR Core Natural Resources
1.9x12.5%US$4.3b
ARLP Alliance Resource Partners
1.4x1.9%US$3.4b
LEU Centrus Energy
4.3x0.2%US$1.9b
BTU Peabody Energy
0.5x2.7%US$2.0b
CCJ Cameco
10.4x5.9%US$29.1b

Price-To-Sales vs Peers: CCJ is expensive based on its Price-To-Sales Ratio (10.4x) compared to the peer average (2x).

Price to Sales Ratio vs Industry

How does CCJ's PS Ratio compare vs other companies in the US Oil and Gas Industry?

42 CompaniesPrice / SalesEstimated GrowthMarket Cap
PSX Phillips 66
0.4x-4.5%US$52.88b
MPC Marathon Petroleum
0.4x-3.7%US$49.31b
VLO Valero Energy
0.3x-4.2%US$42.84b
PAA Plains All American Pipeline
0.3x3.7%US$13.93b
CCJ 10.4xIndustry Avg. 1.8xNo. of Companies42PS01.63.24.86.48+
42 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CCJ is expensive based on its Price-To-Sales Ratio (10.4x) compared to the US Oil and Gas industry average (1.8x).

Price to Sales Ratio vs Fair Ratio

What is CCJ's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CCJ PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio10.4x
Fair PS Ratio1.1x

Price-To-Sales vs Fair Ratio: CCJ is expensive based on its Price-To-Sales Ratio (10.4x) compared to the estimated Fair Price-To-Sales Ratio (1.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CCJ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$47.19
US$61.38
+30.1%
5.9%US$68.37US$54.27n/a12
Feb ’26US$49.44
US$60.25
+21.9%
6.2%US$67.37US$53.48n/a12
Jan ’26US$51.39
US$59.65
+16.1%
6.3%US$65.20US$52.72n/a14
Dec ’25US$59.45
US$61.10
+2.8%
6.1%US$67.23US$54.36n/a14
Nov ’25US$52.50
US$57.80
+10.1%
5.4%US$65.69US$54.14n/a14
Oct ’25US$48.64
US$57.15
+17.5%
5.0%US$62.86US$50.28n/a14
Sep ’25US$40.84
US$57.10
+39.8%
4.7%US$60.69US$50.33n/a13
Aug ’25US$41.02
US$56.00
+36.5%
5.2%US$60.55US$49.02n/a14
Jul ’25US$50.22
US$56.66
+12.8%
6.5%US$61.31US$46.71n/a14
Jun ’25US$55.51
US$55.69
+0.3%
6.0%US$60.66US$46.78n/a14
May ’25US$46.92
US$54.56
+16.3%
5.9%US$58.11US$46.49n/a14
Apr ’25US$46.75
US$54.16
+15.8%
4.9%US$58.93US$47.88n/a14
Mar ’25US$41.97
US$54.14
+29.0%
5.1%US$59.07US$47.99n/a13
Feb ’25US$50.56
US$53.09
+5.0%
5.6%US$59.28US$47.80US$49.4413
Jan ’25US$43.10
US$52.52
+21.9%
3.9%US$56.24US$48.37US$51.3912
Dec ’24US$45.40
US$50.60
+11.5%
3.7%US$55.17US$47.08US$59.4512
Nov ’24US$41.05
US$47.37
+15.4%
6.3%US$50.49US$41.12US$52.509
Oct ’24US$39.64
US$43.27
+9.2%
9.8%US$51.54US$38.28US$48.649
Sep ’24US$37.35
US$38.32
+2.6%
3.6%US$40.75US$36.30US$40.849
Aug ’24US$34.54
US$37.63
+8.9%
2.5%US$38.90US$36.61US$41.029
Jul ’24US$31.33
US$36.97
+18.0%
3.2%US$38.48US$34.71US$50.229
Jun ’24US$30.30
US$36.25
+19.6%
3.2%US$37.65US$33.96US$55.519
May ’24US$27.74
US$36.25
+30.7%
3.2%US$37.65US$33.96US$46.929
Apr ’24US$26.17
US$36.03
+37.7%
2.1%US$37.49US$34.49US$46.759
Mar ’24US$27.91
US$36.03
+29.1%
2.1%US$37.49US$34.49US$41.979
Feb ’24US$28.66
US$33.11
+15.5%
5.6%US$35.85US$30.62US$50.569
Analyst Price Target
Consensus Narrative from 12 Analysts
US$61.45
Fair Value
23.2% undervalued intrinsic discount
12
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/16 11:14
End of Day Share Price 2025/02/14 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Cameco Corporation is covered by 38 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Harriet LiAccountability Research Corporation
Andrey LobazovAton LLC
Alexander Robert PearceBMO Capital Markets Equity Research