Stifel Canada on Friday maintained its buy rating on the shares of Cameco (CCO.TO, CCJ) and its C$115.00 price target following the company's second-quarter results.
"Cameco reported Q2/25 EPS of $0.71 vs. our $0.39 estimate (consensus $0.51) and adjusted EBITDA of $673Mln vs. our $650Mln (consensus $629Mln) on +7% higher uranium sales and strong Q2 Westinghouse contribution. Q2/25 realized uranium price was -9% QoQ to $81.03/lb compared to spot prices +10% QoQ and flat long-term prices. Q2/25 Fuel Services was in-line with adjusted EBITDA of $57Mln vs. our $55Mln, including higher sales volumes offset by lower realized prices. Management notes McArthur River (100%) production guidance of 18Mln lbs is subject to potential development delay risks associated with the expected timing of ground freezing and development schedules in new mining areas, access to adequate skilled labour, and the timing of commissioning for new equipment. The collective agreement with Local 8914 expires Dec-2025," analyst Ralph Profiti wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 101.33, Change: -2.70, Percent Change: -2.60
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