Stifel Canada on Tuesday reiterated its buy rating on the shares of Cameco (CCO.TO, CCJ) and its C$165.00 price target following the uranium producer's third-quarter results.

"Cameco reported Q3/25 adjusted EPS of $0.07 vs. our $0.24 (consensus $0.28) and adjusted EBITDA of $310Mln vs. our $448Mln (consensus $407Mln) on uranium sales of 6.1Mln lbs vs. implied guidance of 8.5-9.4Mln lbs (-21% vs. consensus 7.7Mln lbs) and attributable Westinghouse EBITDA of $124Mln (-9% vs. our $136Mln and -11% vs. consensus $140Mln). FY25 uranium sales guidance was narrowed to 32-34Mln lbs (from 31-34Mln lbs) with lower market purchases of 1.0Mln lbs expected with the utilization of product loan facilities. As a reminder, the collective bargaining agreement (CBA) with Local 8914 at McArthur River 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)

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