Weekly Recap | Cameco +3.38%, most brokers rate it buy

The Week

Cameco (CCJ) gained 3.38% this week to close at $88.06, about 2.23 percentage points ahead of the S&P 500. The stock opened lower on Monday, rallied hard on Tuesday to touch $94.57, then gave back most of those gains. Friday’s close at $88.06 left the stock below its 20-day moving average of $89.54, with the prior high of $111.54 still some 21% away. Turnover on the rally day was heavy as well, with more than 6m shares changing hands.\n\n## Key Events\n\nNuclear and uranium themes moved to the foreground. On Tuesday, National Bank Financial analysts set a C$185.00 price target on the company’s Toronto-listed shares. The same day, several pieces grouped Cameco among Canadian nuclear growth names, with uranium and lithium moves reshaping energy giants’ growth trajectories. By Wednesday, reports noted the stock had surged 7.95% on Oct 6, with some call options up 1550%. Not everything pointed up, though: one piece said billions were going into nuclear, but related stocks were still falling, highlighting the gap between policy optimism and equity performance.\n\n## Analyst Ratings\n\nAcross 21 firms covering the stock, 11 rate it buy, 8 rate it overweight, and 2 rate it hold; none rate it underweight or sell. The consensus recommendation is buy, with a consensus target of $126.96, roughly 44.17% above spot. Target prices range from $83.07 to $169.00, so dispersion is wide. The stock ranks first in its industry group of coal and consumable fuels, across 15 covered companies.\n\n## The Week Ahead\n\nNext week brings a dense macro calendar. Tuesday offers the US NFIB small business optimism index and existing home sales; Wednesday brings US CPI and core CPI, the central focus. For Cameco itself, the next key date is Oct 30, when it reports fiscal Q3 2026 results. The market is looking for EPS of $0.2121 and revenue of $518m.\n\n## In Short\n\nBroker views remain clearly constructive, with a consensus target more than 44% above the current price, though the wide range signals real disagreement about uranium prices and earnings timing. The stock is not cheap at roughly 150x earnings and 7.6x book. Large-lot money turned net seller on the latest trading day. The next stretch hinges on how CPI readings shift risk appetite, and whether the late-October report delivers guidance that matches the high consensus target.\n\nThis article is generated by LongbridgeAI from market data, for information only and not investment advice.