Why Is CAMECO CORP (CCJ) Stock Down Today?

Cameco Corp (CCJ) shares fell 10.52% to $74.71, driven by a third-quarter earnings report that missed revenue expectations and a narrowed 2026 production guidance. The stock gapped down sharply at the open following the release of results that highlighted operational challenges, including a maintenance outage, despite the company reaffirming strong long-term nuclear demand.

What Happened

Cameco reported adjusted earnings per share of $0.00 and sales of $619.0 million, missing the consensus estimate of $767.666 million. The company narrowed its 2026 production guidance due to a maintenance outage but affirmed its full-year 2026 sales guidance of $2.398 billion to $2.580 billion, which is below the $2.440 billion estimate. The stock also declared an annual dividend of CAD 0.24. Truist Securities maintained a Buy rating on the stock but lowered its price target to $125. The company published a slide deck in conjunction with its 2026 Q3 earnings call, which took place on October 30, 2026.

What The Data Shows

The stock opened at $74.47, representing a 10.8% gap down from the prior close of $83.49. The session low was $73.22 at 7:00 AM ET, while the session high reached $76.80 at 8:25 AM ET. Volume stood at 2.2 million shares, which is 0.7 times the three-month daily average. Fundamentals show a market cap of $36.5 billion, a P/E ratio of 146.2, and a net margin of 10.2%. Revenue has declined 2.7% on a trailing twelve-month basis. The stock has a beta of 1.14 and a dividend yield of 0.20%. The 52-week range is $76.92 to $135.24, and the stock printed one fresh 52-week high and five fresh 52-week lows on October 30, 2026.

What To Watch

Investors will monitor the company's ability to execute its narrowed 2026 production guidance and manage operational challenges. The stock's valuation, with a P/E of 146.2, remains a key factor as the company navigates revenue pressure and maintenance-related disruptions.