Cameco Corporation (NYSE: CCJ) shares are down nearly 6% today, and over 15% the last week. This is a sharp pull back from recent highs near $110.
Quick Read
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Cameco (CCJ) shares dropped nearly 6% today and over 15% in the past week after touching recent highs near $110.
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Cameco posted Q2 earnings up 821% year-over-year with revenue climbing 46.5%.
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Wall Street analysts maintain 17 buy ratings versus just 2 holds and zero sells on Cameco.
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But if look beneath the surface retail investors on Reddit, X, and other forums are keeping their bullish tone. At least as of today, they’re viewing the dip as a buying opportunity. While these groups can get a fever and momentum all their own the fundamental belief that nuclear energy is the comeback kid of 2025 and beyond seems valid.
Reddit Keeps Conviction, Despite the Drop
Across Reddit’s investment communities, sentiment around Cameco has held firm in the 62-81/100, even as shares fall today. A post in r/stocks titled “CCJ only nuclear stock you need in your portfolio” gained 82 upvotes and 55 comments, and engagement continues to climb.
CCJ only nuclear stock you need in your portfolio
byu/AloneStaff5051 instocks
One comment gaining traction highlighted a key point many retail investors are making: “CCJ owns 50 percent stake in Westinghouse who recently signed 80 billion worth of commitment with US government and they build nuclear powerplants.” This argument underscores how Cameco extends beyond uranium mining into the broader nuclear ecosystem, giving investors exposure to both fuel supply and infrastructure buildout.
The bullish thesis here rests on three concrete pillars:
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Q2 earnings jumped 821% year-over-year with revenue climbing 46.5%, Cameco is translating uranium demand into real profits
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Global nuclear capacity is expanding as countries prioritize energy security and decarbonization
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Cameco operates the world’s largest uranium mines
What’s notable is the absence of panic. Retail traders and investors are discussing the dip in terms of accumulation, not capitulation. So far, it’s still viewed as a core holding.
Analyst Support Remains Solid, Despite Valuation
The pullback her likely reflects profit-taking after Cameco rallied hard into early November. The stock recently touched $110.16, near its 52-week high, after climbing from $35 just months earlier. That’s a healthy reset, not a fracture in the thesis.
But it’s not ALL positive signals without risk. Cameco does trade at steep valuation that implies ongoing growth with near perfect execution. The P/E ratio is 109, and P/S sits at nearly 12. Those are premium, premium price. But we’ve seen this story before, particularly in the internet boom in the early 2000/s. High expectations mean when things go wrong shares retreat fast, but if the long term thesis remains in tact with nuclear, the company will recover and can still do spectacularly well.
That said, there are no current storm clouds on the horizon. Analyst consensus remains overwhelmingly bullish and execution has so far been consistent. Wall St analysts have 17 buy or strong buy ratings compared to just 2 holds, and zero sells. The consensus price target of $109.13 sits just slightly below recent highs.
Nuclear Demand Is THE Core Belief
Retail investors are taking the long view, based on a belief that nuclear demand will not just grow but multiply in the United States for decades. They’re not selling into weakness today, it’s most likely profit taking than a change in belief. The consensus from Reddit threads suggests traders view any pullback under $100 as a gift. Maybe you should, too.
Watch policy and announcements from Cameco an other nuclear companies like Oklo (Nasdaq: OKLO). Both Cameco and Oklo seem well positioned for the expected ‘supercycle’ of US domestic energy investment. Any chatter about increasing permits or decreasing reactor build times would be a positive as well.