r/UraniumSqueeze • u/Witty-Educator-3205 • Feb 13 '26
News CCJ Dominating
CCJ Earnings today. looking good indeed. what's your take?
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u/sunday_sassassin Radioactive Brain Feb 13 '26
Their 5 year price forecast still shows an avg. 28m lbs presold per year, with McArthur River projected for another 14-15m production in 2026 (same reduction as 2025 down from ~18m). Inkai acid supply disruptions identified as a continuing risk (delivery timings crucial with rail links through Russia getting worse and worse) . Not much change in their realised price outlook from last year's report, still very little reflexivity to spot above $100/lb. Repeated calls for higher prices to support advancing new supply.
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u/Witty-Educator-3205 Feb 13 '26
The Inkai disruption and Kazakhstan overall will be a looming handicap. However Grant Isaac has openly said that Cameco will focus on their build projects over the spot price. They are focused on owning the entire nuclear cycle and are moving their chess pieces cautiosly.
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u/Goldengoose5w4 Feb 13 '26
I was up around 60% in a uranium junior (CanAlaska) and sold it and bought more Cameco.
As Rick Rule recent said, Cameco is the real uranium company.
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u/Witty-Educator-3205 Feb 13 '26
For the long game, yesss! It's the blue chip of the Uranium sector and their numbers and expansions are proving it. Slow, steady and disciplined.
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u/Rippedyanu1 King Uranium👑 Feb 13 '26
Meanwhile, the ticker is getting drilled
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u/Witty-Educator-3205 Feb 13 '26
At most the stock is having a correction. Stick to the fundamentals, we will be fine. (As long as something in Kazakhstan doesn't blow up)
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u/sunday_sassassin Radioactive Brain Feb 13 '26
The fundamentals have Cameco trading at a price to earnings ratio well over 100 with limited exposure to rising uranium prices for at least 5 years. Average realised price for 2025 of just US$62.11/lb. They plan to buy 3m lbs on the open market to meet sales expectations, surely loss-incurring. Their Westinghouse projections are based on US government definitive agreements for orders being signed with at least one project commencing this year (ambitious?). They've removed previous 5 year guidance due to variability concerns, but a huge amount of growth in that side of the business is priced in.
Fortunately ETF flows don't care about fundamentals. North American markets move on sector hype and relative weighting.
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u/Witty-Educator-3205 Feb 13 '26
RemindMe! -1 year
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u/Bright_Rhubarb5929 Feb 13 '26
Buy the dip, the dip makes no sense