From Startup Fortune · · 1m 10s
Cameco Stock Hits 52-Week Low as Uranium Prices Rise
Cameco's stock drops to 52-week low while uranium prices near 19-year high.
In brief
Cameco's stock drops to 52-week low while uranium prices near 19-year high. Cameco's stock fell to a 52-week low despite uranium prices nearing a 19-year high due to long-term contracts with fixed pricing formulas. Originally reported by Startup Fortune.
Cameco stock drops
Cameco shares closed at $78.60 on October 23, 2026, down 42% from January 28's all-time high of $134.09.
Uranium prices rise
Uranium spot prices near $90 a pound in October, above 2007 peak of $95.
Contract pricing gap
Cameco's realized uranium price was $67.79 a pound, up 18% year over year but below spot prices.
Quarterly production
Cameco delivered 7.1 million pounds of uranium in Q3, expecting 29-32 million pounds full-year.
Valuation mismatch
Cameco trades at 40x next year's earnings, double the S&P 500's forward multiple.
AI demand surge
AI companies signed nuclear deals committing to 10 gigawatts of capacity by 2026.
Earnings report coming
Cameco reports Q3 results before market opens on October 30, with consensus earnings of $0.23 per share.
The bottom line
Cameco's stock fell to a 52-week low despite uranium prices nearing a 19-year high due to long-term contracts with fixed pricing formulas.
