# Cameco Stock Falls Despite Uranium Price High

> Cameco's stock drops as uranium hits 19-year high.
- Title: Cameco Stock Falls Despite Uranium Price High | Shortify
- Summary: Cameco's stock drops as uranium hits 19-year high. Cameco's stock fell to $85.18 on October 2 as uranium prices hit a 19-year high of $96.50 per pound, due…
- Keywords: cameco, uranium, stock, price, production, forecast, cigar lake, miller, orano, nuclear, startups, Falls
- Source: Startup Fortune — https://startupfortune.com/cameco-stock-falls-on-a-surprise-loss-even-as-uranium-hits-a-19-year-high
- Published: 2026-10-14T19:55:22+00:00
- Read time: 1 min
- Topics: cameco, uranium, stock, price, q3, production, forecast, cigar lake, miller, orano, nuclear, startups
## Cameco stock lags uranium rally
Cameco's stock has lagged uranium's record rally even as the metal hits a 19 year high.
## Earnings miss and production cut
Cameco posted earnings of 5 cents a share, missing analysts' 28 cents expectation, with revenue down 15% year-over-year.
## Production forecast lowered
Cameco cut its production forecast at McArthur River/Key Lake to 14-15 million pounds, down from 18 million pounds.
## Cigar Lake mine suspended
Cameco temporarily suspended its Cigar Lake mine in Saskatchewan over problems at Orano's McClean Lake mill.
## Uranium price hits 19-year high
Uranium prices hit a 19-year high of $96.50 per pound on October 2, with realized prices near $65 per pound.
## Long-term contracts drive prices
Cameco's business runs on long-term contracts priced well below current market rates, explaining the stock's decline despite rising uranium prices.
## Next earnings report
Cameco's next earnings report is scheduled for October 30 to determine if Cigar Lake production has resumed and guidance holds.
## Key takeaway

Cameco's stock fell to $85.18 on October 2 as uranium prices hit a 19-year high of $96.50 per pound, due to the company's missed earnings and production forecast cuts.