Retirement Planning - The Retirement Forum offers actionable ideas, a high-yield safe retirement portfolio, and macroeconomic outlooks to help maximize capital and income [1] - The forum searches the entire market to help maximize returns [1] Cameco Corporation (CCJ) - Cameco Corporation is the largest publicly traded uranium company globally with a market cap exceeding $20 billion [2] - Nuclear power has substantial potential as reliable base load power [2] Investment Strategy - The Value Portfolio specializes in building retirement portfolios using a fact-based research strategy [2] - The strategy includes extensive readings of 10Ks, analyst commentary, market reports, and investor presentations [2] - The portfolio invests real money in the stocks it recommends [2]

Nuclear Energy Industry Overview - Nuclear energy is positioned as a key solution for a low-carbon, resilient energy future, driven by global energy demands and geopolitical tensions [3][4] - The industry includes companies involved in uranium mining, nuclear reactor construction, electricity generation, and related technologies and services [3] - The rise of artificial intelligence and data centers has significantly increased the demand for reliable, emissions-free energy, further boosting the nuclear energy sector [4] Cameco (CCJ) Analysis - Cameco is one of the world's largest uranium producers, with assets across three continents, positioning it to benefit from growing nuclear energy demand [5] - The CEO highlighted increasing government, industry, and public support for nuclear energy, with utilities and industrial users extending financial backing for clean, reliable nuclear power [6] - Despite positive long-term trends, the near-term EPS outlook for Cameco remains unfavorable, with analysts cutting expectations across the board [6] - The stock currently holds a Zacks Rank 3 (Hold) [6] Constellation Energy (CEG) Analysis - Constellation Energy is the largest producer of clean, emissions-free energy in the US and a leading supplier of energy products and services [8] - The company has partnered with Microsoft in a 20-year agreement to restart the Crane Clean Energy Center, emphasizing the importance of AI and data economy to national security and economic competitiveness [9] - The near-term outlook for CEG has improved, with the stock maintaining a favorable Zacks Rank 2 (Buy) [10] - Consensus estimates for CEG have shown upward revisions, with Q1 estimates increasing by 9.46% and full-year estimates rising by 1.96% to 2.12% over the past 60 days [11] Thematic Investing Insights - Thematic investing allows investors to align portfolios with emerging trends, combining long-term and short-term themes to identify leading companies in shifting markets [12] - Stocks within thematic screens serve as a starting point for analysis, with tools like the Zacks Rank and detailed reports aiding in performance and potential evaluation [13]

Stock Performance - Cameco (CCJ) closed at $51 38, down 0 39% from the previous session [1] - The stock underperformed the S&P 500 (up 0 16%), Dow (up 0 25%), and Nasdaq (down 0 06%) [1] - Over the last month, Cameco shares decreased by 8 58%, outperforming the Basic Materials sector (down 10 34%) but underperforming the S&P 500 (down 2 8%) [1] Earnings Expectations - Cameco is expected to report EPS of $0 17, up 13 33% year-over-year [2] - Revenue is projected at $735 56 million, an 18 64% increase compared to the same quarter last year [2] Analyst Estimates and Revisions - Positive revisions to analyst estimates indicate optimism about the company's business outlook [3] - Empirical research shows a direct correlation between estimate revisions and stock price performance [4] - The Zacks Consensus EPS estimate for Cameco has decreased by 3 75% in the past month [5] Valuation and Industry Ranking - Cameco is trading at a Forward P/E ratio of 40 23, a premium compared to the industry average of 12 51 [6] - The Mining - Miscellaneous industry has a Zacks Industry Rank of 145, placing it in the bottom 43% of all industries [6] - The Zacks Industry Rank measures the strength of industry groups based on the average Zacks Rank of individual stocks [7]

Nuclear Energy Momentum - Nuclear energy is gaining momentum as a solution for rising energy demand and reducing carbon footprint [1] - AI's electricity consumption could increase from 8 terawatt-hours in 2024 to 652 terawatt-hours by 2030, creating a need for nuclear power [2] - 63 nuclear reactors are currently under construction, and demand for nuclear could grow by 2.5 times its current capacity by 2050 [5] Cameco (CCJ) - Cameco is a leading uranium producer, accounting for approximately 18% of global uranium supply [4] - The company has controlling interests in uranium mines in Canada, the United States, and Kazakhstan [4] - Analysts estimate Cameco's revenue will hit $2.3 billion in 2025, with potential for long-term growth [6][7] Southern Company (SO) - Southern Company is one of the largest energy companies in the United States, serving over 9 million customers [8] - The company operates eight nuclear power units across three plants, with recent investments in new nuclear construction [9] - Southern Company offers a 3.5% dividend yield and is positioned to benefit from AI-driven energy demand [10] GE Vernova (GEV) - GE Vernova is a diversified clean energy technology company, focusing on nuclear, wind, and gas turbines [11] - The company anticipates high single-digit revenue growth through 2028 and is investing $5 billion in R&D by 2028 [12][13] - Analysts estimate GE Vernova will grow earnings by an average of 46% annually over the next couple of years [14]

Inkai JV Suspension and Impact - Cameco's partner Kazatomprom suspended production at the Inkai JV in Kazakhstan due to delayed submission of required documents, causing significant concerns for Cameco [1][2] - Cameco holds a 40% stake in the Inkai JV and is assessing the impact on its 2025 and 2026 production and financial performance [2] - The suspension led to a 2% increase in uranium prices and gains in uranium stocks, with Uranium Energy Corp, Energy Fuels, and NexGen Energy seeing increases of 13.9%, 10.7%, and 10.45% respectively [3] - Production at Inkai was 5.5 million pounds for the first nine months of 2024, down from 6.3 million pounds in the prior-year period [6] - Cameco lowered the 2024 uranium production outlook for Inkai by 0.6 million to 7.7 million pounds due to supply-chain issues [7] Financial and Operational Challenges - Cameco expects higher average unit production costs at McArthur River/Key Lake in 2024 compared to the average unit life of mine operating costs [10] - The average unit cost of sales in the fuel services segment is expected to increase to $25.50-$26.50 per kgU due to lower production expectations for UF6 at the Port Hope conversion facility [10] - Westinghouse is expected to generate a net loss of $170-$230 million in 2024 due to purchase accounting impacts and non-operating acquisition-related transition costs [11] - Cameco will incur care and maintenance costs of $50-$60 million for the ongoing curtailment of its tier-two assets [11] Industry and Market Trends - Kazakhstan increased the Mineral Extraction Tax (MET) for uranium from 6% to 9% in 2025, with rates based on production and spot prices from 2026 onward [9] - Global focus on nuclear energy is increasing due to population growth, electrification, decarbonization, and energy security concerns, with a push to triple nuclear power capacity by 2050 [16] - Cameco is the second-largest uranium producer, accounting for 16% of 2023 global production, with contracts for average annual deliveries of 29 million pounds of uranium through 2024-2028 [17] Strategic Initiatives and Valuation - Cameco plans to double its dividend payout by 2026, with a 33% increase to 16 cents per share for 2024 and a target of 24 cents per share by 2026 [15] - The company is investing to extend the mine life at Cigar Lake to 2036 and increasing production at McArthur River and Key Lake to 25 million pounds annually [17] - Cameco's stock is trading at a forward price-to-sales ratio of 10.42, above the industry's 1.32 and its three-year median of 6.90, indicating a stretched valuation [18] - The company's return on equity is 3.33%, higher than the industry's 1.66% [14]

Stock Performance - Shares of the uranium producer lost 8 98% in the past month while the Basic Materials sector lost 8 95% and the S&P 500 gained 1 05% [1] - In the latest trading session Cameco closed at $52 56 marking a -0 11% move from the previous day underperforming the S&P 500's daily loss of 0 04% [6] Earnings and Revenue Projections - Full-year earnings are expected at $0 51 per share a -10 53% change from last year while revenue is projected at $2 17 billion a +13 36% increase [2] - The upcoming earnings release projects earnings of $0 18 per share representing year-over-year growth of 20% and revenue of $735 56 million reflecting an 18 64% rise from the same quarter last year [7] Valuation Metrics - Cameco is currently trading at a Forward P/E ratio of 103 18 significantly higher than its industry's Forward P/E of 16 5 [4] Industry and Sector Analysis - The Mining - Miscellaneous industry part of the Basic Materials sector has a Zacks Industry Rank of 151 placing it in the bottom 40% of all 250+ industries [10] - The top 50% rated industries outperform the bottom half by a factor of 2 to 1 based on the Zacks Industry Rank [5] Analyst Revisions and Zacks Rank - Recent revisions to analyst forecasts can reflect near-term business trends with positive revisions indicating a favorable business outlook [8] - Cameco holds a Zacks Rank of 3 (Hold) with the consensus EPS projection remaining stagnant over the past 30 days [9]

Stock Performance - Cameco's stock closed at $52.44, with a -0.89% daily movement, underperforming the S&P 500's 1.09% gain, the Dow's 1.18% rise, and the Nasdaq's 1.03% increase [1] - Over the past month, Cameco's shares declined by 13.16%, underperforming the Basic Materials sector's 8.81% loss and the S&P 500's 0.71% loss [1] Earnings and Revenue Forecast - The company is expected to report an EPS of $0.18 in its upcoming earnings report, representing a 20% increase from the same quarter last year [2] - Revenue is forecasted at $735.56 million, up 18.64% from the prior-year quarter [2] - For the full year, Zacks Consensus Estimates project earnings of $0.51 per share and revenue of $2.17 billion, reflecting changes of -10.53% and +13.36%, respectively, from the previous year [4] Analyst Estimates and Revisions - The Zacks Consensus EPS estimate has decreased by 26.93% over the past month [3] - Positive estimate revisions indicate analyst optimism about the company's business and profitability [4] - Estimate revisions are directly correlated with near-term share price momentum [5] Valuation and Industry Ranking - Cameco is trading at a Forward P/E ratio of 103.75, significantly higher than the industry average of 16.09 [7] - The Mining - Miscellaneous industry, part of the Basic Materials sector, has a Zacks Industry Rank of 153, placing it in the bottom 40% of over 250 industries [7] Zacks Rank and Industry Performance - Cameco currently holds a Zacks Rank of 3 (Hold) [3] - The Zacks Rank system has a history of outperformance, with 1 stocks averaging an annual gain of +25% since 1988 [3] - The top 50% of industries ranked by Zacks outperform the bottom half by a factor of 2 to 1 [6]

Earnings Estimates - Cameco is expected to post earnings of $0 18 per share for the current quarter, representing a year-over-year change of +20% [4] - The Zacks Consensus Estimate for the current quarter has changed +26 4% over the last 30 days [4] - For the next fiscal year, the consensus earnings estimate of $1 33 indicates a change of +161 2% from the previous year [5] - The consensus earnings estimate for the next fiscal year has changed -17 5% over the past month [5] - For the current fiscal year, the consensus earnings estimate of $0 51 points to a change of -10 5% from the prior year [13] - The current fiscal year earnings estimate has changed -26 9% over the last 30 days [13] Revenue Estimates - The consensus sales estimate for the current quarter is $735 56 million, indicating a year-over-year change of +18 6% [6] - For the current fiscal year, the revenue estimate is $2 17 billion, representing a +13 4% change [6] - For the next fiscal year, the revenue estimate is $2 49 billion, indicating a +14 9% change [6] - Cameco reported revenues of $528 24 million in the last reported quarter, representing a year-over-year change of +23 2% [16] Valuation - Cameco is graded F on valuation, indicating it is trading at a premium to its peers [10] - The company's valuation multiples, such as P/E, P/S, and P/CF, are compared to historical values and peers to determine if the stock is fairly valued, overvalued, or undervalued [9] Stock Performance - Shares of Cameco have returned -13 2% over the past month, compared to the Zacks S&P 500 composite's -0 7% change [12] - The Zacks Mining - Miscellaneous industry, to which Cameco belongs, has lost 8 6% over the same period [12] Earnings and Revenue Surprises - Cameco reported revenues of $528 24 million in the last quarter, representing a -4 16% surprise compared to the Zacks Consensus Estimate of $551 15 million [8] - The EPS surprise was -103 85% [8] - The company could not beat consensus EPS or revenue estimates in any of the last four quarters [17] Zacks Rank - Cameco is rated Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [11][14]

Industry Overview - The AI boom continues to drive rapid energy consumption, keeping nuclear stocks relevant as we approach 2025 [1] Company Analysis: Oklo Inc (NYSE:OKLO) - Shares of Oklo Inc are up 2 9% at $19 66, after reaching a high of $22 94 earlier in the day [2] - The company announced a strategic partnership with data center operator Switch, backed by Sam Altman-Reid [2] - The stock has been volatile since its Oct 30 record high of $28 11, but the $18 level has contained pullbacks [2] - Year-to-date, the equity is up 84 8% [2] Company Analysis: Cameco Corp (NYSE:CCJ) - Cameco Corp is one of the world's largest uranium producers, a key fuel for nuclear reactors [3] - The stock has been slipping since its Dec 6 record high of $62 55, closing lower in seven of the last eight sessions [3] - Today, the stock is up 1 5% at $54 19, bouncing off the $54 level which acted as resistance in June and July [3] - Year-to-date, the equity is up 25 7% [3] Company Analysis: NuScale Power Corp (NYSE:SMR) - NuScale Power Corp stock is down 5% at $20 62, extending a steady downturn after its Nov 29 record high of $32 30 [4] - The $20 level, previously a pressure point, could now act as support, with the 60-day moving average capturing today's pullback [4] - Since the start of the year, SMR is up 520% [4]

Cameco (CCJ) is trading at a forward price-to-sales ratio of 9.91, significantly higher than the industry’s 1.33. It is also above its three-year median of 6.77. CCJ’s Value Score of F suggests that the stock is not so cheap and indicates a stretched valuation at this moment. Image Source: Zacks Investment ResearchYear to date, Cameco shares have gained 30.9% against the industry’s 13.2% decline. Meanwhile, the broader Zacks Basic Materials sector has declined 3.3%, while the S&P 500 has climbed 27.4%.CCJ S ...