Cameco is a Canadian uranium producer and nuclear fuel supplier whose head office is at 2121 11th Street West in Saskatoon, Saskatchewan. Its shares trade on the Toronto and New York stock exchanges under the symbols CCO and CCJ, and it reports under International Financial Reporting Standards. The business combines uranium mining and milling in northern Saskatchewan with fuel services such as refining, conversion and fabrication, plus investments elsewhere in the nuclear fuel cycle, most importantly a joint-venture ownership of Westinghouse Electric Company alongside Brookfield Renewable Partners. Tim Gitzel is chief executive officer.
Second-quarter and first-half 2026 results
Cameco published second-quarter 2026 results on 31 July 2026. Net earnings for the quarter were CAD 25 million with adjusted net earnings of CAD 77 million and adjusted EBITDA of CAD 391 million. For the six months to 30 June 2026 net earnings reached CAD 156 million, adjusted net earnings CAD 281 million and adjusted EBITDA CAD 899 million. Both periods came in below the previous year, largely because of lower equity earnings from Westinghouse: the 2025 second quarter had included about USD 170 million relating to Westinghouse's participation in the construction of two reactors at the Dukovany plant in the Czech Republic. Sales volumes were also lower than in 2025, which the company attributes to normal quarterly variation in deliveries and to a planned reduction in 2026 deliveries under its contracting discipline. Realised prices improved in both the uranium and fuel services segments as market-related contracts reset higher.
Balance sheet and production outlook
At 30 June 2026 Cameco held CAD 1.1 billion in cash and cash equivalents, CAD 1.0 billion of total debt and an undrawn CAD 1.0 billion revolving credit facility, which the company highlights as evidence of risk-managed financial discipline. Uranium production in the quarter was affected by difficult spring road conditions on the supply routes serving its northern Saskatchewan operations, and further operational challenges arose after the quarter end, but the annual production outlook was left unchanged. During the period Cameco closed an agreement to increase its ownership interest in the Cigar Lake mine, a step it describes as reinforcing its strategy of owning and operating scarce tier-one assets. The company's competitive position rests on what it calls controlling ownership of the world's largest high-grade uranium reserves and low-cost operations.
Westinghouse and the wider fuel cycle
Westinghouse is owned jointly by Cameco and Brookfield Renewable Partners, and its engineering and reactor business gives Cameco exposure to demand for new nuclear capacity rather than only to fuel supply. Cameco also holds an interest in Global Laser Enrichment, extending its position into enrichment technology. Together with its mining, milling and fuel services assets, these holdings place the company across several stages of the nuclear fuel cycle.
Market conditions and policy support
In its half-year commentary Cameco reported that the long-term uranium price strengthened further during the first half of 2026, supported by on-market and off-market contracting as utilities prioritised security of supply. The company points to government measures as a demand driver, citing a conditional commitment by the US Department of Energy to support deployment of AP1000 reactors and Canada's nuclear energy strategy released in June 2026. Cameco describes its contracting approach as patient and selective, aimed at preserving exposure to improving prices while maintaining a flexible supply strategy, and states that its contract portfolio and balance sheet let it capture opportunities as the market develops.
Contact
Cameco's contact page lists its Saskatoon head office at 2121 11th Street West, telephone 306 956 6200 and fax 306 956 6201, with a web form for general, investor and website enquiries. Accounts payable uses [email protected] for invoice submissions, and media enquiries are directed to named communications staff at [email protected] and [email protected]. No general enquiries mailbox is published. The company maintains news and media sections covering its quarterly releases, along with mailing list registration and social channels, and its website carries a 2026 copyright notice.