All research in Energy — 1 reports.
Cameco is the world's largest publicly listed uranium producer and a pillar of the Western nuclear fuel cycle, squarely exposed to the AI-driven nuclear revival. The business quality is high, but a PE of about 107x, EV/EBITDA of about 50-78x, and third-party fair-value estimates of $47-87 suggest the market has already priced in a great deal while uranium remains highly cyclical. Research rating Watch: wait for a stronger margin of safety, likely around $80.
