CCJ stock is the NYSE ticker for Cameco, a uranium producer that also trades on the Toronto Stock Exchange as CCO. It earns money three ways: mining uranium, converting it into reactor fuel material, and holding a 49% stake in Westinghouse.
This page covers the durable parts of the business: the mines, the contract book, the Westinghouse stake and the risks. It does not cover price, and nothing here is a recommendation to buy or sell.
Where Cameco’s uranium comes from
According to Cameco’s 2025 annual report page, the company produced 21.0 million pounds of uranium (its share) in 2025, above its revised guidance of up to 20 million pounds. Cigar Lake produced 19.1 million pounds and McArthur River/Key Lake produced 15.1 million pounds, both on a 100% basis.
A third source is JV Inkai in Kazakhstan, which produced 8.4 million pounds in 2025, with 3.7 million pounds Cameco’s share. The company also bought 9.6 million pounds, including Inkai purchases, so deliveries are not limited to what it mines.
Video: CamecoCorporation (company-produced)
The contract book: what Cameco has already sold
After meeting its 2025 delivery commitments, Cameco reported long-term commitments to deliver about 230 million pounds of uranium. That includes an average of about 28 million pounds a year over the next five years.
The company says the contracts keep exposure to improving prices through base-escalated and market-related pricing. The pages I opened report aggregate volumes only and do not name individual utility customers, so any list of named buyers would be a guess.
For a sector-wide view of the producers, see our page on uranium stocks.
Cameco versus Kazatomprom on the basics
Kazatomprom is a useful peer to compare against because it also reports quarterly production. The two report on different bases, so the table shows both the 100% and the attributable figure where each company publishes them.
| Item | Cameco | Kazatomprom |
|---|---|---|
| 2025 production, attributable | 21.0 million lb (Cameco share) | 35.15 million lb (13,519 tU) |
| 2025 production, 100% basis | Cigar Lake 19.1; McArthur River/Key Lake 15.1 million lb | 67.18 million lb (25,839 tU) |
| Exchange listing | TSX: CCO; NYSE: CCJ | London Stock Exchange and Astana International Exchange |
| Fiscal year end | 31 December | 31 December |
Sources: Cameco 2025 annual report page and Q2 2026 results release; Kazatomprom 4Q25 Operations and Trading Update.
Westinghouse and the nuclear power link
Cameco owns 49% of Westinghouse and Brookfield owns 51%, following the acquisition that closed on November 7, 2023. Cameco says Westinghouse technology is used in 57% of the global operating fleet of 417 reactors.
The stake adds cash and volatility. Cameco received US$49 million from Westinghouse in February 2025 and US$171.5 million in October 2025, then reported a Westinghouse net loss of $10 million (its share) for the second quarter of 2026, against earnings of $126 million a year earlier.
That swing came from the Dukovany reactor project boosting the 2025 quarter, a reminder that equity earnings can be lumpy. For how the wider reactor theme is covered, see nuclear energy stocks and nuclear fusion stocks.
The risks that come with the model
Remote mining carries operating risk. In its Q2 2026 release Cameco described spring flooding that disrupted its northern Saskatchewan supply routes, plus temporary unplanned disruptions at Key Lake and McArthur River, and later at Cigar Lake. It kept 2026 guidance at 19.5 to 21.5 million pounds.
Contracting is a trade-off too. Cameco says its lower planned 2026 deliveries reflect contracting discipline, which can mean smaller sales volumes in a rising market. Check the company’s filings for current figures before drawing conclusions.
Frequently asked questions
What does CCJ stock represent?
CCJ is Cameco’s NYSE ticker; the Toronto Stock Exchange ticker is CCO. Cameco reports uranium, fuel services and a 49% Westinghouse interest.
Does Cameco name its utility customers?
Not in the annual report page or Q2 2026 release I opened. They give aggregate contracted volumes, such as about 230 million pounds of long-term commitments.
Is this a buy or sell call on CCJ?
No. This is general information about the business drawn from company and peer filings, not investment advice.
Andie is an IT lover and in his free time he likes to make tutorials dedicated to those interested in Android programming. Continually seeking for challenges he likes to test his skills and knowledge. Is thrilled to be part of the S4Tips team and hopes that together we can contribute to community development.