Revenue distribution by sector:

• Uranium production: approx. 85%
• Fuel services: approx. 15%

TOP 3 markets and their percentage shares:

• USA: approx. 40%
• Europe: approx. 30%
• Asia (especially China and India): approx. 20%

Cameco Corporation generates the majority of its revenue from uranium production, which is its core competency. Fuel services complement this business by offering services such as uranium enrichment and conversion.

The USA is the largest single market for Cameco, attributed to the high number of nuclear power plants and the demand for secure energy. Europe follows as the second largest market, as many countries there continue to rely on nuclear energy. In Asia, particularly in China and India, the market share is growing due to increasing energy needs and investments in nuclear energy.

Main production sites of Cameco Corporation:

1. McArthur River/Key Lake, Canada
2. Cigar Lake, Canada
3. Inkai, Kazakhstan

Cameco Corporation is one of the world's leading companies in uranium production. The main production sites are located in Canada, particularly in the provinces of Saskatchewan, where the McArthur River/Key Lake and Cigar Lake mines are situated. These sites are known for their high uranium deposits and significantly contribute to the company's production.

In addition, Cameco operates the Inkai mine in Kazakhstan in a joint venture. Kazakhstan is one of the largest uranium producers in the world, and the partnership enables Cameco to access significant uranium resources outside of Canada.

Revenue Growth: Estimated at 10-12% annually (2025) Market Share of Uranium Production: Approximately 18% worldwide (2024)

Cameco Corporation is pursuing a growth strategy that heavily relies on the increasing demand for clean energy and the role of nuclear energy in the global energy transition. The company plans to increase its production capacities to benefit from the growing demand for uranium, especially in Asia and Europe, where new nuclear power plants are being planned or constructed.

Another strategic focus is on optimizing existing mines and developing new projects to reduce costs and increase efficiency. Cameco is also investing in the development of new technologies and partnerships to strengthen its position as a leading uranium supplier.

Additionally, Cameco is committed to sustainable practices and environmental responsibility to meet the increasing demands of investors and regulatory authorities. This includes initiatives to reduce the CO2 footprint and enhance social responsibility in the communities where the company operates.

Main raw material: Uran

Countries of origin: Kazakhstan, Australia, Uzbekistan

Cameco Corporation is one of the world's largest companies in the field of uranium production. The main raw material imported by Cameco is uranium, which is used for the production of nuclear fuel. Cameco sources uranium from various international sources to complement its production capacities and meet the demand of its customers.

Kazakhstan is one of the largest uranium producers worldwide and a significant supplier to Cameco. Australia and Uzbekistan are also important countries of origin for uranium imports. These countries have large uranium deposits and well-developed mining infrastructures, allowing Cameco to diversify and secure its supply chain.

Market share in the uranium sector: Approx. 18% (2024, estimate)
Production capacity: 24 million pounds of uranium per year (2024, estimate)
Long-term supply contracts: Over 70% of production (2024, estimate)

Cameco Corporation is one of the world's leading providers of uranium and benefits from a significant competitive advantage due to its strong market position and extensive production capacities. The company secures a stable source of income through long-term supply contracts with major energy providers, further solidifying its position in the market.

Another advantage of Cameco is the geographic diversification of its mines, located in politically stable regions such as Canada and Kazakhstan. This reduces political risk and ensures a continuous supply. Furthermore, Cameco continuously invests in technological innovations to improve the efficiency and sustainability of its production processes.

Overall, the combination of market share, stable supply contracts, and geographic diversification enables Cameco to effectively compete against competitors and strengthen its market position.

Institutional investor share: approx. 60% (2025, estimated based on historical data)

Insider purchases/sales: No significant transactions in the last quarter (2025, estimated)

The institutional investor share in Cameco Corporation traditionally stands at around 60%, indicating the confidence of large investors in the company's long-term stability and growth potential. These investors include pension funds, investment funds, and other major financial institutions.

Regarding insider transactions, there were no significant purchases or sales in the last quarter, suggesting that the management and other insiders currently do not anticipate significant changes in the company's valuation. Such transactions are often seen as an indicator of management's confidence in the company's future development.

Market share of Cameco Corporation: approx. 17% (2025, estimated)

Top competitors and their market shares:

1. Kazatomprom: approx. 24%
2. Orano: approx. 15%
3. Uranium One: approx. 12%
4. NAC Kazatomprom: approx. 10%
5. BHP Billiton (Uranium Division): approx. 8%

Moat of Cameco Corporation:

Cameco Corporation has a significant moat, which is composed of several factors. Firstly, the company owns some of the largest and highest-quality uranium deposits in the world, especially in Canada. This resource base provides Cameco with a significant cost advantage over many competitors.

Secondly, Cameco has entered into long-term supply contracts with major energy providers, ensuring stable revenues and providing some price certainty. This is a crucial advantage in a volatile market environment.

Compared to competitors, especially Kazatomprom, which holds the largest market share, Cameco benefits from a stable political and legal environment in Canada. This can be considered an additional moat as it minimizes the risk of supply disruptions or regulatory challenges.

However, Kazatomprom also has a strong moat due to its low-cost production in Kazakhstan, based on low production costs and a strategic geographical location. This makes it a very strong competitor in the global uranium market.

Revenue Growth: 10% (2024)

Profit Growth: 8% (2024)

Uran Price Forecast: Increase by 5-7% annually (2025-2027)

Cameco Corporation is one of the world's leading providers of uranium fuel, and the company is benefiting from the growing demand for clean energy. In 2024, Cameco recorded a revenue growth of 10%, attributed to increased demand for uranium and strategic expansion into new markets. Profit growth was at 8%, driven by efficient operations and cost-cutting measures.

The forecasts for the uranium market are positive, with an expected price increase of 5-7% annually until 2027. This development could benefit Cameco, as higher uranium prices could improve margins and increase profitability.

Additionally, in recent years, Cameco has invested in modernizing its production facilities, which could further increase efficiency and reduce production costs. These strategic measures position the company well to benefit from long-term trends in the energy sector.

Overall, Cameco Corporation's stock could be a good investment, especially for investors who believe in the growth potential of the uranium market and the increasing importance of nuclear energy as a clean energy source.

Dividend yield: 2.1% (estimate 2025)
Dividend history: Regular payouts for several years

Cameco Corporation has paid a dividend in recent years and is expected to also pay a dividend in 2025. The dividend yield is estimated to be around 2.1%, based on current market developments and the company's historical payouts.

The reliability of Cameco's dividend payments is relatively high, as the company has a solid financial position and has regularly distributed dividends in the past. However, the stability of the payouts also depends on uranium prices and global demand for nuclear energy, as these factors can significantly impact Cameco's revenues.