MoneyMind Finance - Uranium Stock Watch Score
"Scores are MoneyMind Finance's own judgement. 1 = weak, 5 = strong. Change any score and the totals update."
Educational only. Not investment advice. Source data is listed further down this sheet.

Criterion,Cameco (CCJ),Kazatomprom (KAP),NexGen (NXE),Uranium Energy (UEC)
Revenue momentum,3,3,1,3
Profit quality,3,3,1,2
Balance sheet,5,3,4,3
Customer concentration,4,3,3,3
Valuation vs growth,2,4,2,2
Catalyst clarity,4,3,5,4
TOTAL out of 30,=SUM(B6:B11),=SUM(C6:C11),=SUM(D6:D11),=SUM(E6:E11)
Share of maximum,=B12/30,=C12/30,=D12/30,=E12/30

"Why each score, in one line"
Cameco,"Strongest balance sheet of the four. Q2 earnings fell mainly on lower Westinghouse contribution and deliberately lower planned deliveries, not lost demand."
Kazatomprom,"World's largest producer and cutting nominal output, which supports prices for everyone. Cheaper than Western peers, but jurisdiction and sulphuric acid supply are real constraints."
NexGen,No revenue and none expected for years. Scores on catalyst clarity: licensed construction began 8 June 2026 against a CAD 2.2bn estimate.
Uranium Energy,"Just started producing at Burke Hollow. Cost per pound sits well below spot, but volumes are tiny, so the ramp is the whole story."

COST VERSUS SPOT CALCULATOR
Change the spot price in cell B22 and the margins recalculate.
Uranium spot price (USD per lb),86.48
Company,Cost basis,Cost per lb (USD),Margin per lb,Margin %
Uranium Energy,"Total cost, Q3 FY2026",54.61,=$B$22-C24,=($B$22-C24)/$B$22
Uranium Energy,"Cash cost, Q3 FY2026",46.69,=$B$22-C25,=($B$22-C25)/$B$22
"Illustrative only. Ignores contracts, royalties, tax and overheads."

SOURCE DATA - every figure with its origin
Company,Figure,Value,As at,Source
Market,Uranium spot price,USD 86.48 per lb,8 Aug 2026,CarbonCredits.com uranium price tracker
Cameco,Q2 net earnings,CAD 25 million,Q2 to 30 Jun 2026,"Cameco Q2 2026 results, 31 Jul 2026"
Cameco,Q2 adjusted net earnings,CAD 77 million,Q2 to 30 Jun 2026,Cameco Q2 2026 results
Cameco,Q2 adjusted EBITDA,CAD 391 million,Q2 to 30 Jun 2026,Cameco Q2 2026 results
Cameco,Cash and equivalents,CAD 1.1 billion,30 Jun 2026,Cameco Q2 2026 results
Cameco,Total debt,CAD 1.0 billion,30 Jun 2026,Cameco Q2 2026 results
Cameco,"2026 production guidance, its share",19.5 to 21.5 Mlb U3O8,FY2026,Cameco Q2 2026 results
Cameco,"Contracted deliveries, next five years",over 28 Mlb per year,2026 to 2030,Cameco Q2 2026 results
Cameco,Uranium inventory,8.7 Mlb at CAD 58.05 per lb average cost,30 Jun 2026,Cameco Q2 2026 results
Kazatomprom,"2026 production, 100% basis",27500 to 29000 tU,FY2026,Kazatomprom 2026 guidance
Kazatomprom,"2026 production, attributable",37.70 to 40.30 Mlb U3O8,FY2026,Kazatomprom 2026 guidance
Kazatomprom,Nominal production reduction,32777 tU down to 29697 tU,FY2026,Kazatomprom 2026 guidance
NexGen,Licensed construction start,8 June 2026,2026,NexGen Rook I project updates
NexGen,Capital estimate,CAD 2.2 billion,2026,NexGen Rook I project updates
NexGen,Cash,USD 756.2 million,30 Jun 2026,NexGen Q2 2026 disclosure
NexGen,Short-term investments,USD 214.1 million,30 Jun 2026,NexGen Q2 2026 disclosure
NexGen,Strategic U3O8 inventory,2.7 Mlb,30 Jun 2026,NexGen Q2 2026 disclosure
UEC,Quarterly production,32195 lb U3O8,Q3 FY2026,Uranium Energy Corp Q3 FY2026 results
UEC,Total cost per pound,USD 54.61,Q3 FY2026,Uranium Energy Corp Q3 FY2026 results
UEC,Cash cost per pound,USD 46.69,Q3 FY2026,Uranium Energy Corp Q3 FY2026 results